rayz
Legendary Member
- Messages
- 13,336
- Joined
- Jun 5, 2007
- Messages
- 13,336
- Reaction score
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This is the Spectrum trading system and indicator that simply shows buy and sell zones. It is so called because it resembles a spectrum, with different colours. The blue line is the take profit zone, the red and pink lines above it are the sell zones, and the green lines below are the buy zones.
Typical rules are:
-Buy when the price enters below one of the green lines and then exists it. (wait for the price to move above the green line)
-Sell when the price enters above the red or pink line and then exits below it. (wait for the price to move below the red/pink line)
Take profit when price touches the middle blue line.
In the parameters of the included indicator, adjust the 'elevation'. Recommended settings for EURJPY,USDJPY and GBPJPY is 6, recommended settings for EURUSD,GBPUSD and EURGBP is 3.
You can add a stochastic oscillator for better performance.
Be careful on steep trends and only trade when the price is well above/below all the lines.
download
Typical rules are:
-Buy when the price enters below one of the green lines and then exists it. (wait for the price to move above the green line)
-Sell when the price enters above the red or pink line and then exits below it. (wait for the price to move below the red/pink line)
Take profit when price touches the middle blue line.
In the parameters of the included indicator, adjust the 'elevation'. Recommended settings for EURJPY,USDJPY and GBPJPY is 6, recommended settings for EURUSD,GBPUSD and EURGBP is 3.
You can add a stochastic oscillator for better performance.
Be careful on steep trends and only trade when the price is well above/below all the lines.
download
