Satanic Forex V5 Trading System
Platform: Trading Systems Last update: August 16, 2024The Satanic Forex V5 Trading System is a pretty universal forex strategy as you can utilize both trend-following and swing trading purposes. It plots two channels and use their crossover to find the possible entry points and swing levels of the market.
How to trade with the Satanic Forex V5 Trading System?
The Satanic Forex V5 Trading System consists of three four elements, which are the following:
- Snake & T3 EMA: Snake is the yellow line, that actually is a 6-day MA calculated based on the high-low method. It moves faster than the white line of T3 Exponential Moving Average. When the yellow Snake is above white T3 EMA it is considered as the bullish crossover. Conversely, when the yellow Snake is below the T3 EMA, the crossover is considered bearish.
- Gelang Setan: Gelang Setan is a dynamic price channel. On the chart, you can see its bands as green dotted lines. These bands are used to outline possible overbought/oversold levels of the market. Its lower band represents the oversold level and the upper band as the overbought area of the market. Yu can use these levels for early take profit levels.
- Jin Tomang: This indicator puts orange and red dots on the chart. It simply helps to identify Snake and T3 EMA crossover, as whenever it happens the indicator draws dot. Orange for bullish crossover and red bearish crossover.
Buy Signal
Follow these steps for a long trade:
- The background is dark green color
- The Snake / T3 EMA moves outside the Golang Setan channel
- Jin Tomang puts an orange dot
- 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 trade whenever the price touches opposite Golang Setan channel band or background changes color
Sell Signal
Follow these steps for a short trade:
- The background is red green color
- The Snake / T3 EMA moves outside the Golang Setan channel
- Jin Tomang puts an red dot
- 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 trade whenever the price touches opposite Golang Setan channel band or background changes color
