Free Forex Indicators (MT4), Trend Following Indicators
Serpent Trading System
By Arun Lama
Updated On
The Serpent trading system is a collection of technical indicators for MetaTrader 4, including GannHiLo-History, GG-RSI-CCI, and Ichimoku, that are used to identify trends and potential entry points for trades in the forex market.
It’s important to use it in conjunction with other technical and fundamental analysis and proper risk management when entering a trade.
This is a trend-following indicator that uses multiple moving averages to identify trends and potential areas of support and resistance.
The RSI and CCI are momentum indicators that help identify overbought and oversold conditions, while the Gann Grid helps traders identify key levels of support and resistance.
Lastly, the Ichimoku indicator is a trend-following indicator that uses multiple moving averages to identify trends and potential areas of support and resistance.
Serpent Trading System Explanation
The MT4 trend-following trading system includes the GannHiLo-Histo indicator, which is based on the Gann HiLo Activator and uses the difference between two moving averages to indicate the direction of the trend.
The Histo version of the indicator adds a histogram to the chart to make it easier to see the trend direction.
The GG-RSI-CCI indicator is a combination of three different indicators: the Relative Strength Index (RSI), the Commodity Channel Index (CCI), and the Gann Grid (GG).
Serpent Trading System: Buy Condition
The GannHiLo-Histo indicator is showing a bullish trend, with the histogram bars red turns blue and pointing upwards.
The GG-RSI-CCI indicator is showing oversold conditions, with the RSI line being below 30 and the CCI line being below -100.
The Ichimoku indicator is showing a bullish trend.
I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.
Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
