The strategy with the highest probability of success in forex (According to Artificial Intelligence)
To configure the indicators for the "Bali" trading strategy in Forex, follow these steps:
Indicator Configuration
1. Linear Weighted Moving Average (LWMA)
Period: 48
Color: Typically set to red.
Function: This indicator serves as a filter for trade signals. It emphasizes recent price movements, which helps reduce lag in longer timeframes.
2. Trend Envelopes
Number of Lines: 2 (upper and lower)
Function: These lines help identify potential trend reversals. The upper line is used for sell signals while the lower line is used for buy signals.
3. DSS of Momentum
Parameters: (18, 6, 3, 8)
Function: This momentum oscillator assists in confirming the strength of the trend. It provides early buy and sell signals, which are crucial for scalping strategies.
Conditions for Trade Entry
Long Position:
The price must break above the upper line of the Trend Envelopes.
The closing price of the candle should be above the LWMA.
The DSS of Momentum should be above its signal line and moving upwards.
Short Position:
The price must break below the lower line of the Trend Envelopes.
The closing price of the candle should be below the LWMA.
The DSS of Momentum should be below its signal line and moving downwards.
Execution
Set a stop loss (SL) of approximately 25 pips and a take profit (TP) target between 50 to 70 pips.
It is advisable to exit trades by mid-week or when either SL or TP levels are hit.
This configuration and approach allow traders to capitalize on short-term price movements effectively while managing risk appropriately.
* Comment: If this strategy could be summarized in an arrow indicator or a robot it would not be bad at all...
