The Best Trading System has been named in such a way because of its tremendous scalping and intraday trading signals with a higher level of trading success in the Forex market.
Mostly scalpers are very busy analyzing various Forex currency pair charts at a time to find trade signals and this system does most of your works like finding the right trend direction, drawing trend lines and dynamic stop levels for your possible Forex trade entries.
The Best Trading System fits best with major Forex currency pairs and adjusts best with M15 trading charts. Newbie traders may find themselves some extra comfort in their regular Forex trading life by applying this best trading system in their chart.
After a successful completion of installing The Best Trading System at your MT4 software, your trading chart should appear as the one shown in the picture below:
Time Frame
Currency Pairs
Indicator Factors
Ratings
M15
Major Pairs
5
9.7/10
The Best Trading System Anatomy
Upper & Lower Trend Line: These lines works as trend based resistance and support levels respectively which changes statically on the basis of price action signals. In case of a bullish trend this channel is plotted heading upward direction and plotted towards downward direction to represent a bearish trend.
Mid Trend Line: This level in between Upper and Lower Trend line has been used to find better confirmation about upcoming price movements. For example: In a bullish trend, if price breaks out above this level then it confirms the potentiality of price to touch the Upper Trend Line level.
BBand Stops: These levels work as dynamic stop levels for your trade entries. For long entry always put your stop limit below its levels and for short entry put the stop level above its levels. You can also update the stop levels based on BBand Stop level changes.
TLab CCI RSI: It is a combination of dual CCI levels along with RSI. CCI levels above zero level states the strength of the current trend (both bullish and bearish) on the other hand, RSI near 30 level signals the oversold condition of the market and near 70 indicates market is reaching at its overbought level.
The signaling bar is supported by the Lower Trend Line
BBand Stop level is plotted below the price level
RSI bounces to upwards from oversold levels
CCI levels are above zero parameter
Set stop loss below the BBand level
Exit long whenever price is rejected to go further upwards at the Upper Trend Line area
The Best Trading System: Sell Parameters
A bearish price bar has been formed
The signaling bar is resisted by the Upper Trend Line
BBand Stop level is plotted above the price level
RSI bounces to downwards from overbought levels
CCI levels are above zero parameter
Set stop loss above the BBand level
Exit short whenever price is supported at the Lower Trend Line area
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Arun Lama
I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.
Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
