Forex Secret Protocol Version 2 is a trend following strategy. Due to the many numbers of indicators used in this trading strategy, this strategy may look complex at first but it in reality it is very simple. In total this trading system uses 11 technical indicators. Among them two of them are plotted on main chart while the other 9 are located in the indicator window. This system can be used in different way by different types of traders. As the name of the indicator suggests, the aggressive traders and conservative traders may use this system differently. But to increase our probability of winning a trade we will execute trade only where there is very high chance of winning.
Let us study the 11 indicators what we will be using in Forex Secret Protocol Version 2 trading system.
- FSP Range and Spread: This indicator shows the current visible chart range or volatility, which helps us to determine if the pair has enough volatility to offer good tradable set ups. Also, it shows the current candle’s remaining time and the current pair spread.
- FSP Short Trend: This indicator uses some new calculations based on our regular TrendSentry to determine the short term trend direction.
- FSP Conservative Trend: This indicator uses all 3 basic indicators we have – TrendSentry, TrendEnforcer and Trendanator, to determine the most secure trend direction. That’s why it’s called Conservative Trend.
- FSP HTF Trend: This is our regular as per original FSP rules higher timeframe trend, but now there is no need to switch to higher timeframes in order to determine the long term trend direction there.
- FSP Fast Trend: This indicator shows the higher timeframe Trendanator color, which we are using for confirmation of the Ultra Aggressive type of entries.
- FSP Ultra Conservative Entry: This is a new entry type that uses the original Conservative Entry conditions along with the Trendanator’s bands break to determine the best and most secure entry.
- FSP Conservative Entry :This is an indicator that shows when there is a Conservative Entry.
- FSP Medium Aggressive Entry: This indicator shows when there is a Medium Aggressive Entry.
- FSP Aggressive Entry :This shows when there is an Aggressive Entry.
- FSP Ultra Aggressive Entry: This shows when there is an Ultra Aggressive Entry.
- FSP Fast Entry: This is an entry based on TrendSentry and Trendanator indicators.
Buying Condition Using Forex Secret Protocol Version 2.
- The entire FSP indicator should be blue in color like shown in the above chart.
- Stop loss should be placed just below the recent swing low.
- You should take your profit when anyone of the indicators change the color or disappear.
Selling Conditions Using Forex Secret Protocol Version 2.
- The entire FSP indicator should be red in color.
- Your stop loss should be just above the recent swing high.
- You should take your profits when any one of the FSP indicators change the color or disappear.
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