The Forex Profit Supreme System is a manual trading system suitable mostly for beginners. Designed for MetaTrader 4, it contains a chart template and technical analysis indicators.
The system is quite easy to operate and tells a trader exactly when to enter and exit a trade. Traders can also use their own technical analysis and money management strategies with this system.
It works with multiple currency scanners which measure and monitor the strength of each currency. The currency scanner helps traders keep out of raging markets and only gives them notifications when there is a strong trending market.
Another benefit is that the Forex Profit Supreme Trading System can work with any time frame. Traders who work all through the day can use it for scalping trades or can even use it to swing trades on longer time frames.
The system uses these following 6 indicators:
Signal – A simple blue arrow indicates the BUY signal and a red arrow indicates SELL signal.
RSI Candles - A blue RSI candle indicates the price is bullish while a red one indicates the price is bearish.
Dline – The Dline indicator delivers a confirmation to trade through market momentum.
Filter – Filter indicator delivers authentication to the signals.
Bars – It provides a visual representation to follow market direction.
Clocks – It displays the candle time ending.
When to BUY?
Here are the conditions
RSI candles turn green
Forex pairs are trending upwards
Forex Profit Supreme Signal displays an upward pointing blue arrow
Filter indicator forms blue bars
Dline indicator turns green
When to SELL?
Here are the conditions
RSI candles turn red
Forex pairs are trending downwards
Forex Profit Supreme Signal displays a downward pointing red arrow
Filter indicator forms red bars
Dline indicator turns red
Now, Read These Exit Rules:
Traders should exit when the indicators turn against their trade direction.
Trailing stops and Stop-loss order can also come into place depending on the timeframe.
How to Install?
Place all the indicators into the following folder: C:/Program Files/XYZ/experts/indicators, where XYZ is the name of the MetaTrader 4.
Place all the templates into the following folder: C:/Program Files/XYZ/templates, where XYZ is the name of the MetaTrader 4.
Benefits of using Forex Profit Supreme System:
As it is a manual system, traders have full control over it and can make final choice on all trades.
The system comes with a full set of alerts and thus, doesn’t require any chart monitoring.
Advance stop-loss system lowers risk and protects your profits.
Works on several currency pairs.
Doesn’t require any market research and analysis.
Doesn’t require any trading experience.
Doesn’t have a minimum trading amount.
Overall, the Forex Profit Supreme System is a well-established trading system that caters to the needs of a beginner. If you are a beginner seeking to find that one system to start with, you can give this one a try.
To know more, you can join Forex forums where experts and other members provide a wide range of solutions for beginners and pro traders in all aspects.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.