Forex Hitman System plots a Moving Average based trend following forex trading strategy to assist its users in identifying the market trend and trade according to the direction of the market. It also uses the RSI (Relative Strength Index) as a reliable indicator to filter the trade signals generated by the Moving Average Crossovers.
Forex Hitman System suits with all sorts of timeframe charts within the Metatrader 4 platform. Furthermore, you can apply this system to trade any forex currency pair you like around the market.
Forex Hitman System Overview
After the installation when you load the System on your MT4 terminal, your trading chart will appear like the following image:
Forex Hitman System Anatomy
- 5 & 12 EMA: These Exponential Moving Averages plots crossover signals to identify the short-term changes in the market trends. 5 EMA moves above 12 EMA represents the bullish crossover signal and an opposite scenario is defined as the bearish crossover of the market trend.
- 21 & 80 EMA: As like as the 5 & 12 EMA these EMAs also produces crossover signals but to identify the intraday or daily trends. 21 EMA turns greater than the 80 EMA means the bullish crossover and in an opposite way, 80 EMA moves above the 21 EMA represents the bearish crossover signal.
- RSI: In this system, RSI has been used only to filter the trade signals rather than finding the overbought/oversold condition of the market. RSI above 50 certifies the trend as bullish and turns below 50to validate the bearish thrust of the market.
Also Read: Pin Bar: Powerful Action Trading Indicator
Forex Hitman System: Buy Parameters
- 5 EMA moves above the 13 EMA
- 21 EMA moves above the 80 EMA
- RSI turns above 50
- Buy triggers when the above conditions are met
- Set stop loss below the current 80 EMA level
- Exit long/take profit whenever the Moving Averages plot bearish crossover signals
Forex Hitman System: Sell Parameters
- 5 EMA moves below the 13 EMA
- 21 EMA moves below the 80 EMA
- RSI turns below 50
- Sell triggers when the above conditions are met
- Set stop loss above the current 80 EMA level
- Exit short/take profit whenever the Moving Averages plot bullish crossover signals
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