Bar Trend Forex Trading Strategy

The Bar Trend forex trading strategy is a simple trading strategy that is designed to stick to the overall market trend, thereby delivering profitable trade signals.

It is an easy strategy to adopt, thanks to its use of two very critical technical indicators i.e. the (T_S_R)-Bar Trend and (T_S_R)-Big Trend custom indicator.

Chart Setup

MetaTrader4 Indicators: (T_S_R)-Bar Trend.ex4 (default setting), (T_S_R)-Big Trend.ex4 (default setting)

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

Recommended Trading Sessions: Any

Currency Pairs: All pairs (majors, crosses, exotics)

Download

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Buy Trade Example

Fig. 1.0

Long Entry Rules

Place a buy order if the following conditions or rules holds true:

  1. If the LightBlue ribbon of the (T_S_R)-Big Trend custom indicator forms below price bars, an indication that price is bullish i.e. a buy signal.
  2. If the DarkGreen candle of the (T_S_R)-Bar Trend custom indicator opens and closes above the LightBlue ribbon of the (T_S_R)-Big Trend custom indicator, it typifies a buy signal.

Stop Loss for Buy Entry: Place stop loss below the blue rising line or below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit on position(s) if the following conditions or rules are met:

  1. If the ribbon of the (T_S_R)-Big Trend custom indicator turns tomato, it is a trigger to exit or take profit accordingly.
  2. If the color of the (T_S_R)-Bar Trend custom indicator turns purple and closes below the line of the (T_S_R)-Big Trend custom indicator as shown on Fig. 1.0, an exit or take profit is advised.

Sell Entry Rules

Enter a sell order in the market if the following chart or indicator patterns hold sway:

  1. If the tomato ribbon of the (T_S_R)-Big Trend custom indicator forms above price bars, it signals to a bearish trend i.e. a sell signal.
  2. If the purple candle of the (T_S_R)-Bar Trend custom indicator opens and closes below the tomato ribbon of the (T_S_R)-Big Trend custom indicator, it is a signal to sell.

Stop Loss for Sell Entry: Place stop loss above the red falling line or above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit on order(s) if the following chart or indicator patterns are in display:

  1. If the ribbon of the (T_S_R)-Big Trend custom indicator turns LightBlue, it is a trigger to exit or take profit accordingly.
  2. If the color of the (T_S_R)-Bar Trend custom indicator turns DarkGreen and closes above the line of the (T_S_R)-Big Trend custom indicator as shown on Fig. 1.1, an exit or take profit is advised.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The (T_S_R)-Big Trend custom indicator is a trend following indicator that plots a tomato and light blue lines on the chart.

The light blue line typifies a bullish signal, while the tomato line denotes a sell signal.

It has a default setting of Period (80), Method (3) and Price (0).

The (T_S_R)-Bar Trend is a very effective Trend Slope Retracement indicator that paints the candlesticks purple (sell signal) and dark green (buy signal).

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