The Viper Forex Trading System comes with a regression channel and double stochastics for illustrating momentum-based trade signals.
Its i-Regression channel shows the possible overbought/oversold areas of the price. According to its strategy, when the price rejects channel support, we’ll match the rejection with Stochastics signal before confirming an order.
For further authentication of the trading decisions, this strategy includes the StoPSar Alert. This indicator applies PSar value within the stochastics formula for determining the intense price swing zones. It only displays arrow signals for indicating the swinging areas and the possible upcoming directions of the price movements.
This system merges Stochastics-Fast with Stochastics-Slow in the same indicator window so that you can compare the value of the indicators. Both of these momentum tools intersect each other for generating key trend signals.
Buy Signal Generation with Viper Forex Trading System
Always look for buy opportunities when the price gets closer to the lower i-Regression channel. An i-Regression arrow appears below the lower band means the price is rejecting the individual level as support. It is an immediate hint for going long.
Next, the Stochastics-fast %K & %D lines need to move above the stochastics-slow lines for the final confirmation of a buy order. Also, the price rejecting the higher bands signals for a buy-exit.
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Sell Signal Generation with Viper Forex Trading System
For sell setups, the price needs to find resistance at the higher channel level. Also, a StoPSar arrow showing up above the channel-high indicates the price will initiate a bearish move following the rejection at the resistance.
We can trigger a sell order during such conditions if the Stochastics-fast turns lesser than the Stochastics-slow, confirming the market is in a solid bearish momentum.
The Viper Forex Trading System represents a “plain and easy” trading strategy that is more suitable for beginner-level traders. It doesn’t require any prior trading experience to master this automated trend filtering system.
If you read and understand the system’s trading rules explained in this guide, you’re already up for trying it on live markets.