Figurelli Series Forex Trading Strategy

The Figurelli Series forex trading strategy allows traders to scalp and daytrade the market anytime during the day’s trading session without much hassles.

It gives you the opportunity to you to scalp and daytade the market using basic indicators on low spread currency pairs.

Chart Setup

MetaTrader4 Indicators: Figurelli Series.ex4 (default setting), forex_sunrise_indicator.ex4 (width modified; 2)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute

Recommended Trading Sessions: Any session

Currency Pairs: Every pair except exotic pairs

Download

Download the Figurelli Series Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy in the market if the following indicator or chart patter gets displayed:

  1. If the forex_sunrise_indicator.ex4 custom indicator forms a blue line that is aligned below price bars as shown on Fig.1.0, price is said to be experiencing some upward pressures i.e. a buy signal for the pair of interest.
  2. If the Figurelli Series.ex4 custom indicator displays red histograms that breaks out above the 0.00 level as depicted on Fig. 1.0, price is said to be enjoying bullish momentum i.e. a trigger to go long on the currency pair of focus.

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions hold sway in the market:

  1. If the forex_sunrise_indicator.ex4 custom indicator forms a deep pink line that is aligned above the candlestick during a bullish trend, price is said to be experiencing weaning buy pressures as such an exit or take profit is recommended.
  2. If the Figurelli Series.ex4 custom indicator realigns its red histograms during an uptrend and forms below the 0.00 signal level, it is an indication of halting buy pressures i.e. a trigger to exit or take profit without delay.

Sell Entry Rules

Enter a sell if the following chart of indicator pattern shows up on the trading chart:

  1. If the forex_sunrise_indicator.ex4 custom indicator forms a dark pink line that is placed above the candlesticks as depicted on Fig.1.1, price is said to be experiencing some downward pressures i.e. a sell trigger for the pair of interest.
  2. If the Figurelli Series.ex4 custom indicator displays red histograms that aligns below the 0.00 level as shown on Fig. 1.1, price is said to be experiencing bearish momentum i.e. a trigger to go short on the asset of interest.

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit in line with the following rules or conditions:

  1. If the forex_sunrise_indicator.ex4 custom indicator forms a blue that shows up below price bars during a bearish trend, it is a signal for a reversal as such an exit or take profit is highly advised.
  2. If the Figurelli Series.ex4 custom indicator realigns its red histograms during a downtrend and aligns above the 0.00 signal level, it is a trigger to exit or take profit at once.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The Figurelli Series.ex4 indicator defines varied moving average series in search of divergences.

The trend is gauged and displayed in line with the divergences within these defined moving average series.

The forex_sunrise_indicator.ex4 is an adaptable technical study that is based on the moving average and triggers buy/sell alerts in line calculations that are based on support and resistance.

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