Pluton Trading System is a forex trading system. This forex trading system looks confusing to the new traders at first but it can be used in simple way. There are some indicators which will not be not be used because they might just create confusion among the traders. This system is designed to trade in the 5 minutes chart. The way we will use this system is simple and even a layman can understand the system and trade profitably with it. System is basically a trend following system and it is suitable for swing traders. Pluton Trading System consists of five indicators on the indicator window and three indicators on the indicator window. There is one more indicator ‘Juice’ but it doesn’t show up anything so that will not be used.
There are pivot points on the main chart which are automatically drawn by the system. You can use those pivot levels to find out the potential support and resistance levels. There are many tools in this system which you can use for your advantages but using less works perfectly too. We will mainly focus on triggerlines indicator which will be our main signal generator and we will use the indicators that are in the indicator windows to confirm our trading decision.
When Pluton Trading System is correctly installed on your trading platform, your chart should look like this:
Triggerlines are a combination of two custom made moving averages which change their color as the direction of the market changes. It becomes yellow when the market moves upward and turns red when the market moves down.
StepMA is a technical indicator that consists of two oscillators of pink and yellow color. You should be buying when the yellow oscillator is above the pink oscillator and selling when the yellow oscillator is below the pink oscillator.
- Step RSI
Although the concept is different, it is very much similar to StepMA indicator.
It has also similar features to StepMA and Step RSI but it is based upon the stochasticconcept.
Buying Conditions using Pluton Trading System.
- Triggerlines indicator should be yellow.
- Yellow oscillator of StepMA should cross above the pink oscillator.
- Yellow oscillator of StepRSI should cross above the pink oscillator.
- Yellow oscillator of StepSto should cross above the pink oscillator.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when Triggerlines indicator turns red.
Selling Conditions Using Pluton Trading System.
- Triggerlines indicator should be red.
- Yellow oscillator of StepMA should cross below the pink oscillator.
- Yellow oscillator of StepRSI should cross below the pink oscillator.
- Yellow oscillator of StepSto should cross below the pink oscillator.
- 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 Triggerlines indicator turns yellow.
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