What is Moonch Index?
Olymp Trade has recently launched new securities and one of them is the Moonch Index. In my previous article, I have covered Maha Jantar Index. You can check it out here.
Now, What is Moonch Index It is a religion-specific asset for India. This Index is based on the ratings of Bollywood movies and it’s most famous superstars. It is to be noted that this security is highly volatile and therefore, In this article, I will be combing the security with Alligator Indicator as it works best with highly volatile security.
How to set Moonch Index at Olymp Trade?
To set Moonch Index => Firstly log in your Olymp Trade account => Next click on the asset box => and search for the name => select the name.
Next to set Alligator Indicator Indicator => click on the Indicator button => search for name => click on the name.
You can change the colour of the Indicator if you don’t like it. also, make sure to set the default to candlestick for better results.
How to trade with the combination of Alligator Indicator and Moonch Index at Olymp Trade
Trading with Alligator Indicator is very easy. Alligator Indicator is made from the composition of three moving average lines. The intersection of the three lines generates buy and sell opportunities. The three lines of the indicator are the lips made from the composition of 5 moving averages and 3 smoothed bars. Second-line Jaw is made from the composition of 13 moving averages and 8 bars. whereas the teeth is made from the composition of 8 moving average and 5 bars.
It is to be noted that the lips is the fastest line while the jaw is the slowest one.
Open buy trade with lips domination
When the three lines intersect each other and the lips line ( green line ) cuts them all and stay above all is a signal of a bullish trend and here we can open a buy position.
Place sell trade with Jaw domination
Similarly, when the three intersect each other and the Jaw line is above all is a signal of the bearish trend and here we can place a sell trade.
So, This is how you trade with a combination of Moonch Index and Alligator Indicator. You can use this indicator with support and resistance to confirm trades. Once you have got a buy signal on the Alligator indicator now, check the price if it is near the support level it signals a strong bullish trend and vice versa If you found a bearish trend with the indicator plus the price is near the resistance is a signal of a strong bearish trend. Now, try this strategy at the Olymp Trade demo account and comment below your experience. I would really love to hear from you.