- August 29, 2022
- Posted by: Maret Edodo
- Category: Free Forex Indicators
Golden Line Forex Indicator Review
A major component of the Golden Line Forex Indicator Indication’s operation is the MadroGolden filter indicator.
This indicator’s trading filter is created utilizing common indicators including the RSI, DeMarker, Momentum, MACD, Force Index, and Moving Averages. When two or more signals of the same color emerge, place a trade (Blue – for buying, Red – for selling). Avoid trading when competing signals emerge.
Forex Indicator System Trading rules
The 15M and 30M charts perform exceptionally well with the Golden Line Forex Indicator. Any timeframe, though, is appropriate for using this technique. Always check the 1H and 4H charts to determine the longer-term trend while trading, for instance, the 30M chart. This is a general rule of thumb. To lessen drawdown and boost consistency, do not act on the signal on the 30M chart in opposition to the longer-term trend.
We also advise experimenting with new approaches and changing (adding or deleting) indicators to suit your needs.
The bottom-left Madro Golden Filter Indicator has a blue arrow pointing up (it only shows after the close of the candle)
Three or more of the Madro Golden Filter’s indicators must be blue (best if four for confirmation of entry). There is no entry if any one of these four (arrow, small cross, small square, and “x” square) is red.
The candle itself must be GREY.
There must be green FXSniper LSMA.
PriceChannelStop v1 must be below the candlestick and blue in color.
For greater discretion, use the Fibonacci retracement and pivot lines. If you are unfamiliar with pivot points, I advise you to read the complimentary supplementary pivot points summary information included in this package so that you may make an informed decision in the event that buy signals are generated in conjunction with price being close to pivot points.
The Madro Golden Filter indicator has a red arrow pointing downward.
The Madro Golden Filter indication must have at least three red indicators. NO ENTRY if any are blue.
The FXSniper LSMA should be red, and the actual candle must be red.
PriceChannelStop v1 must be displayed above the candlestick and in magenta.
Use the pivot lines and Fibonacci sequences given above.
Stoploss and TakeProfit
You can utilize the SL in a variety of ways, depending on your preferences. With this method, there are no set rules to follow.
Setting the stop loss (SL) below the low of the previous three to four candles is one strategy to use, but not by more than 25 to 30 pips for slow pairs like (EUR/USD) and by 35 to 40 pips for volatile pairs like (GBP/USD, EUR/JPY, etc.)
The most secure take profit is the next pivot line less the spread (for instance, entry long near pivot Equals target at R1 line – spread).
Best Brokers List
The Golden Line Forex Indicator For Swing Trading works with any broker and any type of account, but we recommend our clients to use one of the top forex brokers listed below:
|BROKER NAME||REGISTER||Year Founded||Headquartered||Leverage||Minimum Deposit||Regulating|
|1:1000||$5||ASIC, CySEC , IFSC|
🇧🇸 The Bahamas
|1:1000||$200||ASIC, SCB, FSA|
|1:Unlimited||$10||CySEC, FCA, FSCA, FSA, BVI|
|1:500||$200||FCA , ASIC, DFSA|
|1:500||$25||regulated by CySEC|
|1:400||$100||CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA|
Golden Line Forex Indicator Setting
Golden Line Forex Indicator Free Download
We highly recommend trying the Golden Line Forex Indicator for at least a week with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.