Forex Ripper Trading System is an Indicator System MT4 that gives NON-Repaint buy/sell signals. This system is based on six different indicators. It is a useful trading system specialized for entering into short-term reversal swings.
The system has clear signals to enter the market and clear signals to exit the position and capture the target. The Forex Ripper Trading System is extremely clear and suitable for traders with any trading experience.
This Strategy is entirely manual. The indicators produce the signals, but any decisions to enter the market and to set protection stops or profitable exit stops will depend on the trader. Therefore, the trader must be familiar with the principles of risk and reward and use initial support and resistance areas to set entries and exits.
Forex Ripper Indicator can give you trading signals you can take as they are or add your additional chart analysis to filter them further, which is recommended. While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
Indicators Used in Ripper Trading System
The Ripper Trading System uses four custom-made indicators:
Channel indicator
This indicator is a channel made of two trend lines ( support – resistance ). We use this indicator to know when the price reaches oversold and overbought levels.
- Blue line = Overbought = Best time to close any Buy orders = Not good time to open any new Buy orders.
- Red line = Oversold = Best time to close any Sell orders = Not good time to open any new Sell orders.
Heiken Ashi ( Blue bars – Red Bars )
This is a simple indicator to show us if the current wave is going up or down. It’s just used for visual guidance and will not be used in the system itself.
Arrows
This indicator prints blue arrows for buy signals and red arrows for sell signals. It’s based on fractals and is very powerful. But like any other indicator, it’s not perfect. That’s why we are using other indicators to confirm the signals.
Big dots ( trend reversals )
This indicator prints a big – blue or red dot – on top or below major support and resistance levels. It’s based on zigzag calculations so expect to see it change its signals sometimes. Don’t ignore it just because it repaints. It’s still very powerful, especially on 1 H and higher time frames.
Small dots ( S/R )
This indicator shows the major support and resistance levels. A new dot will be painted with every new candle going in the right direction. When this support or resistance is broken (the price passes this level ), a new dot of the opposite color will appear.
Red dots = resistance
Blue dots = support
When the price is testing a new support/resistance, the indicator will change its signal according to price movement. To make sure that the new support/resistance is successfully formed, we are not going to use other indicators for confirmation.
Target lines
This indicator shows horizontal lines across the chart. Each line is a good target/exit level. You can change the place of each line ( The distance of each line from the main muddle red line ) from the indicator’s settings.
Trading System for MT4 can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it in any time frame that suits you best, from the 1-minute to the 4-hour charts. Work best on M30 and H1 TimeFrames.
Trading rules for Forex Ripper
Follow money management & Don’t enter to trade within the high-impact news period. Exit from your trades half & an hour from the high-impact forex news.
As always, to achieve good results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
First, you must understand the main indicators of this system – the more powerful signal – will come from 3 indicators.
- The arrows indicator ( fractals )
- The small dots indicator ( S/R )
- The big dots indicator ( trend reversals )
The golden rule here: Enter the market when you get at least three signals from 3
Forex Ripper Trading System. and exit the market when you get any ( one ) signal from any indicator of the above indicators.
Arrow + Big dot + Small dot
This signal won’t happen every day. Maybe 3 or 4 times per week. But it’s very
powerful.
Buy Entry
- Appeared a big Blue dot
- Appeared Blue arrow up
- Appeared small Blue dots
Sell Entry
- Appeared a big Red dot
- Appeared Red arrow down
- Appeared small Red dots
Trade Exist for Indicator System
Any positions with this system can be liquidated using a fixed profit target. Alternatively, the profit target should be set on the top/bottom line of the channel. You may also exit the trade manually if the system conditions reverse.
It is recommended to use a stop loss. Set SL 10 pips below the previous support and resistance. Using fixed stop loss settings without any reference points is not advocated.
