Forex Forecaster Advanced Trading System

This system is composed of only 2 custom built Metatrader 4 indicators. It can be used on all currency pairs and for all trading sessions.

Please use it on time frames, starting at the 30 minute chart and moving up to the weekly.

Chart Setup

Indicators: flat indicator (default settings), FXForecaster (default settings)
Preferred time frame(s): 30 Min and above
Trading sessions: Any
Preferred Currency pairs: Any

Download

Download the Forex Forecaster Advanced Trading System for Metatrader 4.

GBP/USD 4 Hour Chart

forecaster-forex-system

As shown in the chart above, the system provided us with 4 easy to spot trading opportunities. 3 Buy and 1 sell signal.

Trading Rules

Buy Rules:

  • Wait for the flat indicator to turn blue (bullish).
  • Wait for the FXForecaster purple bar to rise above the black bar (bullish momentum).

Enter long position. Set protective stop-loss 5 pips below the previous swing low price or use any other SL method your prefer.
Price objective: Close 50% of your position at risk-to-reward 1:1, close the remaining 50% at risk-to-reward 1:2 or better.
Move stop to break even for the second half of your position when you hit the first target.

Sell Rules:

  • Wait for the flat indicator to turn red (bearish).
  • Wait for the FXForecaster black bar to rise above the purple bar (bearish momentum).

Enter short trade. Set protective stop-loss 5 pips above the previous swing high price or use any other SL method your prefer.
Price objective: Close 50% of your position at risk-to-reward 1:1, close the remaining 50% at risk-to-reward 1:2 or better.
Move stop to break even for the second half of your position when you hit the first target.

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