Fx Lord is a forex trading system. It is a simple forex trading system. This forex trading system can be used at any time frames and with any currency pairs. However, trading in smaller time frames than 5 minutes chart is not recommended as the market is really choppy in the smaller time frames. There are very few indicators used in Fx Lord Forex trading system. The system can be used by newbie traders as well as the expert traders. Signals will be generated by the indicators that are located at the main chart window and those signals are filtered by the indicators that are located at the indicator window. The main indicator of this forex trading system is Hama 2. The crossovers of Hama 2 and the market price will generate the buying and selling signals. When the market price is crossed above the Hama 2, it’s a buying signal and vice versa. The pivot levels that can be seen on the main chart can be used as a potential support and resistance levels or to place stop loss and take profit levels.
When the Fx Lord system is correctly loaded on your trading platform, your chart should look like this:
- HAMA 2
HAMA 2 is a custom made technical indicator. It is similar to the HeikenAshi chart but it is not a HeikenAshi chart. When the market is up, this indicator is blue and when the market is down this indicator turns pink.
Gold miner indicators works as a filtering tool. This indicator consists of blue and red bars. Blue bars indicate the buying signal while red bars signal the selling signal.
- Trend Lord
Trend Lord Indicator also does the work of filtering. The blue bars indicate the buying signal while the red bars indicate the selling signal.
- Digital MACD
Digital MACD is a customized version of MACD. It basically consists of MACD histogram and two oscillators. You should be buying when this indicator is up trending and you should be selling when this indicator is down trending.
Buying Conditions Using Fx Lord System.
- Price should be above the HAMA 2
- Gold Miner indicator should form blue bars.
- Digital MACD indicator should be trending higher.
- Place your long positions as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the HAMA 2 indicator turns pink.
Selling Conditions Using Fx Lord System.
- Price should be below the HAMA 2
- Gold Miner indicator should form pink bars.
- Digital MACD indicator should be trending lower.
- Place your short positions as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the HAMA 2 indicator turns blue.
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