Forex Ninja Strategy

The truth about forex trading is that not every amazing strategy will work great under every market condition.

So it is important to know when it’s appropriate to apply a given strategy in line with a specific market condition.

It is key for traders to know the different market circumstances, and also knowing when to keep off and stay aside.

The Forex Ninja Strategy helps traders map out the right time to enter the currency market.

Seemingly, traders get to adopt a straightforward and an easy concept.

Just be patient as the trade setups develop and when you find a suitable entry, go for it.

Chart Setup

MetaTrader 4 Indicators: MA ribbon filled.89.21.ex4 (Inputs Variable Modified; MA1Period=50), LWMA-Crossover_Signal.ex4 (Inputs Variable Modified; FasterLWMA=25, SlowerLWMA=30, Colors Width Modified; #0=5, #=5), Relative Vigor Index.ex4 (Parameters Modified; Period=28)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day, 1-Week, 1-Month

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example: EUR/USD (EURO / US Dollar), H1 Chart

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern gets put on display:

  • If the red line of the MA ribbon filled.89.21 custom indicator crosses below the lime line, thereby forming a lime cloud below the price bars (see Fig. 1.0), price is said to be pushed to the upside i.e. a buy signal will suffice.
  • If the spring green upward pointing arrow of the LWMA-Crossover_Signal indicator pops up slightly below the candlesticks as shown on Fig. 1.0, the overall market sentiment is said to be bullish, as such a buy alert is apt.
  • If the green & red lines of the Relative Vigor Index Metatrader 4 forex indicator break and hover above the zero reference level as seen on Fig. 1.0, bulls are said to be driving market sentiments, as such a buy alert is fitting.

Stop Loss for Buy Entry: Set stop loss 3 pips below the red MA ribbon line.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  • If the red line of the MA ribbon filled.89.21 forex indicator crosses above the lime line during the course of a bullish trend, it is pointing to diminishing bulls power, therefore an exit or take profit stance is advised.
  • If the LWMA-Crossover_Signal custom indicator pops up a red downward pointing arrow while a bullish trend is running, bulls are said to be leaving the market increasingly, thus an exit or take profit stance will do.
  • If the green line of the Relative Vigor Index indicator falls below the zero signal level while a bullish trend is running, it is a trigger to exit or take profit immediately.

Sell Entry Rules

Enter a sell order if the following holds true:

  • If the red line of the MA ribbon filled.89.21 custom indicator crosses above the lime line, thus creating a red cloud above the candlesticks (refer to Fig. 1.1), price is said to be dragged lower i.e. a signal to go short on the selected forex pair.
  • If the red downward pointing arrow of the LWMA-Crossover_Signal indicator pops up somewhat above the candlesticks as depicted on Fig. 1.1, a sell alert is said to be looming.
  • If the green & red lines of the Relative Vigor Index forex indicator dipsand hovers below the zero horizontal level as exemplified on Fig. 1.1, bears are said to be driving market sentiments, thus a signal to sell the selected currency pair.

Stop Loss for Sell Entry: Set stop loss 3 pips above the red MA ribbon line.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  • If the red line of the MA ribbon filled.89.21 forex indicator crosses below the lime line while a bearish trend is running, it is signaling weaning bears power, therefore an exit or take profit stance is recommended.
  • If the LWMA-Crossover_Signal custom indicator pops up a spring green upward pointing arrow while a bearish trend is on course, bears power is said to be halting, thus an exit or take profit stance will suffice.
  • If the green line of the Relative Vigor Index indicator surges above the zero signal level while a bearish trend is running, it is a trigger to exit or take profit forthwith.

Sell Trade Example: EUR/USD (EURO / US Dollar), H1 Chart

Fig. 1.1

Free Download

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About The Forex Technical Indicators Used

The MA ribbon filled.89.21 is a custom indicator designed for the Metatrader 4 platform in line with the moving average formula.

The indicator offers a simple and quick way to determine the trend direction and possible price reversals.

The LWMA-Crossover_Signal is a weighted moving average that is computed by multiplying each one of the closing prices within the considered series, by a certain weight coefficient.

The Relative Vigor Index is a default Metatrader 4 forex indicator that is deployed in gauging the conviction of a recent price action and the probability that it will carry on.

Easy Installation

Start using this forex strategy in just 5 minutes. Click here to get started now.

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