RMO with Ichimoku is a forex trading system. RMO with Ichimoku is a swing trading forex trading system. If you are skilled at scalping, you can use this forex trading system for scalping purposes as well. The RMO with Ichimoku consists of several technical indicators on the main chart window which generate buy/sell signals and the technical indicators in the indicator window validate the signals generated by the indicators in the main chart window. The RMO with Ichimoku forex trading system works best in a trending market conditions. It would be wise to not trade in a sideways market using this forex trading system.
When you install RMO with Ichimoku forex trading system in your trading platform, your chart should look like this:
IChimoku works as a support and resistance levels and it also helps to determine the trend of the market. There are few other lines on the main chart window but you can only focus on clouds of the Ichimoku.
On the right side of the screen you can see different arrows indicating the direction of the market. When you are trading on any timeframe make sure that near term time frame market supports your direction of entry/exit. Suppose, if you are looking to buy as per the analysis done on H4 chart, then market should be up on H1 and daily time frame.
The RMO indicator consists of histogram that moves in positive and negative territory. When the histogram is positive, it indicates bullish market conditions and you should be looking for buy while when you see negative histograms, it indicates selling.
Buying Conditions Using RMO with Ichimoku.
- Market should be up trending.
- The market should cross above the Ichimoku indicator.
- The RMO indicator should be in positive territory.
- The majority of the indicators on the right box should show buy signal.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take you profit when the market crosses below the Ichimoku Indicator.
Selling Conditions Using RMO with Ichimoku.
- Market should be down trending.
- The market should cross below the Ichimoku indicator.
- The RMO indicator should be in negative territory.
- The majority of the indicators on the right box should show sell signal.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take you profit when the market crosses above the Ichimoku Indicator.
Download Free Forex RMO with Ichimoku Strategy
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