Profit
Master is an momentum indicator applied for reversal trading. summary
of momentum indicators. An application of this indicator is in the
Forex Illumination template where to filter Profit Master the
Bollinger Bands with a particular setting are used. In this case the
filter is effective and powerful. Forex Illumination is suitable for
both Forex trading (Day trading and Swing trading) and trading with
high / low binary options.
Suitable
for trading with masjor, minor and commodities.
Time
Frame 5 mi or higher.
Expiry
time Binary options high/low.
Metatrader
4 Indicators:
Three
Profit Master indicators with differents setting.
Heiken
Ashi
Pivot
points level
Trading
rules Profit Master
Price
touches, breaks or near at the upper/lower bands, (this
condition is optional but is recommended).
Buy
or Call
When
three buy arrows appear together with the Profit Master V.3
indicator, wait for the first white candle not with a thin body and
enter when the next one opens.
Sell
or Put
When
three sell arrows appear together with the Profit Master V.3
indicator, wait for the first white candle not with a thin body and
enter when the next one opens.
If
the first attempt fails, a second entry can be attempted, re-enter.
Note:
If the price breaks the bands you can also enter with two arrows.
Exit
position at the pivot points levels at the middle band with ratio
1:1 stop loss.
Initial
stop loss depends by time frame and currency pairs.
This
is an discretionary winning strategy!
In
the pictures Profit Master V.3 -Forex Illumination-
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