Introducing the new Fibo Code Forex Trading System. Fibo code is a sophisticated strategy that could be employed on diverse currency pairs. On the long run, the strategy has been proven profitable over multiple pairs, however on your early days using this strategy it is recommended that you limit your trading to 3-4 currency pairs.
The Fibo Code Forex Trading System uses three indicators; 10 period SMA, Fibotrend (custom indicator), Fibo DI (custom indicator).
Install Fibo Code Trading System, your platform should look like this:
Note that when using this system you need to have a bias on a day to day basis. A market bias is the direction you expect the market to go (bullish or bearish). It is possible to be bullish for a scalp trade in a bearish market or be bearish in a bullish market, it is much safer to flow with the market trend than going against it. In the context of the Fibo Code System you have to use Fibonacci channel to figure out your bias for the day.
Rules For Buying Up Trending Market
- A candle must cross the SMA and close above it.
- The Fibo DI should be green for confirmation.
- Fibotrend histogram must start going up.
- Stoploss must be below the last swing low.
Long Trade Exit Rules
- Price reaches strong resistance level.
- OR price crosses back below the SMA and Fibo DI turned red or Gray.
Rules For Selling Down Trending Markets
- Price must cross the 10 SMA downwards and the candle must close below it.
- The FiboDI should be red for confirmation.
- Fibotrend histogram must be pointing down.
- Stop must be above the last swing high.
Short Trade Exit Rules
- Price reaches a strong support level.
- OR Price crosses back the SMA and FiboDI turned Green or Gray.
We included a manual on the download file with more details to make sure you use the Fibo Code Trading System efficiently and accurately. The manual also features trade examples and annotations.