Parabolic Miko Forex System is a forex trading system. This forex trading system is suitable for the swing traders. Therefore, the time frame used for this forex trading system can be higher than that of 15 minute chart. The Parabolic Miko Forex System is developed using highly complex algorithms but it is really easy to use. Although the Parabolic Miko Forex System generates the trading signal both in the direction of the trend and in the counter trend direction, we should only focus on entering in the direction of the market trend direction of the market. This forex trading system consists of plenty of indicators at the main chart window but we do not need to study each of them in order to make reliable trading decisions. It is a trend following trading system.
When the Parabolic Miko Forex System is correctly installed on your trading platform, your chart should see like this:
- THV Coral
THV Coral is a custom built technical indicator. It is similar to the moving average. In this forex trading system, THV Coral is used to figure out the major direction of the trend. When the market is above the THV Coral, you should understand that the market is uptrend and when the market is below the THV Coral, you should understand that the market is in down trend.
- SAR Colored
SAR Colored is a customized form of parabolic SAR indicator. This indicator can be used as a signal generator for making buying and selling decisions.
QQE indicator consists of two oscillators of green and red color. The crossovers of these two oscillators can be used to confirm our trading decision.
- Solar Wind
Solar Wind is a technical indicator which is composed of histogram bars which fluctuates in positive and negative territory.
Buying Conditions Using Parabolic Miko Forex System.
- Market price should be above the THV Coral
- Green SAR Colored should appear below the price levels.
- The green oscillator of QQE indicator should cross above the red oscillator.
- The histograms of Solar Wind should be in positive territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing lo.
- Take your profit when the red SAR Colored appears above the price chart.
Selling Conditions Using Parabolic Miko Forex System.
- Market price should be below the THV Coral
- RedSAR Colored should appear above the price levels.
- The green oscillator of QQE indicator should cross below the red oscillator.
- The histograms of Solar Wind should be in negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the greenSAR Colored appears below the price chart.
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