Nitrofx Forex Trading System

The Nitrofx Forex Trading System is based on the Renko charts and Moving Average. In this guide, we’ll mention the system and how you can trade it.

What is the Nitrofx Forex Trading System?

NitroFX is a forex trading system that uses Renko charts and a 14-period moving average to identify trading opportunities in the market.

The Renko is a chart based on price movement rather than time. It consists of bricks or blocks plotted on the chart, each representing a certain amount of price movement.

The brick size can vary based on your preference. The system uses green bricks for bullish trends and white bricks for bearish trends.

In the NitroFX system, the 14-period MA is combined with the Renko chart to identify the market’s overall trend. The MA is calculated by taking the average price of the past 14 periods and plotting it on the chart.

Nitrofx Forex Trading System
Nitrofx Forex Trading System

Nitrofx Forex Trading System Strategy

The Nitrofx Forex Trading System is a trend-following system, so you must first look at the trend’s direction. The system uses the Renko chart and moving average to look for a clear trend direction.

When the price is above the MA and the Renko chart shows a series of green bricks, it strongly indicates a bullish trend, and you can go long.

On the other hand, when the price is below the MA and the Renko chart shows a series of white bricks, it is a strong indication of a bearish trend, and you can go short.

The good thing is Nitrofx works on all timeframes. So, you can use it for long-term strategies and short-term strategies.

Buy Signal

  • The Renko chart must show a series of green bricks.
  • The price must be above the MA.
  • Wait for the price to go upwards and then enter the trade.
  • Place a stop-loss at the recent low.
  • Exit the trade when the price dips below the MA or there are white bricks.
Nitrofx Forex Trading System buy signals
Nitrofx Forex Trading System buy signals

Sell Signal

  • The Renko chart must show a series of white bricks.
  • The price must be below the MA.
  • Wait for the price to go downwards and then enter the trade.
  • Place a stop-loss at the recent high.
  • Exit the trade when the price goes above the MA, or there are green bricks.
Nitrofx Forex Trading System sell signals
Nitrofx Forex Trading System sell signals

Nitrofx Forex Trading System Pros and Cons

Pros

  • The NitroFX system is easy to understand and use.
  • It adds MA confluence with the Renko charts.
  • It works on all timeframes.

Cons

  • The NitroFX system is a trend-following strategy, which may miss out on quick reversals.
  • The system is designed to identify and trade in trending markets, so it may not perform as well in range-bound markets.

Conclusion

The NitroFX forex trading system is a trend-following strategy that uses Renko charts and the moving average to identify trading opportunities in the forex market.

The system is relatively simple and easy to understand. However, it may not perform well in range-bound markets.

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