The MA Trading Signals forex strategy offers traders a new perspective to which they can understand scalping, one which allows you enter and exit the market for rapid trading profits.
You stand to get the best off this trading strategy when on use with the 1-Minute, 5-Minute and 15-Minute charts.
Chart Setup
MetaTrader4 Indicators: MATradingSignals.ex4 (default setting), MKNC_4.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute
Recommended Trading Sessions: Any (London, New York, Tokyo)
Currency Pairs: Any low spread pair (maximum 4 pips)
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Download the MA Trading Signals Forex Trading Strategy
Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy in the market if the following rules or conditions are in place:
- If the blue dotted line of the MKNC_4 custom indicator breaks above the 0.00 signal level as shown on Fig. 1.0, price is said to be pushed higher i.e. a trigger to go long on the pair of interest.
- If a lime green upward pointing arrow of the MATradingSignals.ex4 custom indicator forms below the candlesticks as depicted on Fig. 1.0, price is said to be bullish i.e. a signal to buy.
Stop Loss for Buy Entry: Place stop loss below immediate support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on if the following chart or indicator pattern gets displayed:
- If the blue dotted line of the MKNC_4 custom indicator crosses its red dotted line top downward during an uptrend, price is said to be entering a reversal i.e. an exit or take profit is advised.
- If a red downward pointing arrow of the MATradingSignals.ex4 custom indicator forms above the price bars as seen on Fig. 1.0, price is said to be losing its bullish momentum, as such an exit or take profit is recommended.
Sell Entry Rules
Enter a sell in the market if the following rules or conditions are in place:
- If the blue dotted line of the MKNC_4 custom indicator breaks below the 0.00 signal level as shown on Fig. 1.1, price is said to be pressured lower i.e. a trigger to sell the asset of interest.
- If a red downward pointing arrow of the MATradingSignals.ex4 custom indicator forms above the price bars as seen on Fig. 1.1, the market sentiment I said to be bearish i.e. a signal to sell.
Stop Loss for Sell Entry: Place stop loss above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following chart or indicator pattern holds sway:
- If the blue dotted line of the MKNC_4 custom indicator crosses its red dotted line bottom up during a downtrend, price is said to be retreating from its earlier trend i.e. an exit or take profit is advised.
- If a lime green upward pointing arrow of the MATradingSignals.ex4 custom indicator forms below the price bars as shown on Fig. 1.1, an exit or take profit is recommended.
Fig. 1.1
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Download the MA Trading Signals Forex Trading Strategy
About The Trading Indicators
The MKNC_4.ex4 indicator offer signals by clearly deploying its blue and red dotted lines.
If the blue dotted lies over the red dotted line, it is a bullish signal, while a sell signal is in place when the red dotted line overlaps on top of the blue dotted line.
The MATradingSignals.ex4 is a moving average indicator that sets its fast MA period and slow MA period at 6 and 8 respectively.
It deploys a lime green upward pointing arrow and red downward pointing arrow to depict buy and sell signal respectively.