The Mandrake Trading System identifies trend-following buy-sell signals in MT4 platforms. It comprises numerous trend and momentum indicators that help the system determine solid trading opportunities in all market sessions.
Technically, Mandrake Trading System suits all MetaTrader 4 timeframes. So, you can concentrate on long-term opportunities and simultaneously scan day trading signals. Apart from expert professionals, beginners will also find this strategy useful for forex and stock trading.
Mandrake Trading System Overview
The Mandrake Trading System makes a unique combination of BB-HL (Bollinger Bands), Pivot Points, Heiken Ashi, EMA, and RSI-Van trend filters. These indicators togetherly provide a clear overview of the overall market trends.
Mandrake Trading System Explanation
The Mandrake Trading System uses the BB-HL bands to assess the dynamic S/R zones of the market. Look for long opportunities when the price rejects to exceed the higher band. Contrarily, consider short signals when the price rebounds from the lower BB-HL level. Besides, you can use Pivot Points to determine horizontal support/resistance levels.
The RSI-Van signals the changes in current market momentums. We’ll anticipate a bullish or bearish market trend depending on whether the indicator value is above or below the 50-level.
Before executing an entry, you can use the set of trend oscillators at the bottom that offers additional confirmations of the current market momentum. These indicators also identify trend reversal patterns that help make trade-exit decisions.
Mandrake Trading System: Buy Conditions
- The price rebounds from the lower BB-HL Bands
- The price also exceeds the 10 EMA
- Heiken Ashi bars turn blue
- RSI-Van is above 50
- Stoch, CCI, and iTrend bars turn blue
Also Read: Exness Review – Is it The Best Forex Broker?
Mandrake Trading System: Sell Conditions
- The price starts declining from the higher BB-HL Band
- Also, the price moves below the 10 EMA
- Heiken Ashi plots red bars
- RSI-Van drops below 50
- Stoch, CCI, and ITrend display red bars