Friday, September 16, 2022
Trade Set Up
Indicators
We are using common Fx inducators found on meta trader platform both MT4 and MT5 and other trading platforms.
1. Moving Averages
- Moving Average:
Type: Exponential
Period: 5
Applied to: High
Color: Blue
diagram of 5 EMA high
- Moving Average:
Type: Exponential
Period: 5
Applied to: Low
Color: Red
Diagram of 5 EMA low
2. Relative Vigor Index:
Period: 6
Diagram of Relative Vigor Index
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The Exponetial Moving Average is for getting trend direction while the Relative Vigor Index is for gauging the trend strength and also an additional filter to enable us enter the market without stress and fear of early retracement.
Tradable Instruments:
All Currency pairs, All Commodities, Stocks and Crypto pairs
Time Frame:
All time frames as you like (I prefer using the 1H for a day trading opportunity and also 1M - 15M for scalping the market)
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Trading Types:
- Aggressive traders:
Trading aggressively the system entails not using the RVI to enter the market but just taking trading decision based on the EMA signal. The good thing is that you will enter the market earlier but the disadvantage is that you will secure many loosing trades but more high pips compared to the conservative traders.
- Conservative traders:
this trader takes trading decision based on the signal confirmation by the RVI such trader only enter trades based on the fact that the RVI agrees with the EMA signal. The advantage is that you have more sure winning trades but less numbers of trades. The type of trading depends on your risk choice but i advice take the conservative route.
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Download
Download the template for this system below:
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Always place a stop loss on your trade because you can’t tell what war may happen in the market that may want to take all your funds. There ...
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