• Home
  • About
  • Contact

Forexobroker

Download Our Forex Strategies and Indicators

  • Strategies
  • Articles
  • Dom’s Forex Course
  • Metatrader 4 Indicators
    • Free Metatrader Indicators
    • Paid Metatrader Indicators
  • Metatrader 4 Systems
    • Free Metatrader Systems
    • Paid Metatrader Systems
  • EA’s
    • Paid Expert Advisors
  • Forex Brokers

Momods Open Canal System

June 10, 2015 by Dominic Walsh Leave a Comment

Momods Open Canal System is a very simple strategy which is designed to trade in the forex market. It is a trend following strategy.  This system works best in a trending market and it doesn’t work well in a flat or sideways market. You should not try to enter in the countertrend direction. When testing this system on the past chart history I was amazed to see the results. It generated very accurate signals regardless of what time frame you use and what currency pair you trade. However, you might not get the better results using this system if you do not practice complete self discipline and follow the rules. Probably you may not success with any system if you do not train your mind. You should have the winner’s mindset not losers. Losers always blame the system, broker, platform, market while winners understand that the problem is they themselves so they try to correct themselves instead of blaming others.

This system uses only two types of indicators.

Momods Open Canal System

  • Signal Bars: signal bars indicator appears on the top right of your main chart window. It shows the market conditions in six different time frames including M1, M5, M15, M30, H1 and H4 using three popular technical indicators; MACD, STR and EMA. The main idea of this system is that if you are looking for a buy position on an hourly chart, these all indicators should show a green signal on the signal bar indicator.  It is best to long on the hourly chart if the signal bar indicator show the green on daily chart because it is always good to follow the bigger picture.  Signal bars also show you the spreads, pips to open, hi to low and daily average of the market.
  • Trend Alert: Trend Alert indicator appears on the indicator window of your main chart window. It is a collection of three lines that moves up and down below and above the mid line zero. When these trend lines are above the zero level it indicates the bullish market whilst when these trend lines are below the zero level it indicates the bearish market.

Buying Conditions Using Momods Open Canal System.

Momods Open Canal System

  1. Decide which time frame to trade and see the currency pairs which are trending upward in that time frame. Suppose if you want to trade USD/JPY in a 4 hour chart you should see the green signals generated by MACD, STR and EMAs by signal indicator on the 4 hour chart of USD/JPY.
  2. The trend alert signal should cross above the zero level. You should buy as soon as these conditions are met.
  3. You should set your stop loss just below the recent swing low.
  4. You should take profits as soon as that trend alert indicator touches the zero level.

Selling Conditions Using Momods Open Canal System.

Momods Open Canal System

  1. Decide which time frame to trade and see the currency pairs which are trending downward in that time frame. Suppose if you want to trade AUD/USD in a 4 hour chart you should see the red signals generated by MACD, STR and EMAs by signal indicator on the 4 hour chart of AUD/USD.
  2. The trend alert signal should cross below the zero level. You should sell as soon as these conditions are met.
  3. You should set your stop loss just above the recent swing high.
  4. You should take profits as soon as that trend alert indicator touches the zero level.

Open demo account to test this system.

Download Free Forex Momods Open Canal System

Download Momods Open Canal System

Filed Under: Free Metatrader Systems Tagged With: line indicator

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
  • Twitter
  • YouTube
Forexobroker

Archives

  • June 2022 (6)
  • May 2022 (8)
  • April 2022 (5)
  • March 2022 (7)
  • February 2022 (6)
  • January 2022 (7)
  • December 2021 (1)
  • November 2021 (4)
  • October 2021 (3)
  • September 2021 (4)
  • August 2021 (2)
  • July 2021 (1)
  • June 2020 (7)
  • May 2020 (7)
  • April 2020 (9)
  • March 2020 (7)
  • February 2020 (10)
  • January 2020 (3)
  • November 2019 (1)
  • September 2019 (3)
  • August 2019 (3)
  • June 2019 (1)
  • December 2018 (1)
  • November 2018 (4)
  • October 2018 (9)
  • September 2018 (14)
  • August 2018 (5)
  • July 2018 (8)
  • June 2018 (3)
  • May 2018 (9)
  • April 2018 (3)
  • March 2018 (10)
  • February 2018 (9)
  • January 2018 (13)
  • December 2017 (12)
  • November 2017 (14)
  • October 2017 (3)
  • September 2017 (3)
  • August 2017 (13)
  • July 2017 (25)
  • June 2017 (21)
  • May 2017 (20)
  • April 2017 (21)
  • March 2017 (15)
  • February 2017 (16)
  • January 2017 (18)
  • December 2016 (11)
  • November 2016 (21)
  • October 2016 (63)
  • September 2016 (24)
  • August 2016 (22)
  • July 2016 (16)
  • June 2016 (16)
  • May 2016 (16)
  • April 2016 (23)
  • March 2016 (29)
  • February 2016 (22)
  • January 2016 (22)
  • December 2015 (29)
  • November 2015 (28)
  • October 2015 (30)
  • September 2015 (41)
  • August 2015 (52)
  • July 2015 (47)
  • June 2015 (55)
  • May 2015 (50)
  • April 2015 (58)
  • March 2015 (22)

  • Home
  • About
  • Contact

Categories

  • Strategies
  • Articles
  • Dom’s Forex Course
  • Metatrader 4 Indicators
    • Free Metatrader Indicators
    • Paid Metatrader Indicators
  • Metatrader 4 Systems
    • Free Metatrader Systems
    • Paid Metatrader Systems
  • EA’s
    • Paid Expert Advisors
  • Forex Brokers

Visit Our Forex Strategies And Forex Indicators Below:

Forex Trading Strategies

Free Forex Indicators

Paid Forex Indicators

Paid Forex Strategies

“Our order process is conducted by our online reseller Paddle.com. Paddle.com is the Merchant of Record for all our orders. Paddle provides all customer service inquiries and handles returns.”

© 2015-2022 Forexobroker

Copyright © 2022 · Magazine Pro Theme on Genesis Framework · WordPress · Log in