Looking for ways to capture new market trends that are forming is something traders constantly look out for.
Therefore the Ahoora Oscillator Forex Alerts trading strategy is cleverly designed to provide clues on when the market trend shifts from buy to sell or vice versa.
This certainly can be attributed to its simple trading rules, which takes advantage of setup patterns from the Forex sunrise and Ahoora oscillator technical MT4 indicators.
Most traders will love to trade the market at the slightest opportunity, but such intuitive behaviors can be disastrous and should be curtailed using predefined trading rules.
If traders gain enough discipline to stick to the Ahoora Oscillator Forex Alerts trading strategy, it’ll certainly guarantee improved trading alerts.
MetaTrader4 Indicators: ahoora-oscillator.ex4 (Inputs Variable Modified; Lookback=50, ma_method=3), forex-sunrise-indicator.ex4 (Colors Width Modified, #0=2, #1=2)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the ahoora-oscillator indicator line turns lime as seen on Fig. 1.0, price is said to be driven to the upside, hence a trigger to go long on the designated currency pair.
- If the blue line of the forex-sunrise-indicator Metatrader 4 forex indicator hovers slightly below the candlesticks as depicted on Fig. 1.0, the overall market sentiment is said to be bullish, therefore a buy signal is imminent.
Stop Loss for Buy Entry: Place stop loss 1-3 pips below immediate support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If the ahoora-oscillator indicator line reverts its color to red within the indicator window during a bullish signal, bulls power is said to be weaning, therefore an exit or take profit is duly advised.
- If the forex-sunrise-indicator line turns deep pink during the course of a bullish trend, it is signaling a probable trend reversal, hence a trigger to exit or take profit at once.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the ahoora-oscillator indicator line turns red as exemplified on Fig. 1.1, price is said to be pressured lower, hence a trigger to go short on the selected forex pair.
- If the deep pink line of the forex-sunrise-indicator gets placed fairly above the candlesticks as illustrated on Fig. 1.1, the general market sentiment is said to be bearish, therefore a sell order will suffice.
Stop Loss for Sell Entry: Place stop loss 1-3 pips above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the ahoora-oscillator indicator line changes its color to lime within the indicator window while a bearish trend is running, bears power is said to be halting, therefore an exit or take profit is duly recommended.
- If the forex-sunrise-indicator line turns blue during the course of a bearish trend, it is an alert that price is making a probable bullish reversal, therefore a trigger to exit or take profit without delay.
Sell Trade Example
About The Trading Indicators
The ahoora-oscillator.ex4 is an oscillator that combines the exponential moving average (EMA), relative strength index (RSI), and average true range (ATR) indicator to offer a simple trend signal.
The forex_sunrise_indicator.ex4 is an adaptable technical study that is based on the moving average and triggers buy/sell alerts in line with calculations that are based on support and resistance.