Forex AFStar trading strategy is also referred to as the AFStar Intraday Forex Strategy. It was submitted by Robert. It is actually among the most resent strategies since it was developed and submitted on 07/08/2014.
It is mainly based on the AFStar Indicator, RD Pivot- lines indicator, Support- resistance 4H indicator, Divergence Petraus indicator, Corridor RSX indicator and the T3 2 color histogram indicator.
Fig.1. Template of the Forex AFStar trading System with the indicators pointed out.
You will not that the RD Pivot- lines indicator only displays the pivot points at the right hand side. This plays a huge role in decongesting the chart. Also with the Pivot point placed at the right it will ease to know the current position of the market prices in relation to the Pivot points.
The AFStar indicator is a type of a standard arrow indicator that gives Buy and Sell arrows. The arrows that the indicator displays are small and precise and thus the arrows don’t mess up the chart. You can also adjust their color in the customizing settings. It is well thought-out to be a universal.
The trading strategy is for use with the 30 min Time Frame. It best works for the major Currency pairs like the EUR/USD, GBP/USD, AUD/USD, USD/CHF, USD/CAD, GBP/JPY, EUR/JPY and AUD/NZD.
In the real sense, you should not open any trade when the AFStar indicator has not given an indication by either of its arrows. You should be patient enough to wait even if all the other indicators gives their signals.
Opening positions when using the Forex AFStar trading System.
Forex AFStar PLACING A SELL ORDER.
The trader should place a sell order if the following conditions are met;
- When the market prices touches or goes above line D1 resistance. This means the candles will be forming between D1 and H4 resistances or above the H4 resistance.
- When the Sell arrow of the AFStar indicator appears.
- When the RSI Petraus black line negative divergence shows up.
- When the RSX becomes red in color.
- When there is red bar in T3 2 color histogram dodger.
Example of how to place and close the sell order.
Forex AFStar PLACING A BUY ORDER.
A trader should place a buy order if the following conditions are met:
- When there is a buy arrow AFStar indicator.
- When the RSI Petraus black line positive divergence shows up.
- When the RSX becomes green in color.
- When there is a blue bar in T3 2 color histogram dodger.
Example of when to open and close along position.
After you have placed your trades, you should either use stop losses which should be set st reasonsble distances of about 10-20 pips away from the trade or if you are present close the order when any of the indicators gives an opposite signal.
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