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This is a trend following strategy developed by Joe Ross, and the idea behind the technique is to have the trader on the right side of the market at all times. It uses a fifteen-bar exponential moving average of the close, along with a simple forty-bar moving average of the highs and lows. The forty-bar simple moving average of the highs and lows creates a channel and we enter a trade only when prices move beyond the bounds of the channel. We also use an additional filter of the ADX indicator to confirm the entry, and Fibonacci Expansions to determine the targets. The advantage of this system is that it determines precise levels of entry, stop and targets for a forex trade.
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The proprietary FXI Camelback indicator takes advantage of Joe Ross' Camelback technique to automate the process of finding valid setups.
When all the technical conditions have been met, the indicator alerts you with a customizable visual and audio alert.
The FXI Camelback and other indicators are provided at no charge to members of the Live Trading Room.
