Blackedge Fx System is a trend following forex trading system developed by Josh Taylor. I must say he has done an amazing job by making such a good forex trading system which actually works in a real market environment. Blackedge Fx System is very clean and it is easy to use. Blackedge Fx System is highly profitable in a trending market. It may not be a wise decision to use this forex trading system in a very choppy market environment. This forex trading system is loved by many newbie traders as well as experienced traders because it is very easy to master. But it is not so easy to follow rules when you involve your real hard earned cash. You are likely to get manipulated by your own emotions. Such emotional factors should be avoided as much as possible to gain consistency in trading through any trading systems.
Blackedge Fx System Overview
|Currency Pairs||Number of Indicators||
M15, H1, and H4
After you install your Blackedge Fx System in your MT4, your chart should look like the one shown below. Click here to learn to install trading system in your platform.
Blackedge Fx Indicators Overview
Main Chart Window
- Renko Bars
Renko Bars are special kind of bars which are quite different from ordinary bars. Actually renko bars ignore time factor. They form only when market price travel certain range. For example if price rises 10 pips or falls 10 pips a bar is formed but you can set that range. In this trading system you can use pure renko charts or simple chart which you get after installing above indicators. Bear in mind that chart I’ve shown above is not a renko chart but it is definitely a useful chart.
- Scalp Cycle
Scalp cycle consists of histogram which forms silver color and red arrows on the top of histogram. These arrows indicate momentum of the market. When you see silver arrows you should look for buying and when you see red arrows you should be looking for selling.
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Blackedge Fx System: Buy Parameters
- Currency pair you are looking should be trending upward.
- Market should be around support region.
- Renko bars should form white bars.
- Scalp cycle indicator should form silver arrows.
- Execute your buy trade when all of the above parameters are met.
- Place your stop loss below recent support level.
- Book your profit when Scalp cycle indicator forms red arrows.
Blackedge Fx System: Sell Parameters
- Currency pair you are looking should be trending downward.
- Market should be around resistance region.
- Renko bars should form red bars.
- Scalp cycle indicator should form red arrows.
- Execute your sell trade when all of the above parameters are met.
- Place your stop loss above recent resistance level.
- Book your profit when Scalp cycle indicator forms silver arrows.