High Win Forex Strategy For Day Trading

The high win Forex strategy for day trading is designed to capitalize on the best intra-day price movements with the help of the popular ADX indicator.

We have carefully incorporated a breakout component to allow us quickly identify sessions of market spikes.

The use of the ADX indicator within the system, is to ensure that we are in tune with trending market states, as well as its directional element.

Beginners can readily use this system due to the simplicity of the indicator patterns.

Chart Setup

MetaTrader 4 Indicators: breakout-zones.ex4 (Default Setting), SwingMan-UltraSuperTRIX_PV_4col.ex4 (Inputs Variable Modified; TRIX_Period=12, CountBars=10000), Average Directional Movement Index.ex4 (Parameters Modified; period=28)

Preferred Time Frame(s): 5-Minute, 15-Minute, 30-Minute, 1-Hour

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example: EUR/USD (Euro / US Dollar), M15 Chart

Fig. 1.0

Strategy

Long Entry Rules

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

  • If price surges and trades above the upper boundary of the breakout-zones custom indicator,as shown on Fig. 1.0, price is said to be driven to the upside, as such a buy alert is said to be imminent.
  • If the SwingMan-UltraSuperTRIX_PV_4col custom indicator displays a deep sky blue upward pointing arrow along with histograms (yellow green & green) that hovers above the 0.00 reference level,as seen on Fig. 1.0, it is a signal to go long on the designated currency pair.
  • If the light sea green ADX line breaks above the 20.00 signal levelwhile the yellow green DI+ line runs above the wheat DI- line (refer to Fig. 1.0), bulls are said to be driving price higher, thus a buy alert is appropriate.

Stop Loss for Buy Entry: Place stop loss below the previous swing low price level.

Exit Strategy/Take Profit for Buy Entry

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

  • If price breaks below the lower boundary of the breakout-zones indicator while a bullish trend is ongoing, bulls power is said to be weaning, therefore an exit or take profit stance will suffice.
  • If the SwingMan-UltraSuperTRIX_PV_4col custom indicator pops up a red downward pointing arrow during the course of a bullish trend, it is pointing to diminishing bulls power, hence a trigger to exit or take profit forthwith.
  • If the light sea green ADX line drops below the 20 horizontal level or the wheat DI- line crosses above the yellow green DI+ line during a bullish trend (see Fig. 1.0), it is a trigger to exit or take profit at once.

Sell Entry Rules

Enter a sell order if the following holds true:

  • If price surges and trades below the lower boundary of the breakout-zones custom indicator as depicted on Fig. 1.1, price is said to be dragged lower, as such a sell alert is said to be looming.
  • If the SwingMan-UltraSuperTRIX_PV_4col custom indicator displays a red downward pointing arrow along with histograms (maroon & tomato) that hovers below the 0.00 horizontal level,as illustrated on Fig. 1.1, it is a signal to go short on the currency pair of focus.
  • If the light sea green ADX line breaks above the 20.00 signal levelwhile the wheat DI- line hovers above the yellow green DI+ line (check Fig. 1.1), bears are said to be driving price lower, thus a trigger to go short on the selected currency pair.

Stop Loss for Sell Entry: Place stop loss above the previous swing high price level.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  • If price breaks above the upper boundary of the breakout-zones indicator during the course of a bearish trend, bears power is said to be halting, therefore an exit or take profit stance is advised.
  • If the SwingMan-UltraSuperTRIX_PV_4col custom indicator pops up a deep sky blue upward pointing arrow while a bearish trend is ongoing, it is signaling a likely bullish reversal, thus a trigger to exit or take profit at once.
  • If the light sea green ADX line drops below the 20 horizontal level or the yellow green DI+ line gets aligned above the wheat DI- line during a bearish trend as exemplified on Fig.1.1, it is a trigger to exit or take profit straightway.

Sell Trade Example: EUR/USD (Euro / US Dollar), M15 Chart

Fig. 1.1

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About The Forex Technical Indicators Used

The breakout-zones is a technical indicator that forms support and resistance trading regions.

The SwingMan-UltraSuperTRIX_PV_4col indicator is an oscillator that deploys a gray line, arrows and histograms, all wrapped within its window for the purpose of defining trends.

The Average Directional Index of ADX is a forex indicator that is deployed in determining the strength of a trend.

Easy Installation

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

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