RoboFx Forex Trading System
Platform: Trading Systems Last update: August 16, 2024The RoboFx Forex Trading System is a trend-following forex strategy. We must admit that it is pretty complex and it consists of eight technical analysis forex indicators delivering synergy effect. It is considered to be a profitable trading strategy, however, one needs to be disciplined and follow the rules of the system very strictly.
How to trade with the RoboFx Forex Trading System?
As we mentioned at the beginning of this article, the RoboFx Forex Trading System is made of eight indicators. We will now briefly introduce four of the most important ones:
- Super Trend Candles – you can see them on the chart and it’s really to understand them. Simply, the green candles indicate an up-trending market, and the red candles indicate a down-trending market.
- Hama System – that lagging forex indicator moves like moving average, but looks like bricks. When you see it blue-colored, it means the market is up-trending. Similarly, once you notice it red-colored, it means the market is considered down-trending.
- Power Trend – that forex indicator displays the green and red rectangular boxes, which you can see in the indicator window. When you see green rectangular boxes, it indicates bullish momentum is accelerating in the market. Conversely, when you can notice the red rectangular boxes, that means the bearish momentum is increasing.
- Trend History – it is a histogram indicator that changes its color to green and red as per the direction of the market. The green histogram indicates buying force while the red histogram indicates selling force.
Buy Signal
Follow these steps for a long trade:
- The overall market is bullish
- Super Trend Candles are green
- Power Trend is green
- Trend History is green
- Pallada Main Signal turns blue
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit whenever Hama System turns red or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- The overall market is bearish
- Super Trend Candles are red
- Power Trend is red
- Trend History is red
- Pallada Main Signal turns red
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit whenever Hama System turns blue or use your own method of trade exit
