PowerSwing V.2 | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

I just wanted to make a quick post introducing an updated version of my PowerSwing trading system for everyone to try. This new version is improved with new indicators and eliminates clutter to help simplify entry and exit. I also reduced from daily trading to 4 hour trading because I had more free time for trading.

The indicator and template are included in the zip file provided for you, as well as a link to my Camtasia video below which shows indicator setup and instructions for entry and exit to save time reading a lot of posts and avoid confusion.

renew!

(The video has some issues with the sound, so I'm temporarily removing it until the sound issues are resolved)

***New videos will be added soon***

Here is a screenshot of the trading settings to show you what the template looks like. Feel free to change the colors and set up the screen the way you like.

Admission criteria

1) We look for the ZigZag arrow to indicate the beginning of the trend direction. We will only trade in that direction.

2) We look for crossover points (thicker lines) on the Forex trend indicator. If the indicator crosses back after the trade, wait until the candle closes to ensure the cross is valid due to the repaint.

3) The last thing we look for is the trendline indicator changing color to coincide with the direction of the zigzag arrow. Wait until the candle ends before making any decisions.

All three of us had met before we could publish our entries. Just to make sure, confirm that the indicator has crossed over or changed color to end with the candle first and then we determine our entry point. If all conditions are met, the order is placed at the open of the next candle. If you have doubts about the crossover, use common sense and wait for another candle to close and then re-evaluate the chart as we expect to see a little bit of separation.

Here’s a little tip for you:

When the zigzag arrow forms around oversold Murray levels (0/8, 8/8, +1/8, -1/8, +2/8, or -2/8), these are major trades that are usually very strong and fast moving.

quit

The blue line of a Forex downtrend is the key to exiting a trade. Look for both trendline indicator lines (red for shorts and blue for longs). Touch the blue line of the Forex Inverse Trend Indicator to end the trade. You don't have to wait until the candle closes to exit. Once the lines touch I close the trade, it's just my preference.

Next week I will set up a demo account and provide the account # and investor password, and do some actual live trading to show how the system works so everyone can watch the trading progress.