Easy Forex Strategy For Metatrader 5

The Easy Forex Strategy for Metatrader 5 is a simple strategy that offers a perfect indicator mix for currency traders who seek to trade profitable in the long run.

Your MT5 trading chart will significantly get enhanced due to the unique set of indicators being deployed, which enables users to compare and contrast diverse currency pairs.

You can get along with your day to day activities, while enjoying the window of opportunity that our trading strategy offers.

Our goal is to explain this strategy in a manner that allows just about anyone the flexibility to trade comfortably and profitably.

Trade Setup 

MetaTrader 5 Indicators: DeMarker.ex5 (Parameters Modified; Period=28), Hurst_Oscillator.ex5 (Inputs Variable Modified; Period=20, Smoothing=2), iheikenashism.ex5 (Inputs Variable Modified; Variant=Price, MAPeriod=14, MAMethod=Exponential, SmPeriod=6)

Trade Style: Scalping, day trading, swing trading

Trading Sessions: London | New York | Tokyo

Currency Pairs: Majors, cross pairs, exotics

Platform: Metatrader 5 (MT5)

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Buy Trade Example: EURCAD, H1 Chart

Fig. 1.0

Trading Strategy Rules For Buy and Sell Trades Explained

Buy Entry

Enter a buy trade if the following trading conditions are met:

  1. If the light sea green line of the DeMarker Metatrader 5 forex indicator breaksand hovers above the 0.50 horizontal level (see Fig. 1.0), price is said to be driven to the upside i.e. a trigger to go long on the designated currency pair.
  2. Watch out for the forest green line of the Hurst_Oscillator custom indicator breaking above the 0.00 signal level (refer to Fig. 1.0), if this stands true, then it is pointing to upward price pressures.
  3. If the iheikenashism forex indicator pops up dodger blue price bars on the activity chart as shown on Fig. 1.0, it is pointing to increased bulls power, as such a buy trigger will suffice.

Suggested Stop Loss for Buy Entry: Place stop loss below support.

Suggested Exit Strategy/Take Profit for Buy Trade

Exit the buy trade if the following trading conditions are met:

  1. If while a bullish trend is ongoing, the light sea green line of the DeMarker custom indicator dips below the 0.50 alert level, it is signaling a likely end in bullish pressures, as such an exit or take profit stance should be considered.
  2. If the forest green line of the Hurst_Oscillator custom indicator dips below the 0.00 alert level during the course of a bullish trend as illustrated on Fig. 1.0, price is said to be making a probable U-turn, therefore an exit or take profit is advised.
  3. If the iheikenashism forex indicator displays a red price bar while a bullish trend is running (checkout Fig. 1.0), bulls are said to be leaving the market in their droves, and as such it is advisable to exit or take profit at once.

Sell Entry

Open a sell trade if the following trading conditions are met:

  1. If the light sea green line of the DeMarker indicator dipsand hovers below the 0.50 horizontal level as shown on Fig. 1.1, price is said to be pushed to the downside i.e. a trigger to go short on the selected fx pair.
  2. If the forest green line of the Hurst_Oscillator custom indicator surges below the 0.00 signal level as depicted on Fig. 1.1, this is an indication that bears are in control of things, therefore a sell alert will do.
  3. If the iheikenashism forex indicator pops up red price bars on the activity chart as exemplified on Fig. 1.1, it points to diminishing bulls power, thus a trigger to sell the currency pair of focus.

Suggested Stop Loss for Sell Entry: Place stop loss above resistance.

Suggested Exit Strategy/Take Profit for Sell Entry

Exit the sell trade if the following trading conditions are met:

  1. If during a bearish trend, the light sea green line of the DeMarker custom indicator breaks above the 0.50 signal level as seen on Fig. 1.1, it points to a likely bullish reversal, therefore an exit or take profit is duly recommended.
  2. If the forest green line of the Hurst_Oscillator custom indicator rises above the 0.00 alert level while a bearish trend is running, a bullish reversal is said to be looming, therefore an exit or take profit will suffice.
  3. If the iheikenashism forex indicator displays a dodger blue price bar while a bearish trend is ongoing as illustrated on Fig. 1.1, bears power is said to be weaning, and as such it is worthwhile to exit or take profit forthwith.

Sell Trade Example: EURCAD, H1 Chart

Fig. 1.1

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MT5 Trading Indicators Used For This Strategy

The DeMarker indicator is an oscillator designed by Tom Demark that also finds use when traders are trying to determine potential overbought and oversold regions in the market.

The Hurst_Oscillator is a technical indicator that was first described in Jim Hurt’s “The Magic of Stock Transaction Timing” book.

It can be used as a trend and a divergence tool.

The iheikenashism forex indicator is a variant of the Japanese candlesticks trading strategy that is used in conjunction with candlestick charts to determine market trends and forecast future price.

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