HalfTrend Forex Trading System

The HalfTrend forex trading system scalps the currency market and can also be employed as an intraday trading strategy on higher timeframes. The strategy uses two custom Metatrader 4 indicators.

Chart Setup

MetaTrader4 Indicators: HalfTrend-1.02.ex4 (default setting), GG-RSI-CCI.ex4 (default setting)

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

Recommended Trading Sessions: London Open | New York Open

Currency Pairs: Majors + Currency crosses + Gold

Download

Download HalfTrend Forex Trading System

Buy Example (click the image for full size):

halftrend-forex-trading-system

Fig. 1.0

Strategy

Long Entry Rules:

The following conditions or rules are required for a buy entry:

  1. The HalfTrend indicator forms a DodgerBlue upward facing arrow along with a DodgerBlue lower spiked line that are both placed below price bars. Once this pattern is observed, we can initiate a buy position(s).
  2. The GG-RSI-CCI custom indicator forms corresponding YellowGreen bars within its indicator window, a sign that price pressures are in favor of an uptrend and as such a buy entry is most suitable.

Stop Loss for Long Entry: Measure stop-loss ≥5-25 away from entry price (use small stop-loss for small timeframe).

Exit Strategy/Take Profit for Long Entry

The following rules will define our exit or take profit strategy:

  1. If the HalfTrend indicator forms a red downward facing arrow along with a red upper spiked line that are both placed above price bars. This indicator pattern defines a reversal in the market and as such an exit or take profit should be initiated.
  2. If the GG-RSI-CCI custom indicator forms golden bars within its indicator window, it signals reduced volatility and as such sessions of uncertainty in the market.

Sell Entry Rules

Enter a sell order when the following conditions are on display on the activity chart:

  1. The HalfTrend indicator forms a red downward facing arrow along with a red upper spiked line that are both placed above price bars. This patterns suggests that price pressures favor downside movement, as such sell order(s) is in place.
  2. The GG-RSI-CCI custom indicator forms an equivalent OrangeRed colored bars within its indicator window, a sign that price pressures favors bears and as such a sell entry is advised.

Stop Loss for Sell Entry: Enter stop loss ≥5-25 away from entry price

Exit Strategy/Take Profit for Sell Entry

The following conditions will define a suitable exit or take profit strategy:

  1. If the HalfTrend indicator forms a DodgerBlue upward facing arrow along with a DodgerBlue lower spiked line that are both placed below price bars. It means price is on its way back up and an exit or take profit would do at this point.
  2. During a downtrend, if the GG-RSI-CCI custom indicator forms golden bars within its indicator window, it signals reduced volatility and as such sessions of uncertainty in the market.

halftrend-forex-trading-strategy

Fig. 1.1

Free Download

Download The HalfTrend Forex Trading Strategy

About The Trading Indicators

The HalfTrend-1.02.ex4 custom indicator is a technical study that defines reversal within the market for any tradable instrument.

The indicator combines an upward dodgerblue upward facing arrow along with a downward spiked line place below price bars to signal a buy, while a downward pointing red arrow with an upward spiked line aligned above price signals a sell.

The GG-RSI-CCI custom indicator combines the RSI and the CCI to develop a technical study that uses YellowGreen, Gold and OrangeRed to define a buy, low volatility period and sell sessions respectively.

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