Morning Flat is a forex trading system which is best suitable for the swing traders. Morning Flat forex trading system can be used on time frames like 15 minutes, 5 minutes, and H1 time frames. Morning Flat is a very simple forex trading system yet very powerful one. One might not need any other forex trading indicators when uses this forex trading system because this forex trading system is complete in itself. One can grab pips as much as 50 pips-100 pips using this forex trading system. Best part of this forex trading system is it has very few parameters to trade on.
When you install Morning Flat indicator in your trading platform, your chart should look like this:
- Morning Flat Support and Resistance
The golden color and grey color horizontal lines that you see on the main chart are the support and resistance. The grey support line works as a buying signal and the golden resistance lines work as a sell signal.
- Morning Flat Moving Average
Moving Flat moving Average is a custom made moving average which consists of green and red moving average. The color of the moving average changes as per the direction of the market. The green moving average indicates buying and the red moving average indicates selling.
Regarding this forex trading system, you should also watch for something which these indicators don’t tell you. That is, you should look for the major trend. This system will generate trading signals in counter trend directions too but you should ignore them to increase your odds of winning.
Buying Conditions Using Morning Flat.
- Market should be up trending.
- Market should be bouncing from swing low.
- Grey horizontal support should appear below the market.
- Moving average should be green.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the moving average turns red.
Selling Conditions Using Morning Flat.
- Market should be down trending.
- Market should be retracing from swing high.
- Golden horizontal support should appear above the market.
- Moving average should be red.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the moving average turns green.
Download Free Forex Morning Flat Indicator
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