True Point Trading System follows a trend following the forex trading strategy which includes MA crossovers, RSI, and ADX in the background. All its calculations of price data come out as trade signals by two simple indicators so that everybody can understand the signals and apply it for live trading purposes.
True Point Trading System can be applied to trade all kinds of forex currency pairs available in the market. Furthermore, this system suits all sorts of MT4 timeframe charts thus supports all types of trading styles.
True Point Trading System Overview
Install True Point Trading System on your MT4 platform. Once done, your chart should appear like the following image:
True Point Trading System Explanation
- True Point Signals: It uses a crossover signal between 5 and 10-day Simple Moving Averages. The crossover signals are plotted by the green/red arrows around the price bars. These arrows also point to the direction of the possible market momentum. If you’re looking for a trade entry, your trade direction must be matched with the direction of the arrow signals.
- Trend Color Signals: This indicator is a combination of the Average Directional Index and the Relative Strength Index. It uses a 14-day period ADX and a 21-day period RSI for demonstrating the trend signals. It turns yellow when the trend is bullish and turns red to signal the bearish trend of the market.
Also Try: FXOpen Broker
True Point: Buy Conditions
- True Point Signals plot green arrows below the price candle and points upwards
- Trend Color Signals plots yellow bars
- A buy can be triggered when the above conditions are met at the same time
- Set stop loss below the True Point Arrow
- Exit long/take profit whenever True Point Signals plots a red arrow above the price candle
True Point: Sell Conditions
- True Point Signals plot red arrows above the price candle and point downwards
- Trend Color Signals plots red bars
- A sell can be triggered when the above conditions are met at the same time
- Set stop loss above the True Point Arrow
- Exit short/take profit whenever True Point Signals plots a green arrow below the price candle