Welcome to The Basics of the Noble Impulse Strategy
The objective of this course is to provide an overview on how to properly implement the Noble Impulse indicator on your trading. The majority of this course will be spent on how to determine the trend using the Noble Impulse indicator.
First of all, what is Noble Impulse? Noble Impulse is an advanced algorithm that runs on top of the MetaTrader 4 platform. What Noble Impulse provides to users is a very powerful signaling service that instantly is visualized on the chart.
How Does It Work?
- Upward Signals tells you when you’re in a suggested buy area of a currency pair.
- Downward Signals tells you when you’re in a suggested sell area of a currency pair.
- Signals tell you when a potential entry is happening based on a sudden surge in movement.
- Signals tell you when it is time to exit your position based on a sudden surge in movement.
- Impulse Dots allows you to quickly visualize the trend, whether you are in a strong bullish trend, strong bearish trend or in a market range
Overall, Noble Impulse provides a very systematic approach when it comes to Forex trading. Its goal is to cut losses as quickly as possible and catch massive moves in the market.
Best Hours for Forex Trading
Before we go further, it is very important to know when is the best time to trade the Forex market. The week begins at 5 p.m. EST on Sunday and runs until 5 p.m. EST on Friday. Not every hour of the day is equally good for trading. The best time to trade is when the market is most active. Depending on your schedule, London and New York have the most significant fluctuation.
Below, you can see how Noble Impulse reacts during each session. Throughout the Asian and Sydney session, we can experience a lot of consolidation and accumulation. However, during the London and New York session is where normally the breakout happens.
Above is the chart of the GBPJPY 15M Timeframe on November 9, 2020. On this trade alone Noble Impulse managed to secure 200+pips. The first column is the Asian and Sydney session. As you can see we are in the consolidating or accumulation period. The market hasn’t fully decided on which direction to go yet. However, during London and heading to the New York session GBPJPY reached its new daily high. Noble Impulse was able to catch the sudden movement in the market and users were able to capitalize that day.
How to determine trend using Noble Impulse indicator
Market ranges or consolidation are easy to spot. Making the range breakout strategy very popular. However, many traders lose money on this strategy. Mainly because of unrealistic expectations. Many traders start guessing what the market is going to do next. As we all know, emotions and trading don't go well together.
This is why we implemented the Impulse Dots. So you can easily spot whether the market is trending or consolidating. In other words, if you are allowed to trade or have to wait for the opportunity to present itself.
Below is the chart USDCHF 15M Timeframe on November 9, 2020. As you can see on the First column, during the Asian and Sydney session we are in the consolidating phase and slowly began to make an upward movement throughout the London session. And trend continuation during the New York session. Below is the further explanation on how to use the Impulse Dots on determining the trend.
Visualizing The Impulse Dots
There are 2 factors to determine the trend using the Impulse Dots. Horizontal lines mean consolidation. Diagonal lines mean strong bullish/bearish trends
This is a visual of USDCHF without the arrows on 15M Timeframe on November 9, 2020.
Consolidation period/Horizontal formation - During this period Impulse Dots are relatively close to each other and forming a horizontal line. This is the time where we should stay away from opening a position and wait for the vertical line to break. The longer the lines the stronger the breakout.
Trending period/Diagonal formation - Impulse dots are forming a diagonal line and starting to break apart from each other. This indicates a strong upward/bullish momentum.
When should I enter a trade?
Whether going for a Long or Short position. Noble Impulse can give you a signal when it's time to BUY or SELL. We should consider not taking any position when the market is ranging like mentioned above. As soon as you see the diagonal line starting to form, that is considered a strong trend. That’s the time when we can open a position.
When should I exit a trade?
There are two factors in which we need to consider upon exiting a trade. First, as soon as the opposite signal shows up, that’s our indication to exit the previous position and possibly open a new one depending on the current condition. Secondly, when you see the Impulse Dots forming a horizontal line since there are limitations on opening a trade during the ranging market.
We all agree that there’s no indicator that can give you a 100% winning rate. In the next section of the Noble Impulse Strategy. We will show you how to filter false signals.
You have finished the basics on Noble Impulse Strategy. When you’re ready, you can check out the Intermediate strategy for Noble Impulse. We will show you the strategy that significantly increased our winning rates and filter false signals by using some of the most popular indicators that many people are already using successfully.
If you need any assistance or have any questions, please reach out to us via email on our website under the contact us section or the email down below. Noble Impulse offers 24/7 support. But due to high traffic, it may take a few hours for our support team to respond. We will do our best to get back to you in a timely manner.
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