Bible Forex Trading System is actually a scalping forex trading system. Since this forex trading system is concerned with taking profit in small swings of the market it is a scalping forex system.
You can also use this forex trading system for swing trading in higher time frames like H1, H4, and Daily. But I recommend you guys to use Bible Forex Trading System for scalping purposes as it was originally designed for this purpose. You should choose 1-minute and 5-minute time frames for the best scalping experiences.
I only upload trend following systems here. Therefore, without a doubt it is a trend following forex trading system. You should know basic knowledge of forex market trend before using this system. When you have this forex trading system in your platform, your chart should look like this:
Bible Forex Trading System Overview
|Time Frame||Currency Pairs||Number of Indicators||Rating|
|1-Minute and 5-minute||Any||3||9.6/10|
There are more than 3 indicators used in this forex trading system but I’ve focused only on these three because these are the major signal generator of this system and they work just fine.
Bible Forex Trading Indicators Overview
|Main chart window||Indicator window 1||Indicator Window 2|
|HMA||Fisher M1||Flat Trend|
HMA indicator works same like as a moving average but it has little different algorithms. It is a customized form of a moving average because it changes its color as per the trend of the market. When market is facing selling pressure this indicator turns red and when market is optimistic this indicator is green.
- Fisher M1
This indicator is nothing more than a histogram. Histogram whether can be a positive or negative. Positive histogram means market is bullish at the present time while the negative histograms indicate bearish market conditions.
- Flat Trend
Flat trend indicator has green and red bars. Green bars indicate bullish market while the red bars indicate bearish market.
Checkout Another Amazing Fx System: Bandit Flash Forex Trading System
Bible Forex Trading System: Buy Parameters
- The currency pair you are looking at should be up trending.
- Market should be bouncing from the recent support level.
- HMA indicator (moving average) should be green.
- Fisher M1 indicator should be positive.
- Flat Trend Indicator should form green bars.
- Buy when above parameters are met.
- Place your stop loss below the recent swing low.
- Book your profit when HMA indicator (moving average) turns red.
Bible Forex Trading System: Sell Parameters
- The currency pair you are looking at should be down trending.
- Market should be falling from the recent resistance level.
- HMA indicator (moving average) should be red.
- Fisher M1 indicator should be negative.
- Flat Trend Indicator should form red bars.
- Sell when above parameters are met.
- Place your stop loss above the recent swing high.
- Book your profit when HMA indicator (moving average) turns green.