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
- 3 Exponential (3 EMAs) Moving Average Metatrader 4 Indicator
This is a very nice buy/sell forex indicator based on
- PSAR Rapid Forex Scalper System
Take advantage of forex scalping with the Parabolic
- Trend Following Candlestick Metatrader 4 Indicator
This special candlestick indicator is trend following
- 8 Waves Metatrader 4 Indicator
The waves MT4 indicator consists of 8 different waves
- Daily Percent Price Change Metatrader 4 Indicator
This indicator shows you the daily percent price
- 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
- Don T. on Plus500 Broker Review
- Geoff Lowes on Stochastic Cross Alert Metatrader 4 Indicator
- Geoff on Stochastic Cross Alert Metatrader 4 Indicator
- hussein on Forex Scalping Strategy With Stochastic Oscillator
- Jenny on Forex Trend Trading Strategy With Legacy Trader MT4 Indicator And MACD
- DolphinTrader on Forex Scalping Strategy With Stochastic Oscillator