Gool Forex System has been created based on a combination of multiple trend-following indicators. It uses a set of 3 Moving Averages to determine the basic direction of the trend and then uses Ichimoku Cloud in order to filter the primary trend signals. This double trend filtering process helps this system to produce trade signals with better accuracy on a consistent basis.
Gool Forex System can be applied to trade all kinds of forex currency pairs available at the market. Besides, this system fits with all sorts of timeframe charts within the forex MT4 trading platforms.
Gool Forex System Overview:
Once you’re done with the installation of Gool Forex System at your MT4 terminal, your trading chart will appear like the following image:
Gool System Anatomy:
- 89 SMA Channel: This 3 band 89-day Simple Moving Average is plotted based on high, open, and close of the recent price bars of the selected periods. Price closing above the indicator means the trend is bullish and an opposite scenario is interpreted as the bearish trend signal.
- Ichimoku Kinko Hyo: A very famous Japanese trend-based indicator. It creates its Ichimoku Cloud around the price bars at the main chart window. For long entry, the price must be holding its position above the cloud area. Conversely, price remains below the cloud level signals to go short. Price stays inside the cloud signals the trend as neutral.
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Gool Forex System: Buy Parameters
- Price holds its position above both the 89 SMA Channel and the Ichimoku Kinko Hyo
- A bullish bar forms right above the indicator levels
- Buy triggers when the above conditions are met and the high of the respective bullish bar is broken by the following candles
- Set stop loss below the 89 SMA Channel
- Exit long/take profit once price enters the Ichimoku Kinko Hyo cloud area
Gool Forex System: Sell Parameters
- Price holds its position below both the 89 SMA Channel and the Ichimoku Kinko Hyo
- A bearish bar forms right below the indicator levels
- Sell triggers when the above conditions are met and the low of the respective bearish bar is broken by the following candles
- Set stop loss above the 89 SMA Channel
- Exit short/take profit once price returns back to the Ichimoku Kinko Hyo cloud area