Rainbow forex trading strategy




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Rainbow forex trading strategyRainbow Forex Trading Strategy

30 minutes or above

MA in Color (MA Period: 14, MA Type: 1)

Trend Lord (MA Period: 50)

ADX_TF_v1.0 (Time Frame: 0, ADX Trend Level: 18, ADX Periods: 14)

Long Position:

The rules for long entry are as follows.

1) Wait for the candlestick bar to close above the MA Line

Depends on the time frame that you trade. If you are trading EUR/USD on 4H time frame, you can take profit partially at 35pips, 70pips and 100pips. When you hit the first target, move your stop-loss to entry point.

Rainbow Forex Trading Strategy Buy Signal

In the picture above you can see that the price candle closes above the MA Line and ADX bar turns to green. Trend lord bar turns to blue. That is your buy (long) signal.

Short Position:

The rules for long entry are as follows.

Depends on the time frame that you trade. If you are trading EUR/USD on 4H time frame, you can take profit partially at 35pips, 70pips and 100pips. When you hit the first target, move your stop-loss to entry point.

25 pips (30M), 50 pips (4H)