![]() We need to see this indicator losing the bullish momentum and you should see the red histogram lines being plotted below the zero line.įollowing this, you should then look at the Fisher Yurik oscillator. Start by looking at the snake indicator which is in the first sub window of the price chart. The snake trading forex strategy – Short positionsįor short positions using the snake trading forex strategy, we recommend the following. Hold on to the long position until you get stopped out by the markets. Use the stop loss and trail your stops to the lower end of the T3 clean indicator. Set your stop loss to the recent low, right around where the up pointing arrow appeared. When all the above conditions are met, you can then take a long position at the market. This indicates that price is moving higher. You might also see the blue arrow pointing upwards. We need to see the uni signal and the T3 clean indicators making a bullish crossover. This indicates that the price action is moving higher.įinally, look to the price chart itself. Here, we need to see this indicator trading above the zero line and plotting rising green histogram bars. We need to see this indicator losing the bearish momentum and you should see the blue histogram lines being plotted above the zero line.įollowing this, you should then look at the Fisher Yurik oscillator. The snake trading forex strategy – Long positionsįor long positions using the snake trading forex strategy, we recommend the following. Let's now take a look at how you can trade with the snake trading forex strategy. Depending on your strategy, you may or may not use the signals generated from the GMACD indicator. Depending on the strength of the trend, you get an alert on when to buy or sell. This is a multi time frame indicator and it displays the trend strength across all the timeframes on the price chart. In the final sub window, we have the custom GMACD indicator. As and when the Fisher Yurik moves around the zero line, it depicts the short term bullish and bearish trends in the market. This indicator is also a histogram and once again moves around the zero line. In the second sub window of the chart, we have the Fisher Yurik indicator. It also changes color from blue to red and vice versa. Buy and sell signals also generated as and when the snake indicator moves around the zero line. This indicator works like a histogram and moves around the zero line. In the sub window, we have the snake force indicator. Therefore, it is advisable that you should remove them, if you are well versed in the time zone and in understanding the times for the candlesticks that are in question. These indicators are responsible for plotting the time zones on the top of the price chart and the countdown next to the candlestick. These indicators do not add value to the snake trading forex strategy. However, note that the T3 clean and the snake indicators are not moving averages per se.įinally, on the price chart, we have the XPS clock and the XPS price indicators. A combination of both these indicators can signal buy and sell in the market, similar to a moving average. The snake indicator plots the cyan line which also looks like a moving average. The T3 clean indicator works alongside the snake indicator. This indicator plots the purple line which looks like a moving average line. The uni_cross indicator is responsible for plotting the buy and sell arrows on the price chart. This indicator is part of the indicators that belong to the snake trading system. Let's now take a look at these indicators in a bit more detail.įirstly, the snake trading forex strategy uses the uni_cross indicator. There are a number of technical indicators which are used in the snake trading forex strategy. This trading system makes use of a number of custom indicators and is best suited for short term scalping in the markets. The Snake Trading System For MT4 is a short term intraday trading system. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy. Therefore, we are mainly explaining the components and rules of the strategy. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Please note: This strategy was publicly published in the trading community and is free to use. Is the snake trading forex strategy good for you?.The snake trading forex strategy – Short positions.The snake trading forex strategy – Long positions.
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