Janus System For MT4
The Janus System For MT4 is a short term intraday trading system. This trading system makes use of price trend, momentum and of course the strength of the currency pair. The Janus system for forex trading is ideal when you want to scalp the markets in the short term.
The take profit levels are easy to attain and when the momentum is good, you can easily get in and out of a trade quickly. This trading system is particularly helpful when you are trading around news releases as the combination of the technical analysis and the indicators used goes well with the fundamentals.
The trading system comprises of a number of indicators. Firstly, we have the XP trend bars. This indicator is responsible for plotting the price bars that look like Heiken Ashi candlesticks. However, make no mistake. The XPS trend bars simply show the price trend unlike the traditional Japanese candlestick charts which changes color depending on whether the close is higher or lower than the open.
The XPS trend bars therefore make for a great way to identify the price trends easily. We then have the Indi 1 indicator. This indicator is responsible for plotting the up and down arrows on the price chart. They signal potential turning points in price. However, if you look at the charts, the signals also comprise of fake reversals which is signaled by this indicator. Therefore, you should not trade this indicator in isolation.
We then have the ATR projections indicator. This indicator is responsible for plotting the comments you see on the top of the chart. The ATR projection indicator plots various details such as the ATR value and based on this, it projects the up and down price levels. This indicator can be used in some ways to identify the potential target levels, if you prefer to trade using the ATR. However, if you are not that keen on using the ATR values in your trading, you could remove this indicator.
Finally, we have the efinancebanks indicator. This indicator simply plots the support and resistance areas on the price chart. Price tends to gravitate towards these levels and then form a possible area of reversal in price.
Moving on to the sub windows, firstly, we have the XPS 8 oscillator. This indicator shows whether the trend is up or down. Depending on the trend, it will plot blue or magenta colored bars in the sub window. Finally, in the second sub window we have the currency heatmap indicator. This indicator plots the currency strength. You could make use of this as a potential indicator to choose the currency pairs that you want to trade.
But it is important to note that the currency strength indicator used in the Janus system for forex trading can basically change the values as and when price evolves. Therefore, traders need to apply with caution.
In our example of the trading signals using the Janus system for forex trading, we will use the currency strength indicator mostly as a confirmation tool for the trades, rather than let the indicator lead us into the trade.
Let's now take a look at how you can trade long and short positions in the market using the Janus system for forex trading.
The Janus system for forex trading – Long positions
To take long positions using the Janus system for forex trading, we look for price to be trading near one of the support levels. When price is here, we need to have the oscillator turning to blue suggesting that the price action is turning bullish.
After this, look for confirmation from the candlesticks directly. You need to see them turning brown indicating that a potential breakout is coming. Finally, after the first candlestick turns blue, you can take a long position at market.
Set your stop loss to the low of the candlestick that formed prior to the entry. Use the upper resistance level as your target level. If the upper resistance level is a bit far away, then you should ensure to cover your stops to break even so that you do not end up giving back the profits.
The Janus system for forex trading – Short positions
To take short positions using the Janus system for forex trading, we look for price to be trading near one of the resistance levels. When price is here, we need to have the oscillator turning to pink or magenta suggesting that the price action is turning bearish.
After this, look for confirmation from the candlesticks directly. You need to see them turning pink indicating that a potential breakout is coming. Finally, after the first candlestick turns pink, you can take a short position at market.
Set your stop loss to the high of the candlestick that formed prior to the entry. Use the lower support level as your target level. If the lower support level is a bit far away, then you should ensure to cover your stops to break even.
Is the Janus system for forex trading good for you?
In conclusion, the Janus system for forex trading is a simple to use short term scalping system. This trading strategy is ideal if you want to take a few pips every day. You get lots of signals using this trading system. The template that comes with the Janus system for forex trading is very light weight. So, you can easily use the Janus system for forex trading to monitor multiple charts and instruments at the same time.
But as we always mention, do not trade with this strategy on more than three currency pairs as it can get difficult for you to manage your trades and thus your risk. Overall, the Janus system for forex trading is ideal for even beginners. This trading system gives you basics into how to trade with support and resistance.
The charts are also ok to look at, however they might be a bit cluttered sometimes. All in all, the Janus system for forex trading is a trading system worth trying.
Download the complete system description and the files here: