5# Bullseye Trading System
Bullseye trend direction forex system
Time frame 15 min or higher
Currency pairs:majors.
Metatrader Indicators:
MoneyLine
BullsEye.
Rules For trading1) Trend Direction: When price is above this line, the trend is up. When price is below this line, the trend is down.
Therefore it is advisable to take trades with the trend using this MoneyLine as the trend direction reference. You can expect a trend change when price has had three consecutive closes on the other side of the Money Line. For example, if price has been trending up and above the MoneyLine, then as price heads to the MoneyLine and has three back-to-back candles/bars close underneath the MoneyLine, then statistically there is a high probability of a trend change.
2) Support/Resistance: This benefit alone is why you should have the MoneyLine on every chart you trade. The MoneyLine acts as very good predictor of Support/Resistance. It is so accurate that you can actually scalp off the line.
In the picture Bullseye forex system with the rules.
Share your opinion, can help everyone to understand the forex strategy.
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Igor (Saturday, 11 May 2019 14:07)
Hi. Can somebody help me to apply trading system in MT4?
trizzle (Wednesday, 12 August 2015 18:28)
money line indicator is not attaching to chart, Any solution to that?
Ryan (Sunday, 25 May 2014 17:18)
There is no tpl. in the file
ReN (Tuesday, 22 April 2014 14:52)
MoneyLine = SMMA (88)
alex (Friday, 31 January 2014 20:44)
Moneyline indicator doesn't work but other indis work , somebody can help on that ??