Deep Profit Lab is a forex trading system which is basically a swing trading system which generates signals based on momentum indicators and the indicator called candle shadow. Deep Profit lab is a forex trading system and this forex trading system is pretty simple and even the newbie traders can use this system and make good money. The system can be used to take positions in the direction of the major trend and in the counter trend direction as well but it is highly recommended that you only trade in the direction of the major trend. There are 15 various tools including technical indicators and other tools in the main chart window while there are only two indicators in two different indicator windows.
Although there are so many indicators in Deep Profit Lab forex trading system, we will focus only some of them in order to make our trading decisions. To be specific, we will use arrow bands, candle shadow, laguerre, super trend, and bar bands. You will get the best result when you combine all these indicators. With Deep Profit lab you can trade in any currency pairs and on any time frames higher than the 5 minutes.
When Deep Profit Lab is correctly installed on your trading platform, your chart should look like this:
- Candle Shadow
Candle shadow is the candle bars that look like ordinary candlesticks. This indicator can be used to get crossovers signals so that we can buy or sell accordingly as per the signal generated by the candle shadow.
- Arrow bands
Arrow bands are the pink and green arrows that appear above and below the price charts. It’s a buy signal when you see a green arrow and it’s a sell signal when you see a pink arrow.
Laguerre is a black oscillator indicator that you can see in the two indicator windows. The general rule is you should be buying when this indicator is trending higher and vice versa.
- Super Trend
Super Trend indicator consists of white and red histograms. White histograms indicate the bullish move while the red histograms indicate bearish move.
- Bar Bands
Bar Bands consists of white and red histograms like of Super Trend indicator. You should be buying when you see white bars and sell when you see red bars.
Buying Conditions Using Deep Profit Lab.
- Price should cross above the candle shadow
- Green arrow bands should appear below the price chart.
- Super Trend indicator should form white bars.
- Laguerre indicator should trend higher.
- Bar bands indicator should form white 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 pink arrow bandsappear above the price chart.
Selling Conditions Using Deep Profit Lab.
- Price should cross below the candle shadow
- Redarrow bands should appear above the price chart.
- Super Trend indicator should form red bars.
- Laguerre indicator should trend lower.
- Bar bands indicator 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 greenarrow bandsappear below the price chart.
Download Free Forex Deep Profit Lab System