One of the biggest discovery of modern forex trading, is presence of wave structure in the market. According to Elliot (Elliot waves), waves can be broken down to typical structure that is repetitive. In theory, once we correctly identify a wave structure trading will become almost a sure thing. Where is a problem then ? In practice it is extremely hard to identify waves with confidence, due to the fractal properties of the market. Also, waves are almost never perfect (as they are in most of the schemes). Add stress to the mix and Elliott waves identification becomes very difficult task.

Fortunately there is one excellent forex indicator that can help you to identify wave structure just enough for you to profit from forex market.
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Forex indicators used in the strategy
This forex strategy uses modified fractal indicator iFractals. Calculation period is higher, indicator will be only drawn if 10 candles are closed next to a high (standard settings is 2 candles on each side). Fractals indicator with these settings does a good job in revealing wave structure of the market just enough for us to be able to enter the trade with confidence.
SMA (smoothed moving average) 31 and 14. Additionally standard tool of trend separation is used. SMA helps us with entering only the trend following trades. Both SMA used in this forex strategy are of relatively fast calculation period and are able to adapt promptly to market conditions.
Those two indicator are working amazingly well in tandem.
Forex strategy rules
Strategy works best in 15 minutes timeframe. It is recommended to use it only on major pairs, but this is only due to the spreads. It works very well on most of the forex instruments and timeframes.
SELL:
SMA 14 (green) is trending below SMA 31 (blue). This will signalize a downtrend.

Swing downwards is marked by bearish (red) fractal at its top and blue (bullish) fractal at the bottom. Bullish fractal will mark the price at which we place our pending order. Bullish fractal is lower than previous bullish fractal. Our signal swing has reached new low.
We will enter pending order only if two SMA haven't switched position, as it might signalize trend reversal.
After we enter the sell order we measure the distance that was reached by correction, going against our signal swing. We place our stop loss at highest price reached in the correction. Same distance will be also used for take profit.
BUY:
SMA 14 (green) is trending above SMA 31 (blue). This will signalize an uptrend.

Swing upwards is marked by bullish (blue) fractal at its bottom followed by red (bearish) fractal at the top. Bearish fractal will mark the price at which we place our pending order. Bearish fractal is higher than previous bearish fractal. Our signal swing has reached new high.
We will enter pending order only if two SMA haven't switched position, as it might signalize trend reversal.
After we enter the buy order we measure the distance that was reached by correction, going against our signal swing. We place our stop loss at lowest price reached in the correction. Same distance will be also used for take profit.
Notes: The best swings can be found on SMA crossing. It means that our signal swing for a new trend may have started in previous trend as a correction. Those are the best entry therefore it is possible to double the exposure on such a position.