Indicator does repaint but if we combine it with another strategy, it still can give us good opportunity on Forex trading. For example on this post I will show you how to trade using a simple breakout strategy using Super Signal indicator Fix distance version 3. This buy sell indicator does repaint badly. But, I combine to use this indicator with my favorite Support and Resistant indicator.
So we need these indicators on chart
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Super Signal indicator v3f fix distance
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Support and resistant
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Bollinger Bands (optional)
Sorry, I do not attach the indicators here but if you like, I will send you via email or simply Googling for those.
Here is the example of this strategy. Buy NZDUSD on 27 March 2014. Please note that usually, I wait the price to touch or close to upper or lower Bollinger Bands and the big BUY or SELL arrow appear first. Before it comes up, I do not trade.
See the chart above. On the circled area, we have an UP arrow appear near the lower Bollinger Bands. Its a good signal but I do not enter BUY at this point. Why? Because sometimes this indicator repaint every time new low was formed. So, I wait the price to move up and break the last resistant. See this picture
I open my trade only when the price break the latest or fresh resistant (red dots). And I always put my TP on the Fibonacci level 161.8. See how I draw my Fibonacci retracement on that picture.
Very nice breakout strategy and really enjoy reading your Forex blogs. Can you please email me those indicators? Thanks a lot!
-Eric from Texas, USA
ple.send link
https://copy.com/vgnFlqzvJioM for the indi