Action Trade Forex Indicator
Manual Forex Trading System - Action Trade
Bear in mind that this forex trading system uses more than 4 indicators but these three indicators are the major one. If these four indicators are used properly they are enough to generate consistent results.
When you use this forex trading system in your trading platform, your chart should look like this:
JE-Bar Trend
JE-Bar Trend is a Heiken ashi like bars that you see on the main chart. They are basically averaged bars which filter the noise of the market and gives output of a very clean and smoothed chart. Using these types of chart helps you to stay in the direction of the trend as small counter trend moves are ignored by this indicator. The white bars indicate bullish market conditions while the red bars indicate bearish market conditions.
Arrows
You can see blue and black arrows on the main chart. Blue arrows indicate buying and black arrows indicate selling.
Fx Prime Indicator
Fx prime indicator forms green and red bars. The red bars indicate bearish market conditions while the green bars indicate bullish market conditions.
Double CCI with SMA
Double CCI with SMA comprises of green and orange histograms which is also backed by an oscillator. Rather than focusing on oscillator you can focus only on histogram. When the histogram is positive, you can think to go long and the negative histogram warns you to go short.
- The currency pair should be up trending.
- Currency pair should be bouncing from the recent support level.
- A blue arrow should appear below the market.
- The FX prime indicator should be green.
- Double CCI with SMA histogram should be positive.
- Place a buy order when all of the above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when a black arrow appears above the market.
- The currency pair should be down trending.
- Currency pair should be falling from the recent resistance level.
- A black arrow should appear above the market.
- The FX prime indicator should be red.
- Double CCI with SMA histogram should be negative.
- Place a sell order when all of the above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when a blue arrow appears below the market.
