FOREX domestic Bar
Forex Strategy domestic Bar
Forex strategy is based on the inner bar allows you to be ready to move in any direction in the market.
I can say that with this technique trade, you are absolutely will not need to worry about which direction to move the market price , which will enable you to confidently and calmly to trade on this technique.
you need the following forex indicators:
1. SHI - this indicator forex helps you find the trend in the market . With this indicator, you can open Forex trades only in the direction of the trend. Once the point closes above the bar, we will only enter into transactions for sale , and if the contrary - that the purchase of . I recommend leaving the default display setting, you should not change anything, only - you can change the color. Sometimes, this indicator trading signals forex trading may not be true and just to repeat, so to confirm the data signals must use the following forex indicator.
2. AO - Awesome Oscillator indicator forex (Bill Williams), which is present in any terminal MT4 by default - you need to use this indicator to confirm the forex trend. Before you open deal to sell - make sure that the indicator forex SHI confirms this bargain, and closed joint-stock company indicator red bar . To make a deal to buy - AO indicator should close in green . While the deal is concluded - an indicator of SA has a tendency to change color, but it's not terrible but the time until the first indicator forex SHI shows us the proper direction of the transaction.
If you received confirmation from these two indicators, forex, we can safely open the bargain in the direction of the current trend .
Trade is conducted on day interval (D1).
take profit in the forex strategy is not put - you have to stay in the transaction up to that time, until the feedback signal . feedback signal is the inverse point indicator SHI , which appears when you close the bar, pointing to a possible reversal in the market. Based on this - to close the bargain on the upper or lower boundary of the bar, depending on the direction of the current trend.
So I recommend to use the standard trailing stop at a distance of 35-50 points . (You may also use the same and more about trailing stop-loss of 1 point , which will help set pending orders and accompany them).
must also remember that you should not just open a bargain in the opposite direction immediately after the close of the current. You must wait until such time as the two forex indicator will not indicate the entrance to the market. Even after you've closed the deal, you need to wait for the trading signals only in the direction of the trend.
And so what is the "inner bar"?
Internal bar - a candle , in which the highest and lowest points are located within the previous candle and do not act beyond its borders. The main idea is that once the market has been formed inside a bar (the range of consolidation), it will sooner or later above or below this candle. Our task to try to catch the trend with minimum risk.
This forex strategy works with any currency pair , but remember that it is much more volatile pairs need to trade more stop-loss.
Entering the market of forex strategy based on domestic bar:
Wait for the moment, until fully formed inner bar and vystavte pending orders to buy or to sell (all depends on the direction of the trend, which we define the indicator SHI) at 1 point + value spread.
If the chart has formed another inside a bar after the last, then you need to change the pending orders for the new internal boundaries of the bar, or set the two pending orders, on the border of the preceding and the new inner bar. If the trend in the market has changed and pending orders did not work, it should be removed them.
There are several options for installing a safety fixed stop-loss :
1. 100 pips from entry into the market
2. Set stop-loss on the opposite side of the inner bar (that the variants would be more correct)
If the deal was losing money, then look no miss you much later inside a bar, and if you missed - check warrants for his boundary. Also, it should always be ready to turn in the market and after the confirmation of this fact of forex indicators, open trade in the opposite direction.
download forex indicator SHI_SilverTrendSig.mq4