Andrew Forex Trading System

Andrew forex trading system

Currency pair: any, but better cross-pairs that give good trends.
Time frame: any, but usually 4-hour
Indicators: supertrend, nonlagdot (value: 20)
Entry rules.

Buy: a dot of Nonlagdot changes from red to blue.

Andrew forex trading system

At the same time dots of nonlagdot should be above the Supertrend line. Also theSupertrend line should be green.

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A position should be opened by execution of a pending order. The order is placed on the upper point of the market extremum, which is formed after the first rebounce of the market downward (when closing price is lower than previous one).

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That is one should wait untill the price has exceeded the point of extremum, and only then buy. However, if the price fails to exceed the level of the point of extremum, one should wait.

Andrew forex trading system

After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to red, the order shoud be canceled.

Sell: a dot of Nonlagdot changes from blue to red.

Andrew forex trading system

At the same time dots of nonlagdot should be under the Supertrend line. Also the Supertrend line should be red. A position should be opened by execution of a pending order.

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The order is placed on the lower point of the market extremum, which is formed after the first rebounce of the market upward (when closing price is higher than previous one). That is one should wait untill the price has exceeded the point of extremum, and only then sell.

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However, if the price fails to exceed the level of the point of extremum, one should wait. After the formation of a new point of the market extremum, the order should be shifted to that point. If the color of nonlagdot or supertrend changes to blue, the order shoud be canceled.

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Trading System
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Filed Under: Forex Scalping StrategiesTagged With: closing price, extremum, Supertrend

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