Black King Trading System For MT4

Black King Trading System For MT4

Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.

 

The Black King Trading System For MT4 can be used to trade all currency pairs at any time frame. However, if we use this strategy in the M30 or higher time frame, the overall trading process will be much easier. Moreover, the data in the trend dynamic index frequently changes in the M1 and M5 time frame. Thus, by looking for the trade signals in the M30 or higher time frame, we should be able to reduce the stress associated with extreme price fluctuations in the asset.

 

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Black King Trading System For MT4 - THE TRADING INDICATORS

To use the Black King trading System in a systematic manner, we should know about the functions of the core indicators used in this system.

 

Heiken Ashi

The Heiken Ashi candlesticks are used to smoothen the price movement of a particular asset. The bullish candles are marked with the green color and the bearish candle is colored red.

 

Moving Averages

The Black King utilizes two smoothed moving averages of periods 5; one applied to the high of the price and the other one to the low. The SMAs act like the dynamic support and resistance level and the price tends to respect this level.  Note that, the deviations in the two moving averages will create a channel-like structure and this channel should be considered as the support and resistance zone.

 

King 2 MA Crossover

The Black King Trading System exponential moving average crossover identifier. EMA with periods 4 and 8 have been used to identify the critical crossover in the chart. If the 4 EMA crosses above the 8 EMA, we should consider it as a bullish crossover. On the contrary, if the 4 EMA crosses below the 8 EMA, we should consider it as a bearish crossover.

 

King Trend SigSig Indicator

This is the primary signal indicator for this trading system. It creates a simple blue and red arrow in the main chart. Blue arrow suggests us to look for the long trade setup. On the contrary, the red arrow suggests us to look for the short trade setup.

 

Traders Dynamic Index

This indicator analyzes the trend direction, trend momentum, and market volatility. To understand the functions of this indicator, we may look at its sub-functions.

  1. RSI Indicator: Relative strength index is used to determine the overbought and oversold state of the asset.
  2. Volatility bands: it creates a simple channel that helps us to identify the volatility of the market.
  3. Market Base Line: It helps us to assess the overall state of the existing trend.
  4. Trade Signal Line: It helps to identify the shift in market momentum and lets us assess the quality of the trade signals.

 

QQE Indicator

The QQE indicator works more like the stochastic indicator. If the signal line is near the base, we should be expecting a bullish recovery attempt from the market. On the contrary, if the signal line trades near the top of the indicator window, we should be expecting a decent drop in the price.

 

FX Trend V2 Indicator

This is a momentum-based oscillator that shows the prevailing market condition. To use this indicator, we need to know the following two conditions.

  • Red histogram bars suggest the overall trend is bearish and we should be looking for the short signal.
  • Deep Sky Blue histogram bars suggest the overall trend is bullish and we should be looking for the long trade signal.

 

Black King Trading System For MT4 - TRADE SETUP

Example of long trade setup:

Conditions to take the long trade:

  • The King Trend SigSig blue arrow should be created in the main chart.

 

  • The King 2 MA crossover signal should appear at the close of the next candlestick.

 

  • The smoothed moving average channel should have an ascending slope.

 

  • The signal candlesticks should be colored in green.

 

  • RSI Indicator should cross the Trade Signal Line and the MBS from below.

 

  • The Blue Coloured QQE moving averages should cross the MBS from below.

 

  • The FX Trend V2 Indicator should print blue sky, deep sky blue histogram bars.

 

Example of short trade setup:

To take the short trade we need to check the following conditions.

Conditions to take the short trade:

 

  • The King 2 MA crossover signal should be magenta-colored.

 

  • The smoothed moving average channel should have a descending slope.

 

  • The signal candlestick should be red in color.

 

  • RSI Indicator should cross the Trade Signal Line and the MBS from above.

 

  • The Blue Coloured QQE moving averages should cross the MBS from above.

 

  • The FX Trend V2 Indicator should print red histogram bars.

 

 

Take profit and stop loss:

Usually, the stop loss and take profit level varies in this system as traders have their own preferred method to identify the SL and TP price. In general, you should be using the support and resistance level to determine the SL and TP. To keep the account capital safe, you should also look for the trade signal that offers you a minimum 1:3 risk to reward ratio.

 

Conclusion:

The Black King trading System finds the trade signals by analyzing the momentum of the market. So, to improve your trade accuracy, you should be using this system in a higher time frame as measuring the momentum will become a bit easier. But if you intend to use this system in a lower time frame, you still can do that, but you should be confident and rely on the system.

Note that, using a new trading system from the scratch is not an easy task. So, we suggest learning the use of this strategy in the practice trading account. Once you become comfortable, you may use this strategy to trade the real market. Last but not the least, always be prepared to accept losing trades while using this strategy.

 

Download the complete system description and the files here:

FREE Black King Trading System

Download the FREE Black King Trading System for MT4.

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