The DSS of momentum additional line should be orange at the signal candlestick. It should be located below the signal dotted line that is, it is breaking through it or has already broken. The below screen displays a candlestick that closed at the level of MA the red line , almost fully below the line.

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The below screen shows that the DSS is below its signal line at the signal candlestick. Besides, the blue line is flat, not rising. Signals are relatively rare, you can wait for one signal for a few days. Do not trade when the market is flat. Test this strategy directly in the browser and assess the performance. This is a profitable weekly trading strategy, which can be used for position trading with different currency pairs. It is based on the springy action of the price — if the price rose quickly, it should fall sooner or later.

We can use a chart in any terminal and a timeframe W1 although you can also use a daily timeframe. You should analyze the size of the candlestick body of different currency pairs. Next, choose the pair with the longest distance between the opening and closing prices within the week.

Four Types of Forex (FX) Trend Indicators

You will enter a trade on this pair at the beginning of the next week. The bear candlestick, indicating the price action for the previous week, has a relatively big body. You enter a long trade at the beginning of the next week. You should set a stop loss at a distance of points and a take profit - at points. In the middle of the week, exit the trade. It may be closed with a take profit or a stop loss. Then, again expect the beginning of the week and place a new order. Do not place orders at the end of the week.

It is clear from the chart that, following each bearish candlestick, there is always a bullish one although it smaller. The matter is that what period you should take to compare the relative length of candlesticks. It is individual for each currency pair. Note that some small bear candlesticks were followed by rising candlesticks. The relatively small fall, occurred in the previous week, may continue.

The bullish candlestick, indicating the action during the previous week, has a relatively big body. Red arrows point to the candlesticks that had large bodies relative to the previous bullish candlesticks. All signals were profitable except for the trade that is marked with a blue trade.

The disadvantages of the strategy are rare signals, although the percentage of profit is quite high. And you can launch the strategy trading multiple currency pairs. This strategy has an interesting modification based on similar logic. Investors, day traders, working with a trading volume prefer intraday strategies.

Best Forex Indicators

They do not have enough money to make a strong influence on the market. So, if there is a strong market action in the weekly chart, this signal the pressure made by big traders. Differently put, if there are three weekly candlesticks in the same direction, the fourth candlestick should be in this direction too.

The psychological factor is also important here. Those, who have been pushing the market in one direction, should start taking the profit in a month. It is good if the next following candlestick is bigger than the previous one.

Doji candlesticks candlesticks without bodies are not taken into account. A stop loss is set at the close level of the first candlestick in the sequence. It can take 2 or 3 months. But if you launch the strategy on multiple currency pairs, this term of expectation is justified. Take swaps into account!

What are Forex Indicators?

The strategy is referred to as a universal one, and it is often recommended as the best Forex strategy for consistent profits. This is a trend strategy. Most sources suggest using it in different timeframes, including minute ones, but market noise lowers its efficiency in very short timeframes.

EMA with periods 5, 25, and Apply to — close closing prices. You can enter the trade at the same candlestick when the moving averages have crossed. A stop loss is set close to the local low, take profit is points. But if you manage trades manually, you can make a bigger profit. It indicates a change in the slope from a rise to a flat. It is clear from this screenshot that all the three signals two longs and one short yielded profit. One could have entered the trade at the next candlestick.

It is after the signal one to be sure in the trend direction. However, a good entry point would have been missed. It is up to you whether to risk or not. These parameters will hardly work for hourly timeframes. Well, you are familiar with the theory now. I want to briefly describe how to launch these strategies in real trading. Step 1. Open a demo account.

Conclusion

It is free, you do not have to top up the deposit. On the website home page, there is the Registration button. Click on it and follow the instructions. You can also open an account in other menus.

Top Forex Technical Indicators and their Real time accuracy analysis. The truth you need to know!

For example, in the upper menu, trading conditions for an account, and so on. Step 2. Study the functions of the trader profile. It has a user-friendly, intuitive interface. You need to study the instruments on the platform and find out how to make a trade. The trader profile is described in this overview. Step 3. Open trading platform. LiteForex provides detailed descriptions of dozens of indicators and strategies.

There are also the answers to your questions and the recommendations of professional traders. LiteForex includes a professional trader blog , analytics, and a complex educational block. It provides all the necessary tools to develop your skills from a beginner to a professional.