Forex Kevinator Retracement Trading System MT4 is a super active retracement based system which has been specially developed for scalping purposes. Scalping is not a easy task and it is particularly suitable for experienced traders. But this strategy has tremendously been designed which is very easy to understand with a steady level of performance. Thus, it has enabled newbie scalpers to do the frequent trading task in a smart and effective way so that they can grow up their trading capital.
Forex Kevinator Retracement Trading Strategy uses TMA Bands and Retracement Finder to spot the entry/exit areas and the retracement levels respectively. As this strategy has specially designed for scalpers, it works best in M5/M15 timeframe charts and we recommend you to apply it only for major Forex currency pairs to avoid unusual volatility of the market.
Forex Kevinator Retracement Trading Strategy Overview:
Once you install this strategy in your mt4 system, your chart will appear as follows:
|M5 & M15
Forex Kevinator Retracement Trading Strategy Anatomy:
- TMA Bands: The upper band is the overbought level, lower band is oversold level and the middle band indicates the trend strength. Price above the middle band indicates bullish and below the band signals the bearish strength respectively
- Retracement Finder: Retracement or pullback is a normal nature of price movements. This indicator signals when the retracement period is over and price is going to re-join the major trend so that traders can take the market entry decision based on possible upcoming momentum direction. Retracement Finder above zero level express bullishness and below zero signals bearishness of the momentum.
Forex Kevinator Retracement Trading Strategy: Buy Parameters
- Retracement Finder is above zero level
- Price is supported by Lower TMA Band
- Buy triggers at the break of supported bar’s high
- Set Stop Loss below the supported bar’s low
- Take profit when price reaches the Upper TMA Band and Retracement Finder dives below zero level at the same time
Recommend: Forex Profit Trend Following System
Forex Kevinator Retracement Trading Strategy: Sell Parameters
- Retracement Finder is below zero level
- Price is rejected from Upper TMA Band
- Sell triggers at the break of rejected bar’s low
- Set Stop Loss above the supported bar’s high
- Take profit when price reaches the Lower TMA Band and Retracement Finder jumps above zero level at the same moment