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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.

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