Forex King Trading System

Forex King Trading System Overview
Forex King Trading System

Forex King Trading System is a powerfull trading strategy, Fx King System can be used on scalping or swing trading. The Fx King system is flexible can be used at any currency pair and at any time frame. Fx King System is basically designed for intermediate and experienced traders. It appears in the Renko version too. Anyone who is a big fan of Renko charts can use this forex trading system. Renko charts have various advantages over other types of graphics. Bar Renko ignores market time factors. It only concerns price. You can set a limit for the bar. For example, if you maintain a bar limit of 20 pips, the bar will form only when the exchange rate travels 20 bars in both directions. If prices never travel 20 pips in a long period of time, no bar will be formed.

Mt4 Indicators:

Candle Bar
If you prefer the renko bar you can use it but it's not mandatory. Usually you can see blue and red blades. The blue bar indicates a buy signal while the red bar indicates a sell signal. There are many other technical indicators on the main chart but it's still okay to focus only on the color of this bar.

Arrow
After the bar, the blue and red arrows are the main indicators of the signal generator of this system. Red bars indicate selling and blue bars indicate buying signals.

Filter RSI
The RSI filter consists of blue and red bars. Blue bars indicate buying and red bars indicate selling signals.

Trader Dynamic Index
This indicator consists of many oscillators but the yellow oscillator is the main one. When the red and green oscillator is above yellow, it is a bullish signal and when the red and green oscillator is below the yellow oscillator, it is a bearish signal.

MACD
It is custom MACD that consists of red and green bars. Green bars indicate bullish trend and red bars indicate bearish trend.

Buy entry:

Forex King Trading System Buy condition
Buy condition

  • The market must rise in trend.
  • The market must bounce from recent support levels.
  • The indicator line must be blue.
  • A blue arrow will appear below the market.
  • The RSI filter indicator must be blue.
  • All Trader indicator dynamic oscillator indicators must be above the yellow oscillator.
  • MACD must form a green bar.
  • Place your buy position as soon as the conditions above are met.
  • Set stop loss below the recent swing low.
  • Take your advantage when the red arrow appears above the market.


Sell entry:

Forex King Trading System Sell condition
Sell condition

  • The market must go down the trend.
  • The market must fall from the recent resistance level.
  • The indicator line must be red.
  • A red arrow will appear above the market.
  • The RSI filter indicator must be red.
  • All Dynamic Trader index oscillator indicators must be below the yellow oscillator.
  • MACD must form a red bar.
  • Place your short position as soon as the above conditions are met.
  • Set stop loss above the recent swing high.
  • Take your advantage when the blue arrow appears below the market.



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