Forex Rainbow Averages Trading Strategy
Forex Rainbow Averages Trading Strategy;
Rainbow Averages Strategy is a pure trend following strategy for trading based on rainbow averages indicator that is a system of filter in trend. In this case the averages rainbow indicator is green for uptrend and pink for down trend. Other indicators for this strategy are buzzer and step ma arrow.
Find the pairs in trend. In side markets there may be false signals.
Time frame 30 min or higher.
Currency pairs: majors and minors.
Metatrader 4 indicators
Averages rainbow (26, 2, 10, 9).
Step one (25, 2.5, 0.5, 50).
Buzzer (period 20).
Trading rules Rainbow Averages Strategy
Buy
Price above the rainbow.
Step one buy arrow.
Averages rainbow green color
Buzzer blue line (optional).
Place initial stop loss on the previous swing low.
Exit at the opposite arrow or with predetermined profit target tha depends by currency pairs and time frame.
Sell
Price below the rainbow.
Step one sell arrow.
Averages rainbow pink color
Buzzer red line (optional).
Place initial stop loss on the previous swing high.
Exit at the opposite arrow or with predetermined profit target tha depends by currency pairs and time frame.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Rainbow Averages Trading Strategy?
- Download Forex Rainbow Averages Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Rainbow Averages Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
