Megatrend Forex Trading System
The megatrend is a forex trading system is based on the megatrend indicator. This method is suitable in all currency pairs and works best in 15-minute, 1-hour or 4-hour timeframe.
MT4 Indicators:
- Megatrend,
- JRSX
- FPL SR
Long Entry:
- The price must be above the red moving average indicator ( Megatrend )
- The JRSX Indicator is showing a red line at or above 70.
Short Entry:
- The price is below the green moving average indicator ( Megatrend )
- The JRSX Indicator showing GREEN line at or below 30
TARGETS and STOPLOSS
For Targets, we are going to use support and resistance indicator. This indicator shows the major support and resistance over a specific period of time.
Green line = Sell trades target
Red line = Buy trades target
STOP LOSS:
The recommended stop loss is the last support and resistance level. but if you don’t know how to trade with support and resistance, you can also use fixed number of pips for each trade.
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