Forex Smart Pips System applies a double crossover trading strategy using four different moving averages for identifying the market trends.
It also includes price action indicators like daily pivots and momentum oscillators in order to produce a complete trading solution for its users.
Forex Smart Pips System can be applied to trade all kinds of forex currency pairs available in the markets.
Moreover, you can use it to trade on all sorts of timeframe charts within the MT4 trading platforms.
Forex Smart Pips System Overview
Once you’ve successfully installed System on your MT4 platform, your trading chart will appear like the image below:
Forex Smart Pips System Explanation
- 5 & 8 LWMA: 5 and 8-day Linear Weighted Moving Averages are used to plot crossovers that signal for the short-term changes in market trends. 5LWMA is greater than 8LWMA means the trend is bullish. Alternately, 8LWMA is greater than 5LWMA hints for the bearish trend in progress.
- 18 & 28 EMA: These are the 18 and 28-day Exponential Moving Averages, used to deliver crossover signals that indicate the changes in the daily market trends. 18 EMA moves above 28 EMA means the bullish crossover signal. Oppositely, 28 EMA moves above 18 EMA means it is a bearish crossover signal of the market trends.
- Daily Pivots: The pivot levels work as a useful guide for the traders. It indicates the possible swing levels of the market and also outlines the breakout levels of the price movements. These levels are mostly used as support/resistance of the market momentum.
- FX Smart Pips: It is a momentum oscillator. Its bars turn green and rise above its average line when the momentum is bullish. On the other hand, the bars turn red and jumps above the average line means the market is in bearish momentum.
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Forex Smart: Buy Conditions
- 5LWMA moves above 8LWMA
- 18EMA is greater than 28EMA
- Price is supported by the Daily Pivot level
- FX Smart Pips bars turn green
- Buy triggers when the above conditions are done
- Set stop loss below the current pivot level
- Exit long/take profit whenever 5LWMA moves below 8LWMA
Forex Smart: Sell Conditions
- 5LWMA moves below 8LWMA
- 28EMA is greater than 18EMA
- Price is resisted by the Daily Pivot level
- FX Smart Pips bars turn red
- Sell triggers when the above conditions are done
- Set stop loss above the current pivot level
- Exit short/take profit whenever 8LWMA moves below 5LWMA