Fx King System is a forex trading system. Fx King System is a scalping and swing trading forex trading system. Fx King System can be used to trade in any currency pairs and on any time frames. The Fx King Systme is basically for the intermediate and experienced traders. It comes in renko version as well. Anyone with a big fan of renko charts can use this forex trading system. Renko charts have different kinds of advantages over other kinds of charts. Renko bars ignore the time factor of the market. It is only concerned with the price. You can set limit for a bar. Suppose, if you keep your bar limit of 20 pips, a bar will form only when the exchange rate travels 20 bars in a either direction. If the price never travels 20 pips in a long period of time, no bars will be formed.
When you install Fx King System in your trading platform, your chart should look like this:
If you prefer renko bars you can use it but it is not mandatory. Normally you can see blue and red bars. The blue bars indicate buying signal while the red bars indicate the sell signals. There are many other technical indicators on the main chart but it is still okay to focus only on color of these bars.
After the bars the blue and red arrows are the main signal generator indicator of this system. Red bars indicate selling and the blue bars indicate buying.
- RSI Filter
RSI Filter consists of blue and red bars. Blue bars indicate buying and red bars indicate selling.
- Traders Dynamic Index
This indicator consists of many oscillators but the yellow oscillator is the main one. When rests of the oscillators are above the yellow, it’s a bullish signal and when rests of the oscillators are below the yellow oscillator, it’s a bearish signal.
MACD consists of red and green bars. The green bars indicate buying and the red bars indicate selling.
Buying Conditions Using Fx King System.
- Market should be up trending.
- Market should be bouncing from recent support level.
- The bars of the indicator should be blue.
- A blue arrow should appear below the market.
- RSI filter indicator should be blue.
- All the oscillator of the Traders Dynamic index indicator should be above the yellow oscillator.
- MACD should form green bars.
- 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 a red arrow appears above the market.
Selling Conditions Using Fx King System.
- Market should be down trending.
- Market should be falling from recent resistance level.
- The bars of the indicator should be red.
- A red arrow should appear above the market.
- RSI filter indicator should be red.
- All the oscillator of the Traders Dynamic index indicator should be below the yellow oscillator.
- MACD should form red bars.
- 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 a blue arrow appears below the market.
Download Free Forex King System
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