Forex market, like any other market, works in a very simple way. It accumulates in a certain area for awhile, and once the accumulation is over, it advances to a certain distance until distribution starts. Some technical analysts say that Relative Strength Index and Stochastic Oscillator are the trading tools which a trader simply can’t live without.
Traders usually suffer when the market is flat. Their indicators may give false signals due to lack of volume-volatility. Mandrake system works on EUR/USD, GBP/USD, USD/CHF and AUD/USD. You can use any short-term time frame depending on your trading style but I prefer M15 charts.
Please have a look at the chart below:
Important things to remember before you use this system to trade:
• Be careful if there is a strong support(or resistance) nearby.
• Do not trade right before an important data release.
-EMA Angle must be green
-All Mandrake indicators have to be dark blue.
-EMA Angle must be yellow
-All Mandrake indicators have to be red.
Here is another example:
- Mandrake iTrend1.ex4
- Mandrake RSI.ex4
- Mandrake Stochastic.ex4
- mandrake system.tpl