Summary

The "Forex Pro Trader System" combines trend-following and wave-trading methods, designed to be simple yet effective. It uses the MetaTrader 4 platform and several indicators to identify and trade trends and waves. This system can be applied to all time frames and currency pairs, although major pairs and shorter time frames (15M, 30M, 1H) are recommended.

System Rules

Identifying Trends

• Indicators:
  • Trend Channel (Auto Trend Indicator)
  • Fast WPR Indicator
  • Slow WPR Indicator
• Up Trend:
  • Auto trend channel shows a clear downward angle.
  • WPR slow/fast generate red bars.
• Down Trend:
  • Auto trend channel shows a clear upward angle.
  • WPR slow/fast generate yellow bars.

Trading Price Waves

• Indicators:
  • Shi Channel Signals (Red/Blue Dots)
  • Color MA Indicator (Red/Blue Line)
• Down Trending Wave:
  • Red dot and red line.
• Up Trending Wave:
  • Yellow dot and yellow line.

Trade Execution

• Trend Identification:
  • Confirm trend direction using indicators.
• Wave Confirmation:
  • Ensure the current wave moves in the same direction as the trend.
• Trade Signal:
  • Open a trade when all conditions/rules are met.

Examples

• Sell Signal:
  • Down Trending Channel
  • Red WPR Bars
  • Red dot and Red line
• Buy Signal:
  • Up Trending Channel
  • Yellow WPR Bars
  • Yellow dot and Yellow line

Targets and Stops

• Entry:
  • Enter the market when all conditions are valid.
• Exit:
  • Close the trade on opposite signal or using pivot targets indicator.
• Stop Loss:
  • Set below/above Shi Channels Entry Dot or last support/resistance level.