First, we can trade this new FSP v.2 system as per original rules by using FSP HTF Trend indicator to determine the long term trend direction and then use one of the FSP Conservative Entry or FSP Medium Aggressive Entry. For FSP Aggressive Entry, we don’t need any higher timeframe confirmations and can place them as soon as we have a signal. For FSP Ultra Aggressive Entry, we have to use the FSP Fast Trend to confirm our entry and of course we need to have that huge move in the opposite site of our entry signal direction.
Old entry types
Conservative and Medium Aggressive long trade rules:
1) FSP HTF Trend indicator to be colored blue showing that there is an uptrend going on at the moment.
2) Some of FSP Conservative Entry or FSP Medium Aggressive Entry indicators to have one closed blue bar and the next current one to be blue also.
3) Next if all the above conditions were met, a long entry can be placed.
4) Stop Loss is set just below the last swing low point.
5) Take Profit is set as per original FSP rules, depending the market and pair volatility or equal to Stop Loss.