FX Prime’s strategy was formed about ten years ago, in order to derive income from price fluctuations in small time frames.
Note that you can take advantage of the older intervals, but in this case, the settings need a significant adjustment. We will focus on the parameters relevant for the M1 timeframe.
Since FX Prime refers to indicator systems with a large number of elements, it is not necessary to expect an ideal combination of signals. Within the time, you will learn to see the code combination of commands can give a positive effect, and when it is better to miss entering the market. In any Forex strategy, the practice of its application is important, and we will tell you what indicators mean and how to properly configure them.
Elements of FX Prime
6 indicators take part in the work. First assistant of EMA720. A large number of analyzed candlesticks is due to the need to identify a global trend line for the needs of the system under consideration. When the price is below the indicator line, we determine the downtrend, and open the order exclusively for sale. The curve should also be directed downward. And vice versa, if the direction is up and the price is higher than the EMA indicator, only purchases are considered.
In the settings, set the period to 14, and change the levels to 45 and 55. The RSI indicator acts as an additional filter. The ideal situation for us will be a breakdown of the level 55 line from the bottom up when we consider buying, and level 45 from the bottom up when looking for a sale. Finding a line inside the corridor between 45 and 55 speaks about the uncertainty in the market, it’s better to skip such a command.
The third indicator is Spud Fibo, the settings are left by default. The difference from the classical Fibonacci lines is that it shows the price range of the price for the previous period. The indicator will help us to identify where the price should go, or just to install Stop Loss.
Similar goals with the previous program are pursued by Avto Pivot. Its settings also do not change.
The fx prime strategy considers a key indicator – Doublecci Woody. The settings should be set to the following:
• TrendCCI Period – 170.
• EntryCCI Period – 34.
• Trend Period – 2.
• Leave other parameters unchanged.
In Doublecci Woody, 2 CCI indicators are integrated. For them, we have established different periods. TrendCCI170 often crosses the center line, confirming EMA720 signals, and EntryCCI34 acts as an independent command for opening the order. Their combination should improve the quality of inputs.
Indicator Heiken Ashi Smoothed strategy FX Prime uses as an additional filter confirming changes in the trend. The parameters remain the default.
How to trade in the FX Prime system?
We have already described a combination of what indicator signals can be a signal to open a position. Let’s recap on the example of a transaction for sale.
1. EMA720 is directed down, the price is under the curve line.
2. Both Doublecci Woody lines cross the zero line from the top to the bottom.
3. RSI broke through the 45 line from top to bottom and continues to descend.
4. Heiken Ashi Smoothed changed the color from blue to red.
5. Fibonacci and Pivot Points levels are used to determine price targets.
As already noted, not always the signals will ideally meet the requirements of the system, but experience and practice will help to determine the best and quality signals among market noise. FX Prime’s strategy is a qualitative technique that can help in the extraction of profit and is uniquely suitable for study.