Nihilist forex strategy is one of the most popular trading strategies that is available free of cost. Although it comprises of many different indicators, once a trader is well accustomed to trading this system, it makes for a well versed and fully complete trading strategy that is primarily targeted for the higher time frame such as H4 and Daily charts.
Strategy Set up
Nihilist Forex strategy Rules
Short Set up:
- 1st histogram (ultra trend)- Red.
- 2nd histogram (utf-1)- red or orange
- 3rd histogram (utf-2) – red or orange
Long Set up:
- 1st histogram (ultra trend)– Lime
- 2nd histogram (utf-1)- lime or dodgerblue
- 3rd histogram (utf-2)- lime or dodgerblue
- after decent profit (it’s up to you)
- run the trade until got the opposite signal.
- can be used weekly support/resistance.
- you can use trailing stop.
- or fixed TP- 50/100/150/200/ or more . (by reading the Higher tf like D1 & Weekly.)
Long Set up
The chart above shows the candlestick marked where all the indicators show agreement for a long set up.
- A long position is entered on the close of the candle, with the profits being trailed until an opposite signal is generated
- The stops are placed at the low prior to the candlestick that signaled the long trade
- The long trade quickly resulted in a profit
Short Set up
- In the chart above, the candlestick marked with the down yellow arrow points to the price zone where all the short characteristics are met
- With all the indicators showing an agreement for a short trade, the trade is entered after the candlestick closes with stops placed just above the high
- In this case, the short trade’s take profit level is taken until the oscillators show us about a change of the short term trend.
- The short position would have resulted in a profit
Although Nihilist forex system might seem complicated it follows a series of logical buy/sell rules. With enough practice using this trading strategy, traders can easily trade this system on higher time frames as well as modify it to suit their requirements.
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