The ArrowsandCurves.ex4 indicator is a trend-following indicator which is able to follow the trend of the asset and point out areas where traders can buy and sell within current the trend.
For this strategy, the indicator must be combined with an oscillator to filter the signals.
- MetaTrader4 Indicators: ArrowsandCurves.ex4 indicator (default settings). The second indicator is the MAAngle.ex4 indicator (default settings).
- Preferred Time Frame(s): any
- Recommended Trading Sessions: Any time. Depends on when the indicator signal appears on the chart.
- Currency Pairs: any
Buy Trade Example (click the image for full size):
The strategy is to use the MAAngle.ex4 indicator to filter out the signals made by the Arrows and Curves indicator. These signals are pointed out by direction arrows (red for sell and blue for buy).
However, not all the arrow signals are accurate. Therefore, you only trade the arrow signals which are given confirmation by the MAAngle.ex4 indicator.
LONG ENTRY RULES
A long position is initiated when the following is displayed on the chart:
- The MAAngle.ex4 indicator bars are green. Ideally, the bars must have recently crossed the zero line.
- When the bars are green, enter long when the blue indicator arrow appears.
Stop Loss for Long Entry:
Place the SL at a few pips below the low price of the preceding candle.
Exit Strategy/Take Profit for Long Entry:
- The take profit is used dynamically. The trade should only be allowed to open for 2 candles before it is closed manually. So the TP is at the close of the 2nd candle following the entry candle.
SHORT ENTRY RULES
To initiate a short entry, trade as follows:
- Allow the MAAngle.ex4 indicator to show red bars. The best signals are obtained when the indicator has recently crossed the zero line from positive to negative.
- Enter short when the red signal arrow appears.
Stop Loss for Short Entry:
Set the stop loss to a few pips above the preceding candle.
Exit Strategy/Take Profit for Short Entry:
- The take profit is set at the close of the 2nd candle following the entry candle. Usually the trader should look at the clock and aim to end the trade 8 hours after entry, since this is the time it takes to for the trade to get to conclusion.
About The Trading Indicators
The ArrowandCurves.ex4 indicator as well as the MA_BBands.ex4 indicator work synergistically. They must be used together as they cannot produce reliable signals when used individually.