Weekly / Daily Trend Method
Forex Strategy Weekly / Daily Trend Method
Forex Strategy Weekly / Daily Trend Method is very well suited for those Forex traders who can not posveschat trading day since his employment, you only need once a day check your computer for trading signals
currency pair can be any
time interval (recommended): Weekly (W1) or Day (D1).
for trading on the forex strategy, we need the following tools and forex indicators:
1. indicator RSI (8) with a level of 50 - the main indicator
2. Indicator MACD (12,26,9) with a level of 0 (zero line) - the main indicator
3. Two indicators Slope Direction Line (15,3,0) and Slope Direction Line (30,3,0) - key indicators
4. LED ATM_Pure_MAColor (50) - you need to determine the direction of the main trend
5. Monthly Pivot - P-Monthly.ex4 - helps to define important levels to calculate the take-profit and stop-loss
6. Trend lines - to help determine the levels of stop-loss
7. LED 2MA crossover: 5 EMA close and 8 EMA open - an additional signal (arrows)
8. Fractals indicator (fractals Bill Williams) - additional forex indicator, to determine local minima and maxima (for issuing the stop-loss).
After the appropriate indicators to chart forex MT4 our weekly or daily schedule around should look like this (for a larger image, click on it - will open in new window):
The strategy Forex Weekly / Daily Trend Method is 2 types of signals: the conservative and aggressive.
consider conservative signal:
1) Line LED 2MA crossed on a weekly or daily charts, both averages must be the same color.
2) Indicator RSI is above or below its level 50.
3) Indicator MACD: The signal bar is located above the signal line (for sale), lower - for sale.
4) All these conditions must be met at the close of weekly or daily candles.
See the example at the bargain purchase (the red horizontal line):
1) Line LED 2MA crossed on a daily or weekly chart, the color and direction of the slope are the same (15 and 30)
2) the RSI is above (to buy) or below (for sale) of its level 50.
3) MACD: the signal is above the bar (to buy) or below (for sale) of its signal line. Or prikosaetsya bar with the signal line.
4) All these conditions must be satisfied at the closing daily or weekly candles.
See an example of aggressive deals (red horizontal line):
To find the signal for transactions, you must first analyze the weekly chart of the chosen currency pair, if there is no signal on the interval W1, go to the interval D1. If the signal for this pair is not found - must be analyzed in the same way another currency pair.
Several options Stop-Loss -a (choose one option that best suits you or is more suitable for a single transaction):
1) Last nearest fractal - the lowest (for sale) or highest (for sale)
2) Previous weekly or daily candle
3) above / below the nearest support or resistance level
4) below the trend line (rising) to purchase or above (downward) for sale
See several options for installing the stop-loss on one chart:
Candles marked with a red line signals at the entrance to the market. Red arrows - set options for Stop Loss.
take profit set to critical levels (including levels Monthly Pivot), or close a deal with the appearance of the feedback signal.