Light Forex System
Trading Systems Last update: October 7, 2024The Light Forex System is a custom trend-following strategy.
It is made of the following indicators: multiple Simple Moving Averages, RSI, MACD, and BBSqueeze.
Explaining light forex system
Buy Entry
Open long trade when the following conditions are met:
- Price closes above the colorful set of 28 period SMAs and forms a bullish candle;
- RSI value goes above 50 level;
- BBSqueeze and MACD shows the positive value;
- Place your stop loss a few pips below last swing low.
Sell Entry
Open short trade when the following conditions are met:
- Price closes belowthe colorful set of 28 period SMAs and forms a bearish candle;
- RSI value goes below 50 level;
- BBSqueeze and MACD shows the negative value;
- Place your stop loss a few pips above last swing high.
Exit Trade / Take Profit
Close your open position when the RSI / BBSqueeze goes negative for a buy order, or goes positive for a sell order, or use your own preferred method of trade exit.
