188 Megatrend Trading System
Submit by Joy22
Time:Frame:15min, H1, 4H.
Currency Pairs: all.
1 – Price Above RED moving average indicator ( Megatrend )
2 – JRSX Indicator showing RED line at or above 70
1 - Price Below Green moving average indicator ( Megatrend )
2 – JRSX Indicator showing GREEN line at or below 30
In the pictures Megatrend forex system in action.
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
Red line = Buy trades target
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.
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.
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