Forex Dominion System is a trading strategy that is specially designed to trade in the foreign exchange market or forex market but its application can be diversified in to other types markets as well. Trades should not have any confusion while trading with Forex Dominion system because it is not a complicated system. Newbie traders can also use this trading strategy to make money while it is even more useful to the matured traders. On the main price chart no indicators are used in Forex Dominion System. All the indicators used in this trading strategy are displayed on the indicator windows which are below the main price charts. There are only three indicators used in Forex Dominion System.
When the Forex Dominion system is installed in the right way on your metatrader your trading chart will look like this:
- Awesome Oscillator
Awesome Oscillator is oscillating technical indicator widely used by market technicians all over the world. It basically consists of red and blue bars which move up and down of the midlines which lie at the level 0. The bars of Awesome oscillator trend higher when the buyers dominate the market, and similarly the bars of Awesome oscillator trend deeper when the sellers take control over the market. Awesome oscillator is one of the significant indicators in generating the trading signals in the Forex Dominion System.
- Trend Momentum
Trend Momentum is a momentum indicator that oscillates to and fro through the midlines that lie at the level of zero. Basically it consists of green and red bars. The trend momentum indicator’s green bars represent the bull’s control in the market while the trend momentum indicator’s red bars indicate the bear’s dominance in the market. You should consider buying a currency pair when the bars of Trend momentum indicator are green and similarly, you should consider selling a currency only when the Trend Momentum indicator’s bars are red.
- Trend Strength
Trend Strength is another custom built indicator which basically consists of the histogram like looking red and blue bars. It will provide you information about the strength of the market. Higher trending blue bars indicate the bullish pressure in the market whilst the higher trending red bars indicates the bearish pressure in the market.
Buying Conditions Using Forex Dominion System.
- Awesome oscillator bar should be blue in color.
- Trend Momentum indicator’s bar should be green in color.
- Trend Strength indicator’s bars should be blue in color.
- You should place your stop just below the recent swing low.
- You should take profits when the Trend Momentum indicator begins to enter in to the negative territory.
Selling Conditions Using Forex Dominion System.
- Awesome oscillator bar should be red in color.
- Trend Momentum indicator’s bar should be red in color.
- Trend Strength indicator’s bars should be red in color.
- You should place your stop just above the recent swing high.
- You should take profits when the Trend Momentum indicator begins to enter in to the positive territory.
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