Forex Ribbon System- Trading Blueprint was designed to assist the Retail Trader in finding both the Entry and Exit points of a typical trading platform Chart using a color methodology.
Free Download link: At the end of the post
Introduction
The Forex ribbon system is primarily an additional colored ribbon Indicator that gives a delayed entry and/or exit criteria with a purpose of control and discipline to the Trader.
Terminology and Definitions
Why: The Forex Ribbon System was designed to assist the Retail Trader in finding both the Entry and Exit points of a typical trading platform Chart using a color methodology.
Purpose: To enable the Retail Trader to become more efficient and make less human errors while trading the financial Markets.
Trading Platform: MetaTrader (MT) 4 which is available through trading Brokers.
Trading Tools: Tools within MT4 are called Indicators and their purpose is to highlight on the trading chart some form of illustration evidence, i.e., Arrows, Lines, Information, etc.
Trading Broker: The Trading Broker is the second party Company that allows the retail Trader the capability to trade using the Brokers Line of Financial Credit, Leverage and MT4 Platform. The Broker provides the inline data speed and feed to the Retail Traders computer system to enable a daily usage and trading system.
Financial Market: The financial Market is a term used to defined the auction house process related to humans buying and/or selling various financial Instruments, from Stocks, Options or Foreign Exchange (Forex) assets.
Trading Business
The average retail trader has been allowed to trade the financial Market for over 15 years now and leverage by his / her appointed Broker. To most Traders, this is a part-time hobby and not really a true Business until they master the process and engage more time / commitment as a Trader.
Trading Chart
In accordance with MT4 Platform criterion, a typical Chart has various Time Frames (TF) that allows the Trader to view the incoming data at a different calendar time to perform various analysis of the financial Instrument dataset.
Most Charts provide the following information;
– TF
– Date
– Instrument Name
– Instrument Value in Price
– Various Drawing Tools
– Toolbars
– Strategy Tester
as a few examples of support functions to the Trader.
The Trading Chart is where the Trader trades, makes his / her decisions, monitors and manages their trading activities.
Continued;
Forex Ribbon System
The Forex ribbon system is primarily an additional colored ribbon Indicator that gives a delayed entry and/or exit criteria with a purpose of control and discipline to the Trader.
Before we start discussing the ribbon functionality, lets breakdown the System elements;
– Heiken Ashi (HA) Candles (averaging candles)
– High and Low Arrows
– Trend Line with 8 Ball
– ZZ Pip Value and Measurements
– Colored Ribbon (Red or Green)
– 3 Information Indicators to enable instant trading and to monitor the trade performance See below screenprint for an actual Chart illustration of the above System.
