ADX and Envelopes Indicator
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In this video tutorial, we combine the ADX and Envelopes Indicator.
And this strategy, I must say is very simple and straightforward.
And I love this one because of it’s simplicity and ease of use.
So ready to learn something new?
To have a buy trigger on this strategy, we just need to look for ADX black line when it’s crossing the 30 level.
When we see this happening, we look for the price bar to be green (which means we want to see the price on the way up).
Next, we want to price bar to be above the envelopes.
Of course, having said this, please be sure that the price is not too far above.
If the price is up like 20% for the day, it’s best to avoid trade like this.
Next, we just need to check and confirm that the price is above support.
If all these 4 criteria are met, we have a strong buy signal from this strategy.
Likewise, it’s the same for short position.
We look for the ADX to be crossing 30 level.
Next, we look for the price bar to be in red color (which means a down day).
After that, we confirm that the price is below the envelopes.
And finally, we want to be sure that the price is below resistance.
If all these criteria are met, we have a strong sell signal from this strategy.
Simple? Yep… it is!
It is actually simple and after trading with this approach for several weeks, we absolutely love this approach.
While the strategy is good and sound, the question is are you able to wait or stay patient for a buy or sell signal to develop?
Most of the time, that’s the toughest challenge we face as a trader.
Staying patient is probably the toughest but drill it hard into your mind that you need to have patience in order to succeed in the long run.
Good luck and see you on the next video.
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