The trading strategy may seem complicated because of the very many indicators that are used, but on the contrary this trading system is very simple to use. The use of the many indicators helps in getting rid of the noises (false signals). Again, most the indicators that are used in this trading system are custom indicators and they come with the metatrader and they are very easy to use. You should look for the template and the indicators (there are some indicators that do not come with the metatrader) of this trading system online. Once you download the template and load it onto your trading chart, the template will combine and display all the necessary indicators for trading using this trading strategy.
This is the most comprehensive trading strategy that you will ever come across. It combines very many indicators making it to give signals that are 100% precise.
The indicators that are used in this trading strategy are MACD, stochastic, RSI, Bears, Bulls, BBand stop, Moving average (30) and Parabolic SAR. It also shows the previous day’s lows and highs; these are seen well when the background color is changed to white. The trading strategy also provides three levels to place your take profit.
Fig.1. How the template of Jutawan Forex Strategy looks like.
The Jutawan Forex Strategy gives signals when a signal is given by the BBand indicator.
Fig.2. Picture showing the alert of the Jutawan Forex Strategy.
Also, if you look at the top left corner of the trading chart once the template has been loaded, you will see some texts showing the previous high, previous low, trend direction (e.g. Trend was down), market price where you should place an order (e.g. SELL @ 1.2045), stop loss level, three take profit levels and the owner and the account number. This information is very important to the trader since it summarizes all that the indicators are showing.
How to use the Jutawan Forex Strategy to place orders and close them.
When using the Jutawan Forex Strategy to trade the main things to look for are the arrows generated by the BBand and the trend direction. You should always ensure that you are trading in the trend direction.
Conditions to place a buy order:
- You should place a buy order only when the dotted line of the BBand indicator is green and below the market prices (candlesticks) and gives a green arrow.
- The trend should also be upwards.
- The MACD indicator should be above the zero line.
- The stochastic indicator should cross the level of 20 (but below the level of 80) moving upwards.
- The RSI should be above the level of 50 but below the level of 70.
- The bears indicator should be above the zero line.
- The bull indicator should be above the level of zero.
- The white dotted line of the Parabolic SAR should be below the candlesticks.
Conditions for placing a sell order:
- You should place a sell order only when the dotted line of the BBand indicator is brown and above the market prices (candlesticks) and gives a brown arrow.
- The trend should also be downwards.
- The MACD indicator should be below the zero line.
- The stochastic indicator should cross the level of 17 (but above the level of 20) moving downwards.
- The RSI should be above the level of 70 but below the level of 50.
- The bears indicator should be below the zero line.
- The bull indicator should be below the level of zero.
- The white dotted line of the Parabolic SAR should be above the candlesticks.
Fig.3. Placing ordersd using the Jutawan Forex Strategy.
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