The candlestick must close above the red line of LWMA. When the previous condition is met, expect the candlestick above the MA to appear. At the same candlestick, the down orange line changed into the rising blue line. The price breaks through the orange line of Trend Envelopes upside. Past the indicators into the folder and restart the platform. Next, follow the directory MQL4/Indicators. To add them to the trading terminal, in MT4, click on the “File – Open data folder”.
MA is a standard MT4 tool, the rest two indicators can be obtained for free in the archive via this link. This gives a trader more time to confirm the market moves and check the fundamental factors. Important! Note that the indicators in the Bali trading strategy are selected so that they provide an early signal buy and sell. But the receiving line has two types of colours (orange and green). It has two lines: the signal line is dotted, the additional line is solid. It does it quicker than standard oscillators. This is an oscillator that identities trend pivot points. The indicator is displayed in a separate window under the chart. The settings are in the screenshot below. It is a kind of trading signal.ĭSS of momentum. The line’s colour and its location changes when the price breaks through its former trendline. Trend Envelopes has an interesting property. It allows you to identify the breaks in the trend a little earlier than the ordinary MA. Its layout is more accurate (the price noise is reduced). The indicator is also based on Moving Average, but it has a different calculation formula. If the line is above the price, it is a sell signal. If the LWMA is below, it is a buy signal. But this strategy considers only the MA position relative to the price movements. Occasionally, the LWMA may send an early signal in the long run. As the LWMA attaches more importance to the most recent price moves, there are almost no delays in the long-term timeframes. Linear Weighted Moving Average serves here as an additional filter. The developers recommend using the H1 timeframe and the EUR/USD currency pair. However, the recommended timeframe is rather long, and so, signals are sent quite rarely. It suggests quite short stop losses (SL) and take profits (TP). However, Internet resources suggest different recommendations concerning the Bali trading strategy.Īccording to the developer, Bali is a scalping forex strategy, or at least, it is designed for short term time frames. This strategy is quite popular, at least, you can find its description on many trading websites. If you have any questions, feel free to ask them in the comments!
It explains how to launch these templates in real trading and start making money with LiteFinance! If you are interested in a strategy, open a demo account with LiteFinance, and follow the recommendations given in this overview.
A trader faces high risks without using any system or plan. Profitable Forex strategy is an instruction. First of all, when you select your forex strategy you gain greater clarity of the trading process, which helps minimize trading risks.
Why is it necessary to use a Forex strategy?Įvery trading manual or instruction insists that a trading strategy is necessary for successful trading.