Free system from Scientific Trading Machine website. The system itself is quick to learn and extremely easy to implement. Even if you are completely new to trading.

As you can see on the image below, the TSI is fairly easy to read. If Bullish blue is over 50, it means the uptrend is stronger than downtrend. The higher the number, the stronger the trend.

If Bearish red is over 50, it means the downtrend in stronger than uptrend. The TSI indicator will ultimately determine the direction in which we trade.

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The second indicator we will be using is the ML Indicator. This indicator is on the chart and will display a blue line below the candles for the uptrend and red line above the candles for the downtrend.

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This indicator is a trend based indicator, which has the ability to determine and predict the trend movements with very high accuracy. The third indicator we will be using in the FX Profit Wave system is called the Histodot Indicator. TSI must have Bullish signal above ML Indicator must be blue and below the candles.

Histodot must be blue and above the Zero Level. Histodot must have a green dot drawn. After all the conditions have been met, enter the trade at the close of the signal candle.

Set your Stop Loss a few pips below the most recent Swing Low. Set your Take Profit twice the distance away from the entry level as your Stop Loss or greater. I recommend a minimum of 1: On the following page you can see an example of a Buy trade as per the rules of the system. TSI must have Bearish signal above ML must be red and above the candles.

Histodot must be orange and below the Zero Level. Histodot must have a white dot drawn. On the following page you can see an example of a Sell trade as per the rules of the system.

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What time frame and currency pair is best for this strategy. Does it work with Metatrader 5?

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