The FT forex signals forex trading strategy is an FX scalping strategy that allows traders profit from a wide range of assets in the currency market. The strategy combines two simple to use trading indictors in delivering accurate signals.
Chart Setup
MetaTrader4 Indicators: Forex_Trend_Signalsv1.ex4 (default setting), forex-mt4-trend-indicator.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes
Recommended Trading Sessions: Any
Currency Pairs: majors, FX cross pairs
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Download the FT Forex Signals Trading Strategy
Buy Trade Example (Click the picture for full size view)
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy if the following chart or indicator patterns are in display:
- Watch for Lime colored vertical bars within the Forex_Trend_Signalsv1 custom indicator window, as it signals a buy in the market for instrument in focus.
- If the forex-mt4-trend-indicator custom indicator forms a blue upward pointing arrow along with candle-like bodies below price bars, it suggests an upward price pressure i.e. a bullish signal.
Stop Loss for Buy Entry: Place stop loss ~ 5 – 15 pips below entry price.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the following conditions or rules are met:
- If the lime colored vertical bars of the Forex_Trend_Signalsv1 custom indicator turns yellow, it is indicative of a range bound market, which would give way to a possible breakout, as such it is appropriate to exit on position(s).
- Watch the forex-mt4-trend-indicator custom indicator for red downward pointing arrow along with candle-like bodies aligned above price bars, this signals that price is pushing downwards.
Sell Entry Rules
Place a sell order if the following rules or conditions holds true:
- If the Forex_Trend_Signalsv1 custom indicator forms red vertical bars within its window, it is indicative of a sell in the market.
- If the forex-mt4-trend-indicator custom indicator forms red downward pointing arrows along with candle-like bodies aligned above price bars, it is a signal of downward price pressures i.e. a sell signal.
Stop Loss for Sell Entry: Place stop loss ~ 5 – 15 pips above entry price.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on position(s) if the following chart or indicator patterns are in display:
- If the Forex_Trend_Signalsv1 custom indicator red vertical bars turns yellow, then it will be appropriate to exit or take profit on position(s) entered.
- Refer to Fig. 1.1, if during an active bearish trend, the forex-mt4-trend-indicator custom indicator forms a blue upward pointing arrow and candle-like bodies below price bars, then it’ll be okay to exit or take profit appropriately.
Fig. 1.1
Free Download
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About The Trading Indicators
The Forex_Trend_Signalsv1.ex4 custom indicator is made up of two moving averages and the CCI MT4 indicator period set at 236.
The green colored vertical bars within the chart window indicates a bullish trend, the red vertical indicates a bearish trend and the yellow bars shows range-bound trend.
Finally, the forex-mt4-trend-indicator.ex4 is a trend indicator just as depicted in its name, with its red arrows signifying a sell, while its blue arrows connotes a buy signal.