ATR Forex Signals is a simple trend-following system designed to collect more pips in trending markets.
Signals from this system are easy to follow for any trade style, including, scalping, day trading and swing trading.
Let me show you below how to pinpoint market entries and exits with the ATR Forex Signals system!
MetaTrader 4 Indicators: chande-kroll-stop.ex4 (Inputs Variable Modified; Length=12, ATRPeriod=16, Kv=2.0), tsv-bullish-bearish.ex4 (Inputs Variable Modified; period=20, CountBars=30000)
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 red line of the chande-kroll-stop Metatrader 4 forex indicator intersects its blue line in a bottom up manner as depicted on Fig. 1.0, the general market sentiment is said to be bullish i.e. a trigger to go long on the designated currency pair.
- If the blue vertical bars of the tsv-bullish-bearish custom indicator gets displayed within its window as illustrated on Fig. 1.0, price is said to be driven higher, therefore a buy alert is said to be looming.
Stop Loss for Buy Entry: Place stop loss 2-5 pips below 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 red line of the chande-kroll-stop forex indicator crosses its blue line while a bullish trend is said to be ongoing, more and more bulls are said to be closing their positions, thus an exit or take profit stance will suffice.
- If the tsv-bullish-bearish indicator displays a red vertical bar within its window during the course of a bullish signal, it is indicative of weaning bulls power, as such an exit or take profit is recommended.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the blue line of the chande-kroll-stop forex indicator crosses its red line in a top downward fashion as exemplified on Fig. 1.1, the overall market sentiment is said to be bearish i.e. a trigger to go short on the selected forex pair.
- If the red vertical bars of the tsv-bullish-bearish forex indicator gets displayed within its window as shown on Fig. 1.1, price is said to be pushed increasingly lower, therefore a sell alert is said to be on the horizon.
Stop Loss for Sell Entry: Place stop loss 2-5 pips above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the blue line of the chande-kroll-stop forex indicator crosses its red line during a bearish trend, a growing number of bears are said to be leaving the market, thus an exit or take profit stance will do.
- If the tsv-bullish-bearish indicator displays a blue vertical bar within its window while a bearish trend is running, it is pointing to halting bears power, as such an exit or take profit is duly advised.
Sell Trade Example
About The Trading Indicators
The chande-kroll-stop custom indicator is a trend-following indicator that pinpoints the stop loss for a long or short position by using a variation on directional movement.
The tsv-bullish-bearish is an MT4 forex indicator that comes in the form of vertical bars that are painted red or blue.
The observed colors of the histograms are used to define the plausible market trend for any forex pair.