ilmscore | Forex: Top 2 Best Indicators / How to use them correctly

Forex: Top 2 Best Indicators / How to use them correctly

Published: 2018-06-07
Status: Available | Analyzed

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
An RSI-based strategy is being developed for the new EAP training program and will be released to members soon.
"we're actually in the process of creating an RSI based strategy for the new VAP training program which for you members will be released here very shortly"
RSI indicator strategy
Pending
The ATR indicator will be used to determine the average movement of the last few candles, providing a non-subjective measure of market volatility.
"the ATR or Average True Range indicator... this ATR indicator is gonna give me an average of the last few candles"
ATR indicator usage
Pending
The speaker uses the default setting of 14 for the ATR indicator.
"it comes with a setting of 14 I believe and that's what I keep it at I keep it at the stock setting for the ATR indicator"
ATR indicator settings
Pending
The speaker uses a 10-period RSI with overbought set at 70 and oversold set at 30.
"what I like to use for this indicator if I double click it you'll see my settings is a 10 period RSI and I keep the overbought and oversold lines exactly where they are overbought as 70 oversold is 30"
RSI indicator settings
Pending
A specific trading plan is outlined: no trade is placed unless the RSI is overbought at a previous daily structure level, with RSI divergence on a double top, and entry is on the next bar after the double top.
"we're gonna use the ATR indicator and the RSI indicator and this is the strategy we just talked about what we could say is I do not place a trade unless the Farah saw goes over bought while we are at a previous daily level of structure I do not place a trade unless we have RSI divergence on a double top I enter next bar market on the double top let's consider that as a trading plan"
Forex trading strategy
Pending
A stop-loss is set by taking the ATR value (e.g., 22 pips) and adding it to a previous swing low (or in this case, high), resulting in a calculated stop-loss distance (e.g., 32 pips including an initial 10 pips).
"the way we use ATR would be looking at the ATR of that candle... that being 22 means that we can come here to our stop-loss bring it down to that previous swing low... and we can add 22 pips to that so we have 10 pips that would be a 32 pip stop loss"
Stop-loss and target placement using ATR
Pending
Limited spots are available for the EAP training program.
"we only have a few spots left in that program"
EAP training program availability
Pending