Light Forex System is an example of how to build a profitable Forex trading strategy by using some basic but best Forex indicators. It is a trend based Forex trading system which signals both the entry and exit of the market with less lagging problems. For its simplicity of use and easy chart reading, it is especially admired by newbie trend following Forex traders.
Light Forex System adjusts fine with all Forex currency pairs and fits well with any sort of timeframe chart. All you need to do is to follow its trading rules with proper discipline.
Light Forex System Overview
Once you are done with the installation of Light Forex System at your Forex MT4 platform, your trading chart will appear as the following image:
|Time Frame||Currency Pirs||Indicator Factors||Ratings|
Light Forex System Anatomy
- 28 SMA Set: This 28-day period Simple Moving Average set works as a trend decider. For a bullish trend, price must close and hold its position above the SMA set level. On the other hand, price closing and holding below the SMA set level signals the bearish trend.
- RSI: One of the best momentum indicators around the market. Its value above 50 signals the bullish momentum and indicates the bearish momentum whenever the value turns below 50. RSI at 70 signals the overbought condition and at 30 signals the oversold of the condition respectively.
- BBSqueeze: One of the very effective Forex trend indicators around the online trading world. Its bars turn green with positive value signals the bullish trend. On the other hand, its bars turn red carrying a negative value indicates the trend as bearish.
- MACD: A widely popular and useful Forex momentum detector. MACD value above its zero level indicates the bullish momentum and turns below zero level to signal the bearish momentum of the market.
Light Forex System: Buy Parameters
- Price closes above the 28 SMA Set level and forms a bullish candle
- RSI value rises above 50
- Both BBSqueeze and MACD represent the positive value
- Buy triggers whenever the above conditions are met
- Set stop-loss limit below the SMA Set level
- Exit long/take profit whenever both RSI and BBSqueeze turns negative
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Light Forex System: Sell Parameters
- Price closes below the 28 SMA Set level and forms a bearish candle
- RSI value moves below 50
- Both BBSqueeze and MACD represent the negative value
- Sell triggers whenever the above conditions are met
- Set stop-loss limit above the SMA Set level
- Exit short/take profit whenever both RSI and BBSqueeze turns positive