Yes, absolutely I'm going to share with you some aspects and rules that my system strictly follows before placing any trade as my system is hybrid and a mix of 2 strategies one of my strategies takes any trade according to the following rules :
first of all ADX INDICATOR ALONG WITH STOCHASTIC OCCILATOR both indicators are used on the chart and the trade is taken according to the following rules
I go long when the following rules are met :
1- looking at the price of the pair on the H4 chart and make sure that the price is above the 13 days simple moving average, then checking the ADX indicator, first it must be above the 25 level and the ADX INDICATOR and the price go at the same direction of PRICE MUST follow THE ADX, in this case, I will identify the market as it is in an uptrend After making sure of the main trend is up, I will go to chart M5 for entry and if my analysis identified the market is trending up I will go long when I see the stochastic in the m5 chart goes oversold and turns around up again.
I go short when the following rules are met :
First, I go to the h4 chart and check the price of it's below the 13 days simple moving average and the adx above 25 level i will identify the market as it's in a downtrend and then I go to the m5 chart and shorting after the stochastic hit the overbought level in the stochastic oscillator.
Mentioned above are the backbone of my system and I'm glad to share it with you.
I will illustrate this further for you in the next posts so you get familiar with e way my system trades.