Abid Method Forex Trading System
The Abid method is based on the envelope and stochastic indicators. This system uses the major currency pairs and can work within a 4-hour timeframe. The stochastic is a simple momentum oscillator that can help identify overbought or oversold in the certain currency pairs.
MT4 Indicators:
- 1 Envelope (24, MA Simple, Close 0,38);
- 2 Envelope (24, MA Simple, Close 0,23);
- 3 Envelope (24, MA Simple, Close 0,62);
- 4H chart Stochastic (8,8,13);
- 1H chart Stochastic (14,8,13);
- 15 and 30 min char Stochastic (21,8,13);
- Money flow index (MFI) period 21;
- Relative strength index (RSI) period 14 ;
- William’s percent range (%R) period 35.
Short Entry:
- Red dot Shi_silvertrend must appear.
- The trend encounters with resistance (any level of band) or end of the sugarush wave as a sign of exhaustion level, which means that the pair is suitable for selling;
- The level of the stochastic is at the overbought level and the stochastic cross;
- %R confirm the overbought level.
- RSI and MFI confirm the overbought level.
Long Entry:
- The trend is likely at the end of the sugarush wave or finds strong support level.
- The blue dot of Shi_silvertrend must appear.
- The level of the stochastic is at the oversold level and waiting for the cross.
- The %R confirm oversold level.
- The RSI and MFI confirm the oversold level.
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