The forex trend trading strategy with Legacy indicator and MACD is a low risk power trend strategy looking to take advantage of pullbacks in both uptrends and downtrends. Let’s take a look how this simple strategy works.
Indicators: The Legacy Trader MT4 Indicator, MACD (default settings)
Preferred time frame(s): Any
Trading sessions: Any – London and US for the lower time frames (M1, M5, M15)
Preferred Currency pairs: Any
Example: GBP/USD Daily Chart
This trading example shows 6 profitable buy entries in an uptrend in the GBP/USD pair. Click the picture to enlarge the view.
- MACD above 0.00 level (bullish setup)
- The Legacy Trader MT4 Indicator turns from magenta (short-term bearish) dot to aqua dot (short-term bullish).
==> Initiate Buy trade.
Stop-Loss: Place stop-loss 3 pips below the most recent swing low point (support).
Targets: Risk-to-reward (2:1, i.e. risking 30 to make 60) or let the buy trade run until the next magenta dot appears on the chart.
- MACD below 0.00 level (bearish setup)
- The Legacy Trader MT4 Indicator turns from aqua (short-term bullish) dot to magenta dot (short-term bearish).
==> Initiate Sell trade.
Stop-Loss: Place stop-loss 3 pips above the most recent swing high point (resistance).
Targets: Risk-to-reward (2:1, i.e. risking 40 to make 80) or let the sell trade run until the next aqua dot appears on the chart.
Like us on Facebook
- Zero Lag Countdown Timer For Metatrader 4
A zero lag countdown timer indicator for Metarader 4.
- 200 EMA Forex Trend Indicator
This forex indicator shows you the EMA200 (200
- Daily Pivot Points Forex Indicator
This indicator draws the daily pivot point on any
- Strength Candles Buy/Sell Forex Indicator
The strength candles buy/sell indicator measures the
- Buy And Sell Forex Trend Indicator
An arrow based buy and sell forex indicator. Red
- Basic Forex Strategies
- Binary Options Strategies
- Forex Bollinger Bands Systems
- Forex Broker Reviews
- Forex Scalping Strategies
- Forex Scalping Systems
- Forex Trading Pattern Strategies
- Forex Trend Following Systems
- Metatrader 4 Indicators
- Metatrader 4 Trading Systems
- Price Action Forex Trading Strategies
- Reversal Forex Strategies
- Simple Forex Trading Strategies
- Trend Following Forex Strategies
- December 2014 (1)
- November 2014 (1)
- October 2014 (3)
- September 2014 (1)
- August 2014 (2)
- July 2014 (7)
- June 2014 (5)
- May 2014 (3)
- April 2014 (3)
- March 2014 (19)
- February 2014 (24)
- January 2014 (17)
- December 2013 (11)
- November 2013 (28)
- October 2013 (6)
- September 2013 (5)
- August 2013 (12)
- July 2013 (27)
- June 2013 (20)
- April 2013 (16)
- March 2013 (57)
- February 2013 (35)
- January 2013 (6)