METRO is a simple currency trading strategy that combines the simplicity and competence of the METRO and the Urovny custom indicators. The strategy is designed to yield precise and profitable trading signals.
Chart Setup
MetaTrader4 Indicators: METRO.ex4 (default setting), Urovny.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hour, Day
Recommended Trading Sessions: Any
Currency Pairs: USD/CHF, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, NZD/USD, EUR/CHF, CAD/JPY, CHF/JPY, AUD/NZD, USD/CHF
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy in the market if the following rule or conditions are true:
- If price bars are aligned or trading above the lines (red & green yellow) of the Urovny.ex4 custom indicator, price is said to be pushed higher i.e. a trigger to go long.
- If the lines (orange, sky blue & magenta) of the METRO custom indicator hover above the 50.00 signal level, price is said to be pressured higher i.e. a buy signal.
Stop Loss for Buy Entry: Place stop loss below immediate support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the following chart or indicator patterns get displayed:
- If price closes below the red line of the Urovny.ex4 custom indicator, it is a signal of price reversal or the likelihood that bears are beginning to take the day, an exit or take profit is highly advised.
- If any of the lines (orange, sky blue & magenta) of the METRO custom indicator declines to break below the 50.00 signal level as shown on Fig. 1.0 (in this case the orange and sky blue lines did break below the 50.00 alert level), an exit or take profit is advised.
Sell Entry Rules
Initiate a sell entry if the following holds true:
- If price bars are aligned or trading below the lines (red & green yellow) of the Urovny.ex4 custom indicator as depicted on Fig. 1.1, price is said to be pushed lower i.e. a trigger to go short.
- If the lines (orange, sky blue & magenta) of the METRO custom indicator hover below the 50.00 signal level as seen on Fig. 1.1, the market sentiment is said to be bearish i.e. a signal to go short.
Stop Loss for Sell Entry: Place stop loss above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on short position(s) if the following conditions holds true:
- If price closes below the green yellow line of the Urovny.ex4 custom indicator, it is a signal of price reversal or the likelihood that bulls are gaining strength, an exit or take profit is very much advised.
- If any of the lines (orange, sky blue & magenta) of the METRO custom indicator rises to break above the 50.00 signal level as shown on Fig. 1.1 (in this case the orange line went in first above the 50.00 level), an exit or take profit is advised.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The METRO.ex4 custom indicator is an oscillator that shows it values in relation to the RSI (Relative Strength Index) technical indicator. The RSI indicator is displayed in orange color.
The Urovny.ex4 custom indicator is an indicator that appears as a double line (red and green yellow), usually acting as support or resistance to price, depending on how it is aligned in relation to price (above or below).