Some traders in the forex market are known to exhibit extreme patience, allowing time to wait for the perfect trade setup, while we have others who need to see market moves occur quickly.
It is for those impatient souls that the M1 Trading Signals Forex system is designed for…
The strategy trades off the 1-minute forex charts, so there will be plenty of tradable signals on a daily basis.
The M1 trading signals forex system is a momentum scalping strategy that has the ability to ride as much of the short-term scalper trend as possible, with solid exit rules designed to safeguard profits as well.
MetaTrader 4 Indicators: 60-second-trading-signals.ex4 (Inputs Variable Modified; ADXbars.ex4=28, CountBars=350000000, Colors Width Modified; #0=4, #1=4), phase-accumulation-macd.ex4 (Default Setting)
Preferred Time Frame(s): 1-Minute, 5-Minute (optional)
Recommended Trading Sessions: London, New York, Tokyo
Currency Pairs: Any low spread forex pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the lime signal ball of the 60-second-trading-signals Metatrader 4 forex indicator pops up on the activity chart as depicted on Fig. 1.0, price is said to be driven higher i.e. a trigger to go long on the designated currency pair.
- If the dim gray line along with the deep sky blue histograms of the phase-accumulation-macd indicator aligns above the 0.00 signal level as exemplified on Fig. 1.0, the overall market sentiment is said to be bullish, hence a trigger to go long on the selected fx pair.
Stop Loss for Buy Entry: Place stop loss 1-3 pips below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If the 60-second-trading-signals indicator pops up a red signal ball on the price chart while a bullish trend is ongoing, bulls power is said to be weaning, as such an exit or take profit will do.
- If the dim gray line of the phase-accumulation-macd indicator dips below the 0.00 level during a bullish signal, it is indicative of diminishing bulls power, as such an exit or take profit will suffice.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the red signal ball of the 60-second-trading-signals indicator snaps up on the price chart as shown on Fig. 1.1, price is said to be pushed lower i.e. a trigger to go short on the currency pair of interest.
- If the dim gray line along with the sandy brown histograms of the phase-accumulation-macd indicator aligns below the 0.00 reference level as represented on Fig. 1.1, the general market sentiment is said to be bearish, hence a trigger to go short on the currency pair of focus.
Stop Loss for Sell Entry: Place stop loss 1-3 pips above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the 60-second-trading-signals indicator pops up a lime signal ball on the activity chart during a bearish trend, more bears are said to be closing their positions, as such an exit or take profit will do.
- If the dim gray line of the phase-accumulation-macd indicator rises above the 0.00 level during a bearish signal, it is indicative of diminishing bears power, as such a trigger to exit or take profit forthwith.
Sell Trade Example
About The Trading Indicators
The 60-second-trading-signals.ex4 indicator is a simple signal technical tool that is built on the ADX indicator.
It displays lime (bullish) and red (bearish) dots below and above the candlesticks respectively.
The phase-accumulation-macd.ex4 indicator is a momentum oscillator indicator that scans the market for trends.