ADX and Alligator Indicator
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In this Forex video tutorial, we will be covering 2 different indicators… the ADX and Alligator Indicator .
So what we look for is for the ADX black line to break above the 30 level.
So when the ADX breaks past the 30 level and we also look for confirmation from the green line to also break the 30 level.
Next we want to look at the price bar to break past resistance and be on support and the price bar to be in green in color.
To recap for long position…
- We want the black line to be above the 30 level.
- Next we look for confirmation from the green line to also break the 30 level.
- And with the price bar green, we have further confirmation of a buy signal.
- Lastly, we just need to make sure that resistance is some distance away… or if not, we are just sitting on support.
If these 4 conditions are filled, we have a strong buy signal.
For a sell signal, it’s about the same.
- We want the black line to be the above the 30 level.
- As for confirmation, we look for the red line to also break the 30 level.
- As for the price bar, we want to see a red bard to have further confirmation of a sell signal.
- Lastly, we confirm our entry into position if the sell signal is below the resistance level.
We never want to be entering into short position when the price level is at the support line.
That goes against our principals of a safe trade.
It’s always better to miss a trade than to rush into a trade hoping for the best.
We like to trade with certainty and only enter when we are absolutely confident with our decisions.
You should as well.
See you in the next video…
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