18# Black Diamond Forex

FXSniper LSMA

Submit by Joy22

 

Metatrader Indicators used:

MPi-HB

Pivot Points on MultitimeFrame

MadroGoldenFilter

Status Monitor V1.2

FXSniper LSMA

PriceChannelStop v1

SignalBars_v6

Clock_v1.2

 

Rules:

This method is efficient and fits my style of operating in the timeframe of 30 minutes.

However, you can use this method in any timeframe. Remember to follow all the rules,

for example, if you're operating in the timeframe of 30 minutes, you should always check the charts of 1H and for 4H identify the trend. Do not operate signals from the chart, 30 minutes timeframes in the case of 1H and 4H are with signs opposite to minimize the risk of false signals.

 

Orders to buy (buy/long):

1). Blue arrow in the indicator Madrid Golden Filter (it will appear only after closing

the candle)


2). At least 3 of the indicators in Madrod Golden Filter must be blue (better if the 4 to

confirm their entry). If any of these 4 (arrow, with x small square, small square, and "x"

small) is reddo not open your order.

3). The current candle should be GREEN

4). FXSniper LSMA should be GREEN.

5). PriceChannelStop v1 GREEN and must be below the candle.

6). Use Fibonacci retracement and pivot for better accuracy.

Orders for sale (sell / short):

1). Red arrow indicator in Madrid Golden Filter (it will appear only after closing the

candle).

2). At least 3 of the indicators in Madrid Golden Filter should be red (if the 4 best to

confirm their entry). If any of these 4 (arrow, with x small square, small square, and "x"

small) is blue, do not open your order.

3). The current candle should be RED

4). FXSniper LSMA must be RED.

5). PriceChannelStop v1 must be RED and above the candle.

6). Use Fibonacci retracement and pivot for better accuracy.

Trading System
BlackDiamondForex.rar
compressed file archive 434.9 KB

Stop Loss:

There are various ways of how you can use for your stop loss depends on your own way to negotiate and risks in which you want to have. There are no fixed rules on this system.

A method for use of stop loss is to check the high / low the last 3 or 4 candles, but no more than 25-30 pips (depending on the timeframe) for pairs as EU/ USD 35-40 pips

for pairs and more volatile as GPB/USD,EUR/JPY, etc...

Target Profit & Exits:

The safest calculation for the target profit is the next line of the indicator Pivot Point

Multiframes less spread (eg between with a purchase order in line with target R1 - spread).

Or close their order when any of the indicators show signs reverse. You can also move

your stop loss to the point of entry or with a few pips of profit and wait for the reverse signal so no risk of loss.

I particularly open two operations to each signal, with a target on the first line of pivotal and other leave until a reverse signal appears, moving my stop loss to safe levels.

The Target profit can be adapted to your personal style of operating!

Share your opinion, can help everyone to understand the forex strategy.

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