Indi Wave Forex Trading Strategy helps traders to spot the overbought/oversold conditions of the market and plot the trade signals according to the change in market momentums. It only applies two indicators in order to examine the market momentum and deliver the signals thus, keeps the chart simple and easy to read, learn, and master the strategy.
Indi Wave Forex Trading Strategy can be applied to trade all kinds of forex currency pairs around the financial markets. Although, it suits great with lower timeframe charts line M1 to M15 within the forex MT4 platform and fits great with short-term trading/scalping activities.
Indi Wave Forex Trading Strategy Overview
After the installation of the strategy at the MT4 terminal, your chart will appear like the following image:
Indi Wave Forex Trading Strategy Anatomy
DSS-Mod: DSS-Mod uses a separate oscillator window to express the status of the market momentums. Its value below 20 is considered as the oversold condition and if reaches above 80 then represents the overbought condition of the market. In a general concept, you’ll look for buy signals at the oversold condition and sell from the overbought conditions of the market.
SHI Silver TrendSig: It plots tiny little dots around the price bars at the main chart window and signals for the possible trade opportunities at the market. A red dot below the price bar offers the buying opportunity and a blue dot above the bar signals for sell entry opportunity.
Readout: CAP Channel Indicator
Indi Wave: Buy Conditions
- DSS-Mod value turns below 20 signaling oversold conditions of the market
- SHI Silver TrendSig plots a red dot below the price bar
- Buy triggers when both of the above conditions are met at the same time
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever SHI Silver TrendSig plots a blue dot above the price bar
Indi Wave: Sell Conditions
- DSS-Mod value turns above 80 signaling overbought conditions of the market
- SHI Silver TrendSig plots a blue dot above the price bar
- Sell triggers when both of the above conditions are met at the same time
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever SHI Silver TrendSig plots a red dot below the price bar