Forex King STS 2 Trading System
Trading SystemsThe Forex King STS 2 Strategy is a trend momentum trading system. The system is simple but very effective. It is made of following indicators:
- First indicator is EMA set to 365 (above bulls and below bears as you know).
- Second indicator is Zig Zag (it’s goal is to set stop loss).
- Third indicator is Forex_King-STS (developed by LukeB). It displays trading arrows for signals.
All three indicators are combined into one file. You should use this system on D1 (daily) or H4 timeframes. It works best at trending market conditions.
How to trade with Forex King STS 2
Open BUY position when:
- Price action trend following is above the EMA (this is displayed in separate window below main trading chart).
- There was arrow poiting up (and bar closed).
- Set stop loss at recent low.
- Take Profit it is up to you. It can be half of sl, same as sl or 1.5x of sl etc. Recommended exit with fast predetermined profit target.
Open SELL position when:
- Price action trend following is below the EMA (this is displayed in separate window below main trading chart).
- There was arrow poiting down (and bar closed).
- Set stop loss at recent high.
- Take Profit it is up to you. It can be half of sl, same as sl or 1.5x of sl etc. Recommended exit with fast predetermined profit target.
