100 HMA Momentum Forex Trading Strategy

The 100 HMA Momentum forex trading strategy is a profitable strategy that uses momentum and trend to generate trading signals in both rising and falling currency markets.

The added indicators are easy to implement, i.e. the 100pips Momentum indicator allows us gauge price momentum, while the HMA_v2 is a great trend trading indicator that works for any currency pair and timeframe.

Chart Setup

MetaTrader4 Indicators: HMA_v2.ex4 (Inputs Variable Modified; HMA_Period=36), 100pips Momentum.ex4 (Colors Width Modified)

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

Recommended Trading Sessions: Any (London, New York, Tokyo)

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

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

  1. If the magenta dotted line of the HMA_v2 custom MT4 indicator gets placed somewhat below price bars as shown on Fig. 1.0, price is said to be taken higher i.e. a trigger to buy the stipulated currency pair.
  2. If the red line of the 100pips Momentum custom indicator intersects the blue line in a bottom up manner as depicted on Fig. 1.0, the overall market sentiment is said to be bullish, hence a buy alert will suffice.

Stop Loss for Buy Entry: Place stop loss 3 pips below trading support.

Exit Strategy/Take Profit for Buy Entry

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

  1. If while a buy signal is ongoing, a chartreuse dot pops up somewhat above the candlesticks as illustrated on Fig. 1.0, price is said to be making a U-turn away from its earlier stance, as such an exit or take profit will suffice.
  2. If the lines (red & blue) of the 100pips Momentum MT4 indicator intersect during a bullish trend, it is an indication of weaning bulls power, hence an exit or take profit is advised.

Sell Entry Rules

Enter a sell order if the following holds true:

  1. If the chartreuse dotted line of the HMA_v2 custom MT4 indicator gets aligned slightly above the candlesticks as seen on Fig. 1.1, price is said to be driven lower i.e. a trigger to sell the elected fx pair.
  2. If the red line of the 100pips Momentum custom indicator cuts through the blue line in a top downward fashion (see Fig. 1.1), the overall market sentiment is said to be bearish, hence a trigger to go short at once.

Stop Loss for Sell Entry: Place stop loss 3 pips above trading resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes to the fore:

  1. If while a sell alert is running, a magenta dot gets put on display within the activity chart (refer to Fig. 1.1), price is said to be making a possible bullish reversal, as such an exit or take profit will do.
  2. If the lines (red & blue) of the 100pips Momentum MT4 indicator intersect during a bearish trend, it is an indication of halting bears power, hence an exit or take profit is recommended.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The HMA_v2.ex4 custom indicator displays a dotted line on the chart, wherein the colors of the dots are altered in relation to buy/sell signals.

The 100pips Momentum.ex4 indicator offers bullish and bearish entry signals.

This is due to the indicator’s composition i.e. being made up of four technical studies with the ATR volatility indicator included.

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