How To Trade (Part 4)
“How To Trade (Part 4)” is another strategy that is simple and can assist many traders on how to trade Forex or Volatility Index on the mobile Meta Trader app.
However, this very strategy is indicator based and traders can set it up on the Personal Computer as well as on the mobile device.
Basically, this strategy works on all time frames (especially from 1 minute to 4 hour time frame). You can use this strategy to trade XAUUSD, NASDAQ 100, Step Index, Boom and Crash index.
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The indicators on the main chart are: Fractals (to identify price rejection area), and moving averages (21 EMA, Red line and 50 EMA Black line)
You will have a Buy signal when the Red cross above the Black line.
On the other hand, you will have a Sell signal when the Red line cross below the Black line.
Indicator Window 1:
Relative Strength Index and Ichimoku Kinko Hyo are the indicators on Indicator Window 1.
Relative Strength Index setting is:
Ichimoku setting for Indicator Window 1 is as follows;
Uptrend starts when the Ichimoku cloud changes from Red to Green colour.
On the other hand, Downtrend occurs when the Ichimoku cloud changes from Green to Red colour.
Indicator Window 2:
MACD and Moving Averages are the indicators available on Indicator Window 2.
MACD setting is:
Moving Average settings on Indicator Window 2 are:
When the Red line (1 LWMA) cross above the Orange and Blue lines (20, 25 and 30 LWMAs) , you have a Buy trigger.
However, when the Red line cross below the Orange and Blue lines, you have a Sell trigger.
(Try this on a demo account first!)
- Firstly, allow the Ichimoku cloud to form and indicate the current trend,
- Allow the Red line to cross the Black line on the Main Chart, and lastly
- Ensure you have Buy or Sell trigger on Indicator Window 2 when the Red line cross the Orange and Blue lines.
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(Broker: Alpari … https://alpari.com/en/?partner_id=1244646)
(Broker: Exness … https://www.exness.com/a/t0q1u0q1)
(Broker: FXTM… http://forextime.com/?partner_id=4806145)