Here is another amazing swing trading Forex Octopus Trading System. Forex Octopus Trading System is a trend following forex trading system. When I carefully analyzed this forex trading system in the past data using back testing feature in MT4, it generated very good results. And I have optimized these indicators to gain the optimum results. Indicators used in Forex Octopus Trading system are very simple and popular ones. As this fx trading system is very simple it can be used by beginner traders as well. It doesn’t matter whether you are a beginner trader or an experienced trader, this fx trading system can be used to make money consistently in fx market.
If you are a newbie trader, consider educating yourself about the basic concept of trend. After a successful completion of installation of Forex Octopus Trading System in MT4, your chart will look like the one in the picture below:
Forex Octopus Trading System Overview
|Time Frame||Currency Pairs||Number of Indicators||Rating|
|M15, H1, H4, and Daily||Any||3||9.7/10|
Now I will explain a bit about the indicators used here.
Forex Octopus Trading Indicators Overview
|Main Chart Window||Indicator Window 1||Indicator Window 2|
|Moving Averages||Octopus 1||Octopus 2|
- Moving Averages
You can find three moving averages in this system. Yellow moving average is the fastest one; it is a 3-day moving average. Green moving average is a 13-day exponential moving average. And red moving average is a 55-day exponential moving average.
- Octopus 1
Octopus has two versions in this trading system; Octopus 1 and Octopus 2. Octopus indicate consists of green and red bars. Green bars indicate bullish dominance in the market while the red bars indicate bearish dominance.
- Octopus 2
Octopus 2 is same like octopus 1 but it has slightly different parameter which filters the trade more effectively.
Forex Octopus Trading System: Buy Parameters
- The currency pair, on the time frame you are watching, should be up trending.
- Yellow moving average should be above all the other moving averages.
- Octopus 1 and Octopus 2 indicator should form green bars.
- Market should be bouncing from the recent support level.
- Execute your buy trade when above parameters are met.
- Put your stop loss below the recent support level.
- Book your profit when yellow moving average falls below red moving average.
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Forex Octopus Trading System: Sell Parameters
- The currency pair, on the time frame you are watching, should be down trending.
- Yellow moving average should be below all the other moving averages.
- Octopus 1 and Octopus 2 indicator should form red bars.
- Market should be falling from the recent resistance level.
- Execute your sell trade when above parameters are met.
- Put your stop loss above the recent resistance level.
- Book your profit when yellow moving average rises above red moving average