Forbi Simple Forex System MT4 is a trend following forex trading strategy. It is one of my favorite forex trading strategies as the entry/exit signals are very clear in this forex trading system. This forex trading is indicator can be very effective because it is very simple to use and it has proven track records. Also, when I backtested this forex trading system in MT4 back-tester, I found very impressive results which made me like this system even more.
Forbi Simple Forex System MT4 Overview
If you have been wondering how Forbi Simple Forex System looks like, I’ve attached a snapshot of this system here. It is how it looks like:Forbi Simple Forex System Overview
|Time Frame||Currency Pairs||Number of Indicators||Ratings|
|M15, H1, H4, and Daily||Major pairs only||4||9.8/10|
Forbi Simple Forex System MT4 Anatomy
|Main Chart Window||Indicator Window 2||Indicator Window 2|
|Bollinger Bands||Forbi system timing||Forbi system momentum|
Now let’s go through each of the indicators in brief.
- Bollinger Bands
Bollinger band is very popular technical indicator. It can be used to gauze the volatility of the market as well as the trend of the market. While the expansion and contraction of the bands tell you about the volatility of the market the bands can also work as a support and resistance levels. In this trading system we will use Bollinger bands to catch support and resistance levels.
- Forbi Arrows
Forbi Arrows are the green and red arrows that you see on the main chart window. The green arrows signal buy and the red signal sell. However, not all the signals are to be traded. In the following buy/sell parameters I will include the conditions when to buy and when to sell.
- Forbi System Timing
This indicator can work as a confirmation indicator based on market timing. When the histogram and the green oscillator are in the positive territory, it’s the time to buy and vice versa.
- Forbi System Momentum
Forbi system momentum also comprises of histogram and two oscillators. Basically, you can focus only on the histogram. Positive histogram refers bullish while the negative histogram refers to bearish mode.
Also Read: PZ Lopez Trend Indicator MT4
Forbi Simple Forex System: Buy Parameters
- Market should be up trending.
- Market should bounce from the lower band of the Bollinger band.
- A green arrow (Forbi arrow) should appear below the market.
- Forbi system timing indicator should be in positive territory.
- Forbi system momentum indicator should be in positive territory.
- Place your buy position when above parameters are met.
- Set your stop loss below the lower band of the Bollinger band indicator.
Simple Forex System: Sell Parameters
- Market should be down trending.
- Market should pull back from the upper band of the Bollinger band.
- A red arrow (Forbi arrow) should appear above the market.
- Forbi system timing indicator should be in negative territory.
- Forbi system momentum indicator should be in negative territory.
- Place your sell position when above parameters are met.
- Set your stop loss above the upper band of the Bollinger band indicator.