Simple Bitcoin Cryptocurrency Trading Strategy

The Simple Cryptocurrency Bitcoin trading strategy is composed of only two trading indicators. The first one looks for trend direction and the second one generates signals in the direction of the trend.

This strategy is very useful for Bitcoin and other cryptocurrencies trading. Of course, this strategy can be used on traditional currency pairs as well, such as the EUR/USD, GBP/USD, USD/JPY,..

Chart Setup

MetaTrader 4 Indicators: ASCTrendCycle.ex4 (Inputs Variable Modified; MAShort=33), (T_S_R)-Signal Line.ex4 (Inputs Variable Modified; period=15)

Preferred Time Frame(s):  1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Cryptocurrencies: Bitcoin (BTC/USD), Litecoin/Bitcoin (LTC/BTC), Ethereum/USD (ETH/USD), Ethereum/Japanese Yen (ETH/JPY)

Forex Pairs: Any

Download

Download the Simple Bitcoin Cryptocurrency Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following chart or indicator pattern gets put on display:

  1. If the lime filled line of the (T_S_R)-Signal Line custom indicator gets aligned somewhat below the candlesticks as seen on Fig. 1.0, it is an indication to go long on the ETH/USD cryptocurrency pair.
  2. If the dark orchid line of the ASCTrendCycle.ex4 custom indicator breaks above the 50.00 level as shown on Fig. 1.0, it is a trigger to go long on the cryptocurrency of interest.

Stop Loss for Buy Entry: Place stop loss below trading support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions take precedence:

  1. A clear exit or take profit scenario is established when the line of the (T_S_R)-Signal Line custom indicator turns blue during a buy signal as depicted on Fig. 1.0.
  2. If the dark orchid line of the ASCTrendCycle.ex4 custom indicator declines to break below the 50.00 level, it is a signal to exit or take profit at once.

Sell Entry Rules

Enter a sell is the following holds sway in the market:

  1. If the blue filled line of the (T_S_R)-Signal Line custom indicator gets aligned slightly above the candlesticks as seen on Fig. 1.1, it is a trigger to sell the ETH/USD cryptocurrency pair.
  2. If the dark orchid line of the ASCTrendCycle.ex4 custom indicator dips below the 50.00 level as shown on Fig. 1.1, it is a trigger to go short on the specified cryptocurrency pair (ETH/USD).

Stop Loss for Sell Entry: Place stop loss above trading resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  1. A strong exit or take profit set-up is proven when the line of the (T_S_R)-Signal Line custom indicator turns lime during a sell signal as illustrated on Fig. 1.1.
  2. If the dark orchid line of the ASCTrendCycle.ex4 custom indicator surges to rise above the 50.00 level, it is a trigger to exit or take profit without delay.

Sell Trade Example

Fig. 1.1

Free Download

Download the Simple Bitcoin Cryptocurrency Trading Strategy

About The Trading Indicators

The (T_S_R)-Signal Line or Terminate and Stay Resident Signal Line custom indicator is a moving average line that has a default period of 15, method set at 3 and price is at 0.

The ASCTrendCycle.ex4 custom indicator is a mix of the short and long moving average on a default cycle of 10 periods.

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