Forex Megatrend Range Trading System
Forex Megatrend Range Trading System;
Time:Frame:15min, H1, 4H.
Currency Pairs: all.
Indicators:
Megatrend,
JRSX
FPL SR
Trading Rules
Long Entry
1 – Price Above RED moving average indicator ( Megatrend )
2 – JRSX Indicator showing RED line at or above 70
Short Entry
1 – Price Below Green moving average indicator ( Megatrend )
2 – JRSX Indicator showing GREEN line at or below 30
TARGETS and STOPLOSS
For Targets we are going to use support and resistance indicator. This indicator shows the major support and resistance over a specific period of time. For example: 7 days.
You can change the period used by the indicator from the settings window, if you like.
Green line = Sell trades target
STOPLOSS
The recommended stop loss is the last support and resistance level. but if you don’t know how to trade with support and resistance, you can also use fixed number of pips for each trade.
Example:
For 15M and 30M time frames – 50 Pips
For 1H time frame – 75 Pips
For 4H time frame – 100 pips
While the system can be used with all time frames, The above are the recommended time frames.
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 Megatrend Range Trading System?
- Download Forex Megatrend Range Trading System.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 Megatrend Range Trading System?
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”.
