The Forex Smart Pips Trading System is a robust double crossover strategy that employs four moving averages to pinpoint market trends. Designed to offer a comprehensive trading formula, it integrates additional elements like daily pivot points and momentum oscillators.
System Features:
How to Apply the Forex Smart Pips Trading System in Forex Trading:
Trading Rules Explanation
Buy Entry:
Exit the trade when the 8LWMA and 5LWMA perform the opposite crossover, or use your preferred method of trade exit.
Best Practices for Optimal Results:
To achieve optimal results, always practice proper money management. Successful trading requires mastery of discipline, emotions, and psychology. It's crucial to recognize when to trade and when to avoid trading. Refrain from trading during unfavorable conditions such as low volume/volatility, outside major sessions, exotic currency pairs, or periods with wider spreads.
Setting Up the Forex Smart Pips Trading System in MT4:
Installation Guide:
The Forex Smart Pips Trading System is a valuable addition to any trader's toolkit. It offers reliable signals for trend-following and scalping strategies. However, it is important to maintain realistic expectations. No technical analysis tool can guarantee 100% accuracy, and occasional false signals are inevitable. Its performance can vary depending on market conditions. By combining this system with sound money management practices, you can enhance your trading strategy and improve your overall results.
System Features:
- Moving Averages: Four moving averages to identify trends.
- Daily Pivot Points: Key market levels for support and resistance.
- Momentum Oscillators: Additional confirmation for trend strength.
- Dashboard: Located in the top right corner, providing information on MACD, STR, and EMA trends across various time frames (M1-H4), as well as current spread, pips to open, high to low, and daily average.
How to Apply the Forex Smart Pips Trading System in Forex Trading:
Trading Rules Explanation
Buy Entry:
- 5LWMA crosses above 8LWMA.
- 18EMA is greater than 28EMA.
- Price is supported by the Daily Pivot level.
- FX Smart Pips bars turn green.
- Set stop loss below the current pivot level.
- 5LWMA crosses below 8LWMA.
- 28EMA is greater than 18EMA.
- Price is resisted by the Daily Pivot level.
- FX Smart Pips bars turn red.
- Set stop loss above the current pivot level.
Exit the trade when the 8LWMA and 5LWMA perform the opposite crossover, or use your preferred method of trade exit.
Best Practices for Optimal Results:
To achieve optimal results, always practice proper money management. Successful trading requires mastery of discipline, emotions, and psychology. It's crucial to recognize when to trade and when to avoid trading. Refrain from trading during unfavorable conditions such as low volume/volatility, outside major sessions, exotic currency pairs, or periods with wider spreads.
Setting Up the Forex Smart Pips Trading System in MT4:
Installation Guide:
- Download and Extract: Download the Forex Smart Pips Trading System.zip archive and extract it.
- Copy Indicator Files: Navigate to your MetaTrader 4 (MT4) platform directory: File > Open Data Folder > MQL4 > Indicators. Paste the indicator files here.
- Copy Template File: Similarly, navigate to the Templates folder in the MQL4 directory and paste the template file.
- Apply Template: Open your desired trading chart, right-click, hover over “Templates,” and select "Forex Smart Pips System.tpl" from the list.
The Forex Smart Pips Trading System is a valuable addition to any trader's toolkit. It offers reliable signals for trend-following and scalping strategies. However, it is important to maintain realistic expectations. No technical analysis tool can guarantee 100% accuracy, and occasional false signals are inevitable. Its performance can vary depending on market conditions. By combining this system with sound money management practices, you can enhance your trading strategy and improve your overall results.