Tosco trading system is a combination of several indicators and has been tested, the results obtained are a very profitable trading system. This system can be applied to all currency pairs, but according to testing, this system is best when applied to currency pairs GBPUSD, EURUSD, USDJPY and AUDUSD. This system can also be applied to all time frames, but based on the results obtained from the testing process, we will focus most of our trading on H1 and H4 time frames. Below is a list of indicators that we will use.
- Pivot point indicator with default settings
- EMA period 50
- MACD with settings 8, 17, 9
- RSI with setting period 14
Below is a display of these indicators on your chart.
RULES TO DO BUY ORDER - Current price must be above the EMA 50 line
- The MACD histogram must be above level 0
- RSI is above level 50
- Entry is carried out above the pivot, support or resistance line that has been broken by the price
- SL is placed below the previous pivot point or in the next pivot point area
- TP is placed in the nearest pivot point area
RULES TO DO SELL ORDER - Current price must be below the EMA 50 line
- The MACD histogram must be below level 0 3. RSI is below level 50
- Entry is done below the pivot, support or resistance line that has been broken
- SL is placed above the previous pivot point or the next pivot point
- TP is placed in the nearest pivot point area.
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