J9D Forex Trading System
This system uses two timeframes – the 4-hour and 1-hour. A trend line is used to determine the direction in which the market is moving. Once this is determined and all indicators line up on the 4-hour, you will check to see if the same happens on the 1 hour, if yes, enter long or short trades as necessary.
This works best when you use all currency pairs.
MT4 Indicators:
- RSI (14)
- Stochastic (8, 3, 3)
- Moving Average (20)
- Mt4-stoplevel-reverse
- vb0.4 (ATR mode 9, 3, 0), trend lines.
Chart Setup:
Add Stochastic (8, 3, 3), RSI, Moving Average (20), Mt4-stoplevel-reverse reverse vb0.4
(ATR mode 9, 3, 0) and up or down trend line.
These indicators and trend lines should be inserted on both the 4-hour and the 1-hour timeframes.
Short trades:
- Market breaks an uptrend line
- Market moves below the moving average
- Stochastic needs to be at 80 or above
- RSI needs to be at 55 or above
- Wait for Mt4-stoplevel-reverse to show the direction the market will take indicated with a red down arrow.
- Enter, a short position on the next candlestick and place limit order at 70-100 pips below entry point if trading the 4-hour timeframe, and 30- 50 if trading the 1-hour timeframe.
Long trades:
- Market breaks a downtrend line
- Market moves above the moving average
- Stochastic needs to be at 20 or below
- RSI needs to be at 35 or below
- Wait for Mt4-stoplevel-reverse to show the direction the market will take indicated with a blue up arrow.
- Enter, a long position on the next candlestick and place limit order at 70-100 pips above entry point if trading the 4-hour timeframe, and 30- 50 if trading the 1-hour timeframe.
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