Just a few duly customized indicators will help you determine profitable trading levels while following the main trend. Customization will take three minutes, then you can start trading!
How to customize the trading platform
It is easy to create a template for trading based on a simple strategy. Apply the following indicators to the quotes chart:
Bollinger Bands with default settings This indicator will show you when new waves of growth and decrease appear on the chart:
RSI (Relative Strength Index), which will show you the maximum level of growth or decrease in value. Set the period of 9 and levels of 60 and 40:
Moving Average This indicator shows the current price movement. Set the period of 2 and the Simple type:
How to trade
Trade UPWARDS when:
- The moving average crossed the central Bollinger line upwards (the candlestick should close above the BB midline), which indicates the beginning of the upper trend wave;
- The signal line on the RSI indicator crossed the overbought level of 60 upwards, which indicated the moment of the maximum growth.
Trade DOWNWARDS when:
- The moving average crossed the central Bollinger line downwards (the candlestick should close below the midline of BB), which indicates the beginning of the lower trend wave;
- The signal line on the RSI indicator crossed the oversold level of 40 downwards, which indicated the moment of the maximum fall.
Now you can track all the market turns and earn on them!
Expiration periods and money management
In this strategy, the time frame of 5 seconds (5s) is used, so the expiration period should be set to the minimum (1 minute).
You should not risk more than 2% of the amount available on the account. This rule will save your funds from a drawdown and allow you to earn well with every move on the market.