The Brain Trend Signal Alerts Forex strategy is technical in nature and can be used by retail forex traders to determine accurate buy or sell market decisions.
Analyzing this strategy is quite simple using the resources that we have provided.
When pooled with appropriate risk management and a wide-ranging trading approach, our strategy can do wonders.
Our analysis is devoid of sentiments, as such traders stand to enjoy dampened risk when the market goes against the strategy’s forecast.
Please take note that this strategy can be tweaked in order to give a more personalized experience.
Let’s take you through the key rules of the Brain Trend Signal Alerts Forex Strategy.
MetaTrader4 Indicators: BrainTrendSignalAlerts (Default Setting), rsi-filter (Default Setting)
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 blue upward pointing arrow of the BrainTrendSignalAlerts Metatrader 4 forex indicator stays somewhat below the candlesticks as shown on Fig. 1.0, price is said to be pushed to the upside i.e. a trigger to go long on the designated forex pair.
- If the deep sky blue vertical bars of the rsi-filter custom indicator gets positioned above the 0.00 signal level (see Fig. 1.0), the general market sentiment is said to be bullish, and therefore a buy trigger will suffice.
Stop Loss for Buy Entry: Place stop loss 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 BrainTrendSignalAlerts custom indicator displays a red downward pointing arrow as exemplified on Fig. 1.0, more bulls are said to be leaving the market, therefore an exit or take profit is advised.
- If the rsi-filter indicator pops up a red vertical bar below the 0.00 level while a bullish trend is running, it is indicative of a weaning bulls power, thus an exit or take profit will do.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the red downward pointing arrow of the BrainTrendSignalAlerts forex indicator stays rather above the candlesticks as seen on Fig. 1.1, price is said to be dragged lower i.e. a trigger to go short on the selected fx pair.
- If the red vertical bars of the rsi-filter custom indicator gets positioned below the 0.00 signal level (refer to Fig. 1.1), the overall market sentiment is said to be bearish, thus a signal to sell the forex pair of interest.
Stop Loss for Sell Entry: Place stop loss above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the BrainTrendSignalAlerts custom indicator pops up a blue upward pointing arrow as illustrated on Fig. 1.1, more bears are said to be closing their trades, therefore an exit or take profit is recommended.
- If the rsi-filter indicator pops up a deep sky blue vertical bar above the 0.00 level during a bearish trend, it is indicative of a halting bears power, thus an exit or take profit stance is apt.
Sell Trade Example
About The Trading Indicators
The BrainTrendSignalAlerts custom indicator is a trend tool that allows traders monitor the market, while displaying server data on the activity window.
The rsi-filter is an oscillator that is built on the RSI indicator.
It offers traders clues on when the market is overbought or oversold along with promising trend directions.