How To Trade (Part 6)
“How To Trade (Part 6)” is the sixth strategy series on how traders can trade Forex or Volatility Index on the mobile Meta Trader app.
However, the sixth series on how to trade Forex or Volatility Index is indicator based.
Traders can load the settings on the Personal Computer as well as on the mobile device.
This strategy works on all time frames.
You can use this strategy to trade VIX assets, Forex currency pairs, XAUUSD, NASDAQ 100, Step Index, Boom and Crash index.
The strategy is good for scalping profits on smaller time frames (1 minute to 1 hour time frames).
It is also good for trend following on higher time frames especially the time frames that are higher than 1hr TF.
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Megaphone Price-Swing Strategy
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Indicators:
Main Chart:
Load the following indicators on the main chart:
- Fractals
- 50 moving average, Linear Weight, colour is Grey
- 21 Exponential Moving Average (Red color) and
- 45 Simple Moving Average (Orange color)
How It Works:
Basically, if price cross down and close below all three moving averages, then you have Sell signal.
On the other hand, if price cross up and close below above all three moving averages, then you have Buy signal.
Indicator Window 1:
Load the following indicators on Indicator window 1:
- Relative Strength Index, (RSI) period is 6.
- 3 Simple moving average, apply to Previous Indicator’s data, colour is Green
- 4 Simple moving average, apply to Previous Indicator’s data, colour is Black
- Bollinger Bands, period is 34, deviation is 1.619, apply to First Indicator’s data, colour is Orange
- 33 Simple moving average, apply to First Indicator’s data, colour is Brown
- 5 Simple moving average, apply to First Indicator’s data, colour is Red
How It Works:
On Indicator window 1, when the Red, Brown and Black moving average lines cross above the Mid Bollinger Band, we have a Buy signal.
On the other hand, when the Red, Brown and Black moving average lines cross below the Mid Bollinger Band, we have a Sell signal.
Indicator Window 2:
Load the following indicators on Indicator window 1:
- MACD, 12, 29, and 9.
- 1 period moving average, Linear Weight, apply to First Indicator’s data, colour is Red
- Relative Strength Index, (RSI) period is 14, apply to Previous Indicator’s data, no colour
- Bollinger Bands, period is 34, deviation is 1.619, apply to First Indicator’s data, colour is Orange
- 3 period moving average, Linear Weight, apply to First Indicator’s data, colour is Brown
- Envelopes, 14 period, deviation is 0.100, method is Simple, apply to Previous Indicator’s data, colour is Blue
How It Works:
Basically, when the Red and Brown lines cross down on the Blue line we have a Sell signal.
On the contrary, when the Red and Brown lines cross above on the Blue line we have Buy signal.
Allow the alignment of all signals on all time frames before tasking trades.
(Try this on a demo account first!)
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