Green Wave Fx System deploys an envelope-based trend following forex trading strategy to demonstrate the trade signals based on event areas and trend directions of the market. It also uses an extra trend oscillator in order to filter the trade signals generated by the indicators from the main chart window.
This System can be applied to trade all kinds of forex currency pairs around the market. Moreover, you’ll be able to use it to trade on any sort of timeframe chart available at your MT4 trading platform.
Green Wave Fx System Overview
After you’re done with the installation of the System at your forex MT4 terminal, your trading chart will appear like the image below:
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Green Wave Fx System Anatomy
- Upper & Lower Envelope: These Upper and Lower Envelope slopes represent the dynamic support/resistance levels of the market. These bands change their positions based on the change in recent price actions. You can use these levels to update your stop loss position as well.
- 89 EMA: It works as the major trend finder of this system. Price closes above its level represent the bullish trend and if closes below the EMA then considered as the bearish trend of the market.
- Trend3: Better known as the trend filter of the system. Trend3 turns positive means the confirmation of the bullish trend and turns negative to validate the bearish thrust of the market.
Green Wave Fx System: Buy Parameters
- Price is supported by the Lower Envelope bands
- Price closes above the 89 EMA
- Trend3 turns positive
- Buy triggers when the above conditions are met
- Set stop loss below the 89 EMA slope
- Exit long/take profit whenever price hits the top band of the Upper Envelope
Green Wave Fx System: Sell Parameters
- Price is resisted to go up by the Upper Envelope bands
- Price closes below the 89 EMA
- Trend3 turns negative
- Sell triggers when the above conditions are met
- Set stop loss above the 89 EMA slope
- Exit short/take profit whenever price hits the lowest band of the Lower Envelope