As I wrote earlier, this strategy is used only two forex indicators, but these indicators are not standardized and are not included in delivery trading terminal MetaTrader4, the way it used to be. Therefore, both of these indicators, you can download from our website. A link to download one of them is located at the end of this article, as well as a link to an article on another forex indicator will be given below.
First, we need to choose the currency pair to trade using this trading strategy. Of course, you can choose a currency pair at its discretion, but I would recommend you to trade EUR / USD and the range of not less than 15 minutes.
Next, set the schedule for the chosen currency pair, the following forex indicators and the corresponding parameters:
Fisher1 indicator for period 55, the indicator will not indicate long-term trend;
LED Fisher1 10 period, we will indicate the short-term price movements, compared with the long-term trend;
LED Varmov, whose settings should be left as default.
It is recommended to set the colors of all three indicators, so that the coincidence of the signals of all indicators, they will be painted in one color.
Rules for entering and exiting positions Fischer trading system is very simple:
LED Fisher1 (55) is green;
LED Fisher1 (10), also painted green;
and indicator Varmov is green.
Signal after closing the candle, we are opening a random deal to buy all three signals.
Stop-loss set at the nearest local minimum. Or, if you are not ustaivayte, stop-loss order can be chosen in points for your currency pair and its time frame.
Take profit in this strategy is not fixed, but the deal is closed, when indicator Fisher1 (55) replaces its opposite color.
