Description: Forex X Code is a very simple forex trend indicator. Use Forex X Code is recommended as part of the main trading system. Indicator Forex X Code gives very good results in a strong and volatile market is not very effective during the quiet movements. So use Forex X Code better on major currency pairs in the European and American sessions.
Characteristics of strategy Forex X Code Indicator
Type of strategy: Trend
Currency pairs: Major
Trading Time: European and American session
Timeframe: Recommended M15 or higher
M15, H1 and H4 time frames would be perfect for Forex X Code Indicator, due to the reason that the trend are more clearer on these time frames.
Rules for opening a long position:
Major trend should be up. This can be found out by looking at the information, that is displayed on the top right corner of the main chart window
Forex X Code indicator should be light blue in color
Place your Stop Loss just below the recent swing low
Exit (Take profit), when the Forex X Code indicator turns red
Rules for opening a short position:
Major trend should be down. This can be found out by looking at the information that is displayed on the top right corner of the main chart window
Forex X Code indicator should be red in color
Place your Stop Loss just above the recent swing high
Exit (Take Profit), when the Forex X Code indicator turns light blue.
If the indicator to draw a horizontal line, it indicates that the market is weak and it is better not to make trades.
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The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore, it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results. There is no guarantee that the systems, trading techniques, trading methods, expert advisors (EAs), scripts and/or indicators will result in profits or not result in losses.