Forex Crocodile System is a trend following strategy that is designed to trade in the forex market. However, you can also trade with commodities and any other market which are available on your metatrader 4 platform. This is really a very simple trading strategy. If you know the basics of forex trading you shouldn’t have problem with this system. Although the system itself is a very simple one the system can also be used by the experts. Due to the less use of indicators on the chart, your charts will really look simple and clean. The system will automatically generate the buying and selling signal for you. You can figure out the major support and resistance levels using this system. Those major support and resistance levels will work as a reversal zone for most of the time. Forex Crocodile System uses various technical tools like Moving average, RSI, Stochastic, etc. At the bottom of the chart you can see two momentum indicators which are the combinations of stochastic and RSI. These two indicators at the bottom of the chart will help you to confirm you trade.
So in overall Forex Crocodile System uses seven technical indicators for generating trade signals. When the Forex Crocodile System is correctly installed your chart window should look like this:
- Forex Strategist SR: Forex Strategist SR appears on your chart where there is a potential price reversal. It comes in two forms. When there is possible bullish reversal in the falling market, grey colored bricks like shapes appear below the price chart with the blue colored arrow pointing upward. And where there is a potential bearish reversal in a rising market yellow colored bricks like shapes appear above the price with a red colored arrow pointing downwards. This arrow will be one of the main signals for our trading.
- Forex Strategist MA: Forex Strategist MA consists of two moving averages one blue and another red.
- Bbands Stop:Bbands Stops is used to figure out the potential entry points.
- Forex Strategist Stops: This tool is used to find out the trend of the market.
- Forex Strategist Bull-Bear: Forex Strategist Bull-Bear filters the trend and makes it easier for traders to identify the market trend.
- RSI and Stochastic: RSI and Stochastic are used to find out the overbought and oversold conditions and the crossovers are used to confirm the trade.
Buying Conditions Using Forex Crocodile System.
- Price should be above Forex Strategist MA.
- Price should be above the Bbands Stops.
- Price should be above Forex Strategist Stops.
- Forex strategist Bull-Bear indicator should be blue in color.
- RSI and Stochastic should be below 50.
- Place your stop below the recent swing low.
- Take your profits as soon as forex strategist Bull-Bear indicator turns red.
Selling Conditions Using Forex Crocodile System.
- Price should be below Forex Strategist MA.
- Price should be below the Bbands Stops.
- Price should be below Forex Strategist Stops.
- Forex strategist Bull-Bear indicator should be red in color.
- RSI and Stochastic should be above 50.
- Place your stop loss just above the recent swing high.
- Take your profits as soon as forex strategist Bull-Bear indicator turns blue.
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