Forex Trend Trading Strategy With Legacy Trader MT4 Indicator And MACD

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.

Chart Setup

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

Download

Download the Forex Trend Trading Strategy With Legacy MT4 Indicator And MACD.

Example: GBP/USD Daily Chart

trend-trading-with-forex-macd

This trading example shows 6 profitable buy entries in an uptrend in the GBP/USD pair. Click the picture to enlarge the view.

Trading Rules

Long Setup:

  • 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.

Short Setup:

  • 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.

GD Star Rating
loading...
Forex Trend Trading Strategy With Legacy Trader MT4 Indicator And MACD, 10.0 out of 10 based on 1 rating

1 Comment

  1. Jenny says:

    Thanks, looks like a good forex strategy.

Leave a Comment


1 × = six