Buy And Sell Forex Strategy For Metatrader 5
Forex trading entails the elimination of losing trades and accumulation of more winning trades.
We have designed the Buy and Sell Forex strategy for Metatrader 5, a proven forex strategy that works for long-term profits .
It’s composed of a set of simple, yet effective trading rules that help you make more pips easily on any pair of your preference.
Lets check out the enclosed examples to better understand how best to approach this system.
MetaTrader 5 Indicators: Triple Exponential Average.ex5 (Parameters Modified; Period=18), Bollinger bands squeeze.ex5 (Inputs Variable Modified; BB and Keltner period=32)
Trade Style: Scalping, day trading, swing trading
Trading Sessions: London | New York | Tokyo
Currency Pairs: Majors, cross pairs, exotics
Platform: Metatrader 5 (MT5)
Buy Trade Example: EURJPY, H1 Chart
Trading Strategy Rules For Buy and Sell Trades Explained
- If the red line of the Triple Exponential Average Metatrader 5 forex indicator breaksand hovers above the 0.00 horizontal level as shown on Fig. 1.0, price is said to be pressured higher i.e. a trigger to buy the designated currency pair.
- If the middle line of the Bollinger bands squeeze custom indicator turns lime green as illustrated on Fig. 1.0, the overall market sentiment is said to be bullish, therefore a buy signal is said to be imminent.
Suggested Stop Loss for Buy Entry: Place stop loss below immediate support.
Suggested Exit Strategy/Take Profit for Buy Trade
Exit the buy trade if the following trading conditions are met:
- If while a bullish trend is ongoing, the red line of the Triple Exponential Average forex indicator dips below the 0.00 horizontal level, a bearish reversal is said to be looming, thus an exit or take profit is recommended.
- If the middle line of the Bollinger bands squeeze custom indicator revertsto orange during the course of a bullish signal, more and more bulls are said to be closing their position, as such an exit or take profit is advised.
Open a sell trade if the following trading conditions are met:
- If the red line of the Triple Exponential Average forex indicator breaksand hovers below the 0.00 horizontal level as illustrated on Fig. 1.1, price is said to be dragged lower i.e. a trigger to sell the currency pair of focus.
- If the middle line of the Bollinger bands squeeze custom indicator turns orange as exemplified on Fig. 1.1, the general market sentiment is said to be bearish, therefore a sell signal is said to be in the cards.
Suggested Stop Loss for Sell Entry: Place stop loss above immediate resistance.
Suggested Exit Strategy/Take Profit for Sell Entry
- If while a bearish trend is running, the red line of the Triple Exponential Average custom indicator surges above the 0.00 horizontal signal level, a bullish reversal is said to be coming up, thus an exit or take profit stance will suffice.
- If the middle line of the Bollinger bands squeeze custom indicator changes to lime green while a bearish trend is on course (see Fig. 1.1), bears are said to be increasingly closing their market orders, as such an exit or take profit stance will do.
Sell Trade Example: EURJPY, H1 Chart
MT5 Trading Indicators Used For This Strategy
The Triple Exponential Moving Average, also known as Trix is a Metatrader 5 momentum indicator.
It was developed by Jack Hutson in the 1980’s and finds its use in the spotting of percentage change in a triple exponentially smoothed moving average.
The Bollinger bands squeeze Metatrader 5 forex indicator is used to determine the periods of “no entry” and probable trends by combining the Keltner and Bollinger bands.
The squeeze occurs when the Bollinger bands are within the Keltner channel.