Entropy Forex Trend following Strategy
This trend following trading system have two indicators, this is the alligator indicator created by Bill Williams and Entropy indicator (created by Aleksandr Pak ) which is an indicator of market strength.
Forex Indicators and setups:
- Alligator (13, 8, 5);
- EntropyMath forex indicator (12 period with 0.001 Buy level and -0.001 Sell level).
Buy Entry:
Condition: the candles are above the Alligator indicator.
- The Alligator Lip (green line) must cross above the Jaw (blue line).
- The Alligator Teeth (red line ) must cross above the Jaw (blue line).
- Entropy math 12 must cross 0.001.
- Enter a Buy trade at the retracement on the green line.
- Place Stop Loss below the most recent Swing Low.
- Take Profit at the same number of pips away from your entry price as your Stop Loss, i.e. a 1:2 or greater Risk/Reward Ratio.
Sell Entry:
Condition: the candles are below the Alligator indicator.
- Wait for the Alligator Lip (green line) must cross below the Jaw (blue line).
- Wait for the Alligator Teeth (red line) must to cross below the Jaw (blue line).
- Entropy math 12 must cross 0.001.
- Enter a Sell trade at the retracement on the green line.
- Place Stop Loss above the most recent Swing High.
- Take profit at the same number of pips away from your entry price as your Stop Loss, i.e. a 1:2or greater Risk/Reward Ratio.
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