Introducing the original Forex wave strategy. This is a very simple yet extremely effective forex system. The profit wave system was once widely used by professional money managers but later it became available for retail forex traders as well. If you do decide to give it a shot you can bet on one fact, it has been well tested under real market conditions and has generated tremendous results. This is one trading system that every forex trader has been waiting for, it does very good at identifying trends and it allows you to enter early almost 90% of your traders while providing you the perfect exits.
Once You Have Installed Profit Wave System, your platform should look:
On the main chart: The profit wave strategy uses lines in the main chart that look and work like moving averages. When the market is experiencing stronger bears, the indicator will turn red following price just above the candle bars. When the market is bullish, the indicator will turn light blue following price below the candle bars.
On the Indicator window: This is the part where you will see a histogram, you can use this histogram to confirm your trades. It is simple to read, when it is printing blue line above the seemingly zero line, it confirms bullish market conditions and when it is below the straight line with the orange color, it confirms bearish market conditions.
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Buying conditions using profit wave indicator
- The market should be in an uptrend.
- The main chart indicator should be light blue.
- The histogram should be above the straight line.
- Execute a buy order.
- Place the stop below the entry bar.
Selling conditions using profit wave strategy
- The market should be in a downtrend.
- The main chart indicator should be red.
- The histogram should be drawing the lines below the straight line.
- Execute sell order.
- Place the stop just below the entry bar.
Note! Always remember to adjust your stop to be equal to or less than 2% of your total capital.
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