Morning Flat is a forex trading system that is best suitable for swing traders. The morning Flat forex trading system can be used on 15 minutes, 5 minutes, and H1 time frames. Morning Flat is a straightforward forex trading system yet mighty one. One might not need any other forex indicators when using this forex trading system because it is complete in itself. Using this forex trading system, one can grab pips as much as 50 pips-100 pips. The best part of this forex trading system is it has very few parameters to trade on.
When you install the Morning Flat indicator in your forex trading platform, your chart should look like this:
Morning Flat indicator Support and Resistance
The golden color and grey color horizontal chart lines that you see on the main mt4 chart are the support and resistance. The grey support line works as a buy signal, and the golden resistance lines work as a sell signal.
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Morning Flat Moving Average
Moving Flat moving Average is a custom-made moving average consisting of the green and red moving average—the color of the moving average changes as per the market’s direction. The green moving average indicates buy, and the red moving average means selling.
You should also watch for something these indicators don’t tell you regarding this simple forex trading system. That is, you should look for the major market trend. This system will generate trading signals in counter-trend directions, but you should ignore them to increase your odds of winning.
Buying Conditions Using Morning Flat
- The market should be up trending.
- The market should be bouncing from chart swing low.
- Grey horizontal chart support should appear below the market.
- Moving average should be green.
- Place your long buy position as soon as the above conditions are met.
- Place your stop loss(SL) just below the recent swing low.
- Take your profit when the moving average(MA) turns red.
Selling Conditions Using Morning Flat
- The market should be down trending.
- The market should be retracing from chart swing high.
- Golden horizontal chart support should appear above the market.
- Moving average should be red.
- Place your short position(sell) as soon as the above conditions are met.
- Place your stop loss(SL) just above the recent swing high.
- Take your profit(TP) when the moving average turns green.
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