This is a somehow new trading system. It was developed and it is based on trend following trading. It is a great strategy especially for the long term and intraday traders.
It employs a several indicators which include: the $_CC_Cloud_2, Forexjoker and nez_Alert indicators. But for the sake of simplicity and usability, the strategy come with an already compiled template that combines all the indicators necessary. But for the template to function you have to first insert the indicators into the metatrader platform.
Although the template may seem complicated, the strategy is quite simple to use. You just have to follow this article carefully. In actual fact is a trading system that is recommended to even the Forex beginners.
Fig.1. The Cloud with Nez alert trading strategy.
The Forexjoker indicator is displayed on a separate chart below the main trading chart. It generates a straight horizontal line that changes its color from yellow to blue. The nez_Alert indicator on the other hand generates arrows and two dotted lines. The arrows generated by the nez_Alert indicator are either red or blue. The blue arrow shows an uptrend while the red arrow shows a down trend. The two dotted line are just for showing the general market price trend. The $_CC_Cloud_2 indicator generates a region that is covered by either green or red dashes.
While using this trading strategy it is advisable that you use a time frame 30 min or higher. This is because the indicators that are used are not designed to work on tight timeframes of below 3o min.
The strategy is however suited for trading any currency pair of your choice. It will automatically integrate itself into whichever currency pair chart that you choose to use.
Rules to follow when using the Cloud with Nez alert trading strategy.
When to go long/place a buy/open a long position:
- The first thing to look at is whether the nez alert arrow is generated. If it is, then you have to ensure that it is a buy arrow (blue in color).
- Then you have to ensure that the Forexjoker indicator is blue.
- Then the $_CC_Cloud_2 has to be green.
- The Forexjoker indicator has to be yellow.
When to go short/ place a sell/open a short position:
- The first thing to look at is whether the nez alert arrow is generated. If it is, then you have to ensure that it is a sell arrow (blue in color).
- Then you have to ensure that the trend alert indicator is red.
- Then the $_CC_Cloud_2 has to be red.
- The Forexjoker indicator has to be blue.
Fig.2. Placing trades using the Cloud with Nez alert trading strategy.
After placing either a sell or a buy order, the order should be closed when an opposite arrow is generated even if all the other conditions still hold. For example, if you had opened a sell order and a blue arrow is formed while the cloud is still green, close the sell order immediately!
Download Free Forex Cloud with Nez alert trading strategy