Starlight Forex System is a trend momentum forex trading system. It is a trend momentum trading system because it consists of both trend indicators and the momentum indicators. Starlight Forex System is a very simple forex trading system. This forex trading system is suitable for all the groups of traders from a newbie to an expert. Starlight Forex system doesn’t contain too many indicators which help to keep the chart clean and simple. In such types of simple system you should follow the rules of the system very strictly and should be able to maintain self discipline.
The main concept of Starlight Forex System is to enter in to the market on the basis of these momentum indicators which are in the indicator windows and also using the Bbands stop.
Starlight Forex System can be used to trade any currency pairs but consider the spread factors as well since some pairs have really high spreads which may affect your trade especially if you are a short term player. Regarding the time frame, time frame of 30 minutes or higher is recommended.
When starlight forex system is correctly installed on your trading platform, your chart should look like this:
- Bbands stop
Bbands stop moves above and below the price level. When the Bbands Stop is above the price level it is red and when it is below the price level, it is blue. The main idea here is to enter long only when you see the blue Bbands and vice versa.
- Kuskus starlight
It consists of ‘cross’ like figures of blue and red color. It fluctuates off the positive and negative territories. Main idea of using this indicator is you should buy only when the momentum is positive and vice versa.
- William’s percentage range
This is also a momentum indicator. You can use its overbought and oversold concept to enter/exit in the market.
Stochastic is also used to figure out the strength of the momentum.
Buying Conditions Using Starlight Forex System.
- Bbands stop should appear below the price level.
- Kuskus starlight v2 should be in positive territory.
- William’s percentage range should be in positive territory.
- Stochastic should be rising higher.
- Place a long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when Bbands stop
Selling Conditions Using Starlight Forex System.
- Bbands stop should appear above the price level.
- Kuskus starlight v2 should be in negative territory.
- William’s percentage range should be in negative territory.
- Stochastic should be falling lower.
- Place a short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when Bbands stop disappears.
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