ForexPen – Download Free Forex EA, Indicators and More for Your Trading Needs

Forex Ripper trading System Download

A MT4 indicator system called the Forex Ripper Trading System provides non-repaint buy/sell signals. There are six main indications that make up this system. It is a practical trading strategy designed for entering swings of short-term reversals.

The technique provides crystal-clear signals for entering the market as well as for closing out a position and achieving the desired result. The Forex Ripper Trading System is very easy to understand and appropriate for traders of any trading background.

This Strategy only uses manual labor. The indicators generate the signals, but the trader ultimately decides whether to enter the market and whether to establish protection stops or profitable exit stops. As a result, the trader must be conversant with the concepts of risk and reward and set entries and exits using initial support and resistance levels.

The Forex Ripper Indicator can provide you with trade signals that you can use as-is or further filter using further chart research, which is advised. Although this strategy can be used by traders of all experience levels, it may be helpful to practice trading on an MT4 demo account first until you are reliable and self-assured enough to trade in real time.

Indicators Used in Ripper Trading System

The Ripper Trading System uses four custom-made indicators:

Channel indicator

A channel formed by two trend lines (support – resistance) serves as this indication. To determine when the price has reached oversold and overbought levels, we use this indicator.

  • Blue line = Overbought = Best time to close any Buy orders = Not good time to open any new Buy orders.
  • Red line = Oversold = Best time to close any Sell orders = Not good time to open any new Sell orders.

Heiken Ashi ( Blue bars – Red Bars )

This straightforward indication lets us know if the current wave is ascending or descending. It won’t be used in the system itself; it will only be used for visual guidance.

Arrows
For buy indications, this indicator produces blue arrows, and for sell signals, it publishes red arrows. It is incredibly potent and fractal-based. But it’s not perfect, just like any other indicator. Because of this, we are employing additional indications to verify the signals.

Big dots ( trend reversals )

This indicator marks significant support and resistance levels with a large blue or red dot above or below them. Given that it is based on zigzag calculations, occasionally changing signals should be expected. Don’t just disregard it because it needs painting. Even on time frames of 1 H and higher, it’s still highly potent.

Small dots (S/R)

This indicator displays the main levels of support and resistance. Every new candle that burns in the appropriate direction will add a new dot to the picture. An additional dot of the opposite color will emerge when this support or resistance is breached (the price crosses this level).

Red dots signify resistance.

Support shown with blue dots.

Target lines

With this indication, the chart is covered in horizontal lines. A decent target or exit level is each line. From the settings of the indicator, you may adjust where each line is located (how far it is from the main red line of confusion).

Any Forex currency pair as well as other assets including equities, commodities, cryptocurrencies, precious metals, oil, gas, and so on can be traded using the Trading System for MT4. Additionally, you can utilize it in any time range that works best for you, from 1-minute to 4-hour charts. the M30 and H1 TimeFrames are the best.

No Minimum Deposit

ECN Acount

No Commission

Min Deposit of 20$
Allow USA Traders
Levergae up to 1:500

Trading rules for Forex Ripper

Stick to your money management plan and avoid trading during a period of breaking news. Half an hour after the big currency news, stop your trades.

As usual, use wise money management to get the best outcomes. You need to master discipline, emotions, and psychology to be a successful trader. Knowing when to trade and when not to is essential. Avoid trading at times and under unfavorable market conditions, such as low volume or volatility, outside of the main sessions, with exotic currency pairs, wider spreads, etc.

The more powerful signal for this system will first come from 3 primary signs, which you must first grasp.

  • The arrows indicator ( fractals )
  • The small dots indicator ( S/R )
  • The big dots indicator ( trend reversals )

Here’s the golden rule: Trade only after receiving at least three signals from the 3 Forex Ripper Trading System. and sell when you receive even one signal from any of the aforementioned indicators.

Arrow + Big dot + Small dot
This signal won’t happen every day. Maybe 3 or 4 times per week. But it’s very
powerful.

Buy Entry

  • Appeared a big Blue dot
  • Appeared Blue arrow up
  • Appeared small Blue dots

Sell Entry

  • Appeared a big Red dot
  • Appeared Red arrow down
  • Appeared small Red dots

Trade Exist for Indicator System

This approach allows for the liquidation of any positions using a predetermined profit target. Alternately, the top/bottom of the channel should be the location of the profit target. In the event that the system conditions change, you can also manually close the transaction.

It is advised to employ a stop loss. Ten pip below the previous support and resistance, set the stop loss. It is not advised to use fixed stop loss values without any reference points.

Share:

Facebook
Twitter
Pinterest
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

On Key

Related Posts

FAN Trading Robot

An automated trading system called the FAN Trading Robot was created to profit from major news stories that cause notable volatility in the currency markets.

AA Forex Robot

The adaptable MT4 Robot Advanced Automated Forex Robot is available for free download. An adaptable algorithm that continuously fine-tunes and optimizes itself forms the basis

SG Forex EA

Specifically built for trading gold (XAUUSD), this SG EA is a fully automated Gold Forex EA. This article delves into the nuances of this EA,

TOP BOTTOM INDICATOR

Top Bottom Indicators provide a major advancement in manual trading tactics by identifying the tops and bottoms of market patterns. This indicator is special since