The Cynthia’s TBar forex trading strategy is a trading system that combine the cleverness of the TSI-Osc.ex4, Cynthia’s_Trend_Bars.ex4 and Custom Moving Averages custom indicators in delivering intraday trading alerts.
Chart Setup
MetaTrader4 Indicators: TSI-Osc.ex4 (default setting), Cynthia’s_Trend_Bars.ex4 (default setting), Custom Moving Averages.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily
Recommended Trading Sessions: London/New York/Asia
Currency Pairs: All pairs
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy entry when the following rules or conditions are in place:
- If the dark green Cynthia’s_Trend_Bars.ex4 forms and subsequently opens and closes above the red line of the Custom Moving Averages indicator, it is a signal to go long.
- If the red line of the TSI-Osc.ex4 custom indicator breaks above the 0.00 signal, it is a trigger to enter a buy position.
Stop Loss for Buy Entry: Place stop loss below the red custom moving averages line or support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the following chart or indicator pattern(s) are on display:
- If the Cynthia’s_Trend_Bars.ex4 color changes to purple, and subsequently closes below the red line of the Custom Moving Averages indicator, it is a trigger to exit or take profit accordingly.
- If the red line of the TSI-Osc.ex4 custom indicator dips below the 0.00 signal, it is a trigger to exit existing position(s).
Sell Entry Rules
Place a sell order in the market if the following rules hold sway:
- If the purple Cynthia’s_Trend_Bars.ex4 forms and subsequently opens and closes below the red line of the Custom Moving Averages indicator, it is a signal to go short on your pair of interest.
- If the red line of the TSI-Osc.ex4 custom indicator breaks below the 0.00 signal, it is a trigger to go short i.e. a sell entry.
Stop Loss for Sell Entry: Place stop loss above the red custom moving averages line or resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on position(s) if the following are true:
- If the Cynthia’s_Trend_Bars.ex4 color changes to dark green and further closes above the red line of the Custom Moving Averages indicator, it is a trigger to exit or take profit accordingly.
- If the red line of the TSI-Osc.ex4 custom indicator dips above the 0.00 signal, it is a trigger to exit or take profit on existing position(s).
Sell Trade Example
Fig. 1.1
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About The Trading Indicators
The TSI-Osc.ex4 indicator for MetaTrader4 is also known as the True Strength Index oscillator and has remained quite popular among currency traders.
William Blau designed the True Strength Index oscillator in 1991 and has since been used to spot trend, along with overbought-oversold zones, which can be implied to intraday timeframes as well as longer-term outlook.
The Cynthia’s_Trend_Bars.ex4 is a custom indicator that uses special color coded bar to replace price bar. The dark green coded bar depicts a bullish signal, while the purple coded bar portrays a bearish signal.
Finally, the Custom Moving Averages indicator is used to spot the direction of trend or it can also be deployed in defining possible levels of support and resistance.
This indicator is supported on all timeframes, as such traders can use it on any strategy of their choice.