How To Trade (Part 9)
“How To Trade (Part 9)” is the ninth strategy publication series on how traders can trade Forex or Volatility Index on the mobile Meta Trader application.
However, this ninth series on how to trade Forex or Volatility Index is also indicator based just like the previous publications.
Traders can as well load the settings on the Personal Computer as well as on the mobile device.
This strategy works great on all Meta Trader time frames.
Moreover, you can apply this strategy to trade VIX assets, Forex, Gold, NAS 100, Step Index, Boom and Crash index.
The strategy is good for scalping profits on smaller time frames (1 minute to 1 hour time frames).
It is very good as a scalping strategy that you can use for trend following on higher time frames especially the time frames that are higher than 1hr TF.
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The image below shows the list of indicators that you can install for this strategy setup;
The image below shows the list of indicators that you can install for the main trading chart and Indicator Window 1;
Technically, for the Main chart, we have Fractals, 200 Simple Moving Average.
We also have 30 Linear Weighted Moving Average.
You may install the following indicators on the main chart:
- 200 moving average, Simple Moving Average, color is Blue
- 30 Linear Weighted Moving Average (Red color)
How It Works On The Main Chart:
Basically, you simply place a Sell trade on the main chart if both price and the Red line cross down and close below Blue moving average.
On the other hand, if price cross up and close above all three moving averages, then you have Buy signal.
Indicator Window 1:
Indicators on Indicator window 1 are listed in the image below;
Install the following indicators on your Indicator window 1 chart:
- MACD, Fast EMA is 12, Slow EMA is 26, and MACD SMA is 9.
- Bollinger bands period is 50. Deviation is 2.0.
- 200 period exponential moving average, apply to Close, First Indicators data, color is Blue.
- 1 period Exponential moving average, apply to Close, Previous Indicators data, color is Green.
- 50 period Simple moving average, apply to Close, color is Red.
How It Works:
On Indicator window 1, when the Green moving average lines cross above the Red and Blue lines, we have a Buy signal.
For a Bullish scenario, the Green moving average lines cross down the Red and Blue lines, we have a Sell signal.
Allow the alignment of all signals on both the main and Indicator window 1 charts before placing your trade(s) in the direction of signal.
(Try this on a demo account first!)
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