83# Forex Profit Monster Forex System

Submit by Janus Trader  2024 This is the new version.

The Forex Profit Monster system is built using a combination of technical indicators that aim to identify high-probability entry points for trades, using both trend and momentum-based indicators. Below is a step-by-step guide to using this system.

Chart Setup

1. Main Chart Indicators:

   • Heikin Ashi Smoothed (1,6): This indicator smooths price data to make trends clearer. It helps reduce noise and provides a cleaner signal for trend direction.

   • Holy Grail 1.7 (Main Period 10, ADX Period 7): This indicator draws Buy and Sell arrows based on trend strength and direction. The ADX (Average Directional Index) helps confirm the strength of a trend.

   • Pivot Points Levels: These levels act as support and resistance zones, giving potential price targets or reversal points.

   • Red Mac 2.56 (100-period Simple Moving Average, draws envelopes): This indicator draws envelopes around the price, providing dynamic support and resistance bands. These can help determine potential breakout and retracement levels.

2. Indicators in the Sub-window (below the main chart):

   • PBF Squeeze:

     • Draws a histogram with green, red, and brown bars.

     • Green Bars: Indicate bullish momentum.

     • Red Bars: Indicate bearish momentum.

     • Brown Bars: Indicate the trend is weakening or stalling.

   • Red Wave Oscillator:

     • Draws a histogram with red, blue, and dark gray bars.

     • Blue Bars: Indicate a bullish wave (uptrend).

     • Red Bars: Indicate a bearish wave (downtrend).

     • Dark Gray Bars: Indicate indecision or low momentum.

3.  Time frame H1, H4, daily. Currency pairs: any.

Trading Rules

Buy Entry

1. Trend Confirmation:

   • Heikin Ashi Smoothed candles should be bullish (green), indicating an uptrend.

   • A Buy Arrow should be drawn by the Holy Grail indicator, confirming a bullish signal with an ADX value showing a strong trend.

2. Momentum Confirmation:

   • The PBF Squeeze should show green bars, confirming bullish momentum.

   • The Red Wave Oscillator should show blue bars, confirming a bullish wave (optional).

3. Entry Point:

   • Enter a Buy position once the above conditions are met. For additional confirmation, wait for price action close to the lower envelope, or middle (support) of the Red Mac envelopes, suggesting a low-risk entry point.

4. Stop Loss:

   • Place a stop loss below the nearest Pivot Support Level or the lower Red Mac Envelope line.

5. Take Profit:

   • Consider taking profit at the next Pivot Resistance Level or when the PBF Squeeze histogram turns brown, indicating momentum is weakening.

Sell Entry

1. Trend Confirmation:

   • Heikin Ashi Smoothed candles should be bearish (red), indicating a downtrend.

   • A Sell Arrow should be drawn by the Holy Grail indicator, confirming a bearish signal with a strong ADX trend.

2. Momentum Confirmation:

   • The PBF Squeeze should show red bars, confirming bearish momentum.

   • The Red Wave Oscillator should show red bars, confirming a bearish wave (optional).

3. Entry Point:

   • Enter a Sell position once the above conditions are met. For additional confirmation, wait for price action near the upper or middle Red Mac Envelope (resistance), indicating a potential retracement.

4. Stop Loss:

   • Place a stop loss above the nearest Pivot Resistance Level or the upper Red Mac Envelope line.

5. Take Profit:

   • Consider taking profit at the next Pivot Support Level or when the PBF Squeeze histogram turns brown, signaling the momentum is weakening.

Additional Notes

• Timing the Entry: Use the PBF Squeeze and Red Wave Oscillator as filters for timing your entry. Only enter trades when both indicators align with the overall trend indicated by the Heikin Ashi candles and Holy Grail arrows.

• Avoid Choppy Markets: If the PBF Squeeze or Red Wave Oscillator show dark gray bars, it indicates indecision or low momentum. It's best to avoid taking trades during these periods.

• Use Multiple Timeframes: Consider checking higher timeframes to confirm the broader trend direction and ensure alignment with the signal on the current chart.

This strategy provides a balance of trend-following and momentum-based signals to identify potentially profitable trades while managing risk effectively.

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