|Welcome to currency trading with Profiforex!
|Let's make the following settings as an example.|
|When Stochastic is above its moving average, it signals an uptrend in the market.|
|In this case we open only long positions. Sell signals should be ignored.|
Accordingly, when the Stochastic is below its moving average it signals a downtrend in the market. In this case buy signals should be ignored.
Now we need to identify the entry points. We can do this with the help of the "Awesome Oscillator," by Bill Williams. To apply the Awesome Oscillator to the chart, press the "Indicators" button on the toolbar and choose "Bill Williams" - "Awesome Oscillator."
We won't change it’s settings.
The Awesome Oscillator gives a buy or sell signal called a "saucer."You'll see a red bar after two green bars or the green bar after two red bars.This is the trend reverse signal.
Additionally, we need to identify when to close the deal. We place to Stop-Loss, which limits our losses, at the level of the last fractal. Also we close the deal if we receive the entry signal in the opposite direction.
Also, we quit the transaction if we receive a signal, opposite in the direction, for an input.