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You may not have seen the forex MT4 buy sell signals system working w 5m chart before, even know anything about it. That does not mean that you cannot use the same ideas to build your own forex trading signals system. The idea behind any forex trade system is to use the right analysis strategy, whether fundamental or technical analysis to achieve consistent profits in forex trading. It can be done, though it’s time requires and consuming great effort.
There are 2 important things you must know when creating your own accurate forex signals system on mt4 or use the best automated forex system that I recommended below. The steps may seem easy enough to creating your own forex trade signals system but remember, anything worth to doing, is worth to doing right. You may be able to finish this 2 important steps quickly but only with great effort will meaningful best results be achieved. Lets get started.
1. Determine Forex Trend Correctly And Easily
In order to determine price movement inclination correctly and easily. You can use forex indicator on mt4 to get approach towards Forex market itself. for example, we shall try to use great indicator likes RSI (Relative Strength Index) to determine forex trend. if line of RSI bigger than number 50, this mean up trend. if RSI lines lower than number 50, this mean down trend. This strategy is very effective for all TF (time frame).
If RSI lines bigger than number 50 = Up Trend (Buy Signals)
If RSI lines lower than number 50 = Down Trend (Sell Signals)
2. The Right Trade Position = Profit
When does right time to take position? The right time to take position moment price has stays in “overbought” or “oversold”. Then, how to do that? Very simple, please follow my simple strategy below.
If RSI lines in Weekly Chart bigger than number 50 + (RSI lines in 4 hour chart cross up number 20) = Buy Signals
If RSI lines in Weekly Chart lower than number 50 + (RSI lines in 4 hour cross down number 80) = Sell Signals
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Source by Erdy Yudanto