Forex Deep Profit Labs forex trading strategy
myforex Deep Profit Labs strategy is channel-based because trading takes place within a price channel, and is built on multiple indicators.
Let 's take a closer look at these myforex indicators:
TMA Gangs (Price Border) - is an indicator that depicts the channel using continuous or dashed black lines located above and below the price. Based on an indicator such as ATR with period 110.
Fibo Level - displayed by a green line with a dashed line with the word Resistens. Thanks to it, it is possible to observe indicators of support and resistance and also пивот levels. Using Fibo Level, you can set up teak profits and stop loss.
Candle Shadow - displayed as black and white bars above the price. In fact, it is a type of moving average in which the graphical parameters have been changed. For the figures available in the initial installations, the rolling one is set with a period of 10.
Arrow Gangs - is another of the copyright solutions displayed as up and down arrows. It is the alarm indicator. Since its code is closed, it is not possible to identify the "forerunner" of this indicator. The only configurable Length parameter is obvious and without explanation.
Super Trend - is an indicator displayed as a histogram of red and white colors in the first additional window. Used for filtering purposes.
The Laguerre indicator is an oscillator that defines a weighted trend line while relying on price movement. The indicator is highlighted by the fact that it uses only historical data in its calculations, without the help of other indicators.
Bar Gangs - is the next author 's indicator located in the second additional window and displayed as red and white columns. Used as a filter.
Signals used to indicate the opening of a long position by Deep Profit Labs
A buy order must be opened when the following set of conditions are met at one time:
The price is as close as possible to the lower limit of the price channel (can be noted not only from the dotted line, but also from the continuous line).
Arrow Bands issues a green arrow up.
Find the price near the support level or at the time of repelling it.
Candle Shadow shows a white column.
Laguerre punches level 0.15 from the bottom up.
The Super Trend histogram turns white.
Bar Gangs column is painted white.
Since redrawing can be observed on many indicators, the entrance must be made only after the bar is closed.
Signals used to indicate the opening of the short position, according to Deep Profit Labs strategy
Price location - near the upper border of the price channel (taken into account not only the dashed line, but also the solid line).
Arrow Bands produces purple arrows that go down.
The price is either near or repelled from the support level.
The Candle Shadow column is painted black (it can be redrawn, and with a powerful signal it can be really ignored).
Laguerre punches the 0.85 level from top to bottom.
The Super Trend histogram is painted red.
Bar Gangs turns red.
Again, due to the frequent redrawing of indicators, we enter only on the closing of the bar.
Stop Loss placement and exit myforex Deep Profit Labs strategy position
The forex trading strategy under consideration involves several options for defining stop salmon and closing items manually. So-called, classic way. The feet are set at local highs and lows. Generally doubtful option. Due to the fact that when trading in the channel, the trader catches the beginning of the trend in the opposite direction, being at the top of the completion of the current trend.
The second method involves placing a stop loss 20 points from the closest boundary of the channel - the one from which it was pushed. This option can be described as universal, but in some situations the distance may prove small, and the feet may be disrupted by random price movement.
Specialists do not advise to exceed the risk for one position by more than 3%. If the rules are strictly observed, the principle of maximum profit and minimum loss will work.
In conclusion, Deep Profit Labs forex trading strategy is quite interesting and attractive because it makes it possible to capture the trend at the base with minimal delay. It is equipped with reasonably and with knowledge of selected indicators, and also complementary. The system has detailed rules governing entry, exit, and setting of protective feet.