Forex Cloud Trading Strategy

The forex cloud trading strategy is a system that incorporates three technical studies in the generation of buy and sell alerts i.e. Forex-breakout-box.ex4, Forex-mt4-trend-indicator.ex4 and the ForexCloud.ex4 custom indicator.

Chart Setup

MetaTrader4 Indicators: Forex-breakout-box (default setting), Forex-mt4-trend-indicator (default setting), ForexCloud (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours

Recommended Trading Session(s): Any

Currency Pairs: Majors + currency cross pairs

Download

Download the Forex Cloud Trading Strategy

Buy Example (click the image for full size):

forex-cloud-system

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry when the following chart/indicator pattern(s) are in display:

  1. When the blue upward pointing arrow and candle like bars of the Forex-mt4-trend-indicator forms below price bars, it denotes a bullish trend.
  2. Lookout for upward price breakout from within the Forex-breakout-box custom indicator.
  3. If the dotted lime colored stretched rectangle shaped ForexCloud indicator forms below price bars, it thus suggests a northward price action.

Stop Loss for Long Entry: Draw a horizontal line just below your entry candle on the upper dotted lime colored line of the ForexCloud custom indicator.

Exit Strategy/Take Profit for Long Entry

The following rules or conditions would define an efficient exit or take profit strategy:

  1. When a red southwards facing arrow of the Forex-mt4-trend-indicator forms above price bars, an exit should be considered.
  2. If price breaks below the Forex-breakout-box custom indicator, consider an exit/take profit from open order(s).
  3. If the dotted red colored stretched rectangle shaped ForexCloud indicator forms above price bars, a reversal in price is imminent.

Sell Entry Rules

Enter a sell order when the following indicator/chart patter(s) are displayed on the screen:

  1. When a red southwards facing arrow and candle like bars of the Forex-mt4-trend-indicator forms above price bars, a sell is in order.
  2. If price breaks below the Forex-breakout-box custom indicator, initiate a sell position(s).
  3. If the dotted red colored stretched rectangle shaped ForexCloud indicator forms above price bars, it suggests downward price pressures.

Stop Loss for Sell Entry: Draw a horizontal line just above your entry candle on the lower dotted red colored line of the ForexCloud custom indicator

Exit Strategy/Take Profit for Sell Entry

The following conditions will define your exit or take profit strategy:

  1. When the blue upward pointing arrow of the Forex-mt4-trend-indicator forms below price bars, a reversal is triggered and as such an exit should be considered.
  2. Lookout for upward price breakout from within the Forex-breakout-box custom indicator.
  3. If the dotted lime colored stretched rectangle shaped ForexCloud indicator forms below price bars, it thus signals a reversal in trend and as such an exit should be considered.

forex-cloud-strategy

Fig. 1.1

Free Download

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About The Trading Indicators

The Forex-breakout-box acts like a zone that defines price direction, as such if price breaks out of the box downward or upward, then trend is said to be bearish or bullish respectively.

The Forex-mt4-trend-indicator is a custom indicator that combines an arrow and candlestick like bars in delivering buy or sell trading alerts. The Forex-mt4-trend-indicator can also be used as a gauge for measuring reversals.

The ForexCloud resembles a cloud the way it sits itself above or below price bars, offering an overall market direction.

When the cloud is red and sits above price bars, it denotes a bearish trend, while it denotes a bullish trend when it is green and sits below price bars.

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