Momentum Oscillator Forex Signals Strategy
Have you ever thought of how professional traders are able to ride big trends?
These are trends that tend to keep moving higher and your profits keeps pilling.
Well, the secret lays in getting a trusted, custom-made, consistent and a well-planned trading strategy.
The Momentum Oscillator Forex Signals strategy allows you watch your trades turn into big wins as price moves in your favor.
The setup and trade procedure is simple and just about anyone can get it done.
MetaTrader4 Indicators: chandes-momentum-oscillator.ex4 (Inputs Variable Modified; CMO_Range=28), ttm-trend.ex4 (Inputs Variable Modified; CompBars=24, Colors Width Modified; #0=4, #1=4)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the red line of the chandes-momentum-oscillator Metatrader 4 forex indicator breaksand hovers above the 0.00 horizontal level as depicted on Fig. 1.0, price is said to be pressured to the upside i.e. a trigger to go long on the designated currency pair.
- If the ttm-trend custom indicator displays blue bars that superimposes the candlestick as shown on Fig. 1.0, the general market sentiment is said to be bullish i.e. a trigger to go long on the stipulated forex pair of focus.
Stop Loss for Buy Entry: Place stop loss 3 pips below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If while a bullish trend is ongoing, the red line of the chandes-momentum-oscillator custom indicator dips below the 0.00 horizontal level as seen on Fig. 1.0, bulls are said to be closing their positions increasingly, therefore an exit or take profit is recommended.
- If the ttm-trend forex indicator pops up a red bar on the price chart during a bullish signal (see Fig. 1.0), a bearish reversal is said to be underway, as such an exit or take profit is advised.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the red line of the chandes-momentum-oscillator forex indicator breaksand hovers below the 0.00 horizontal level as illustrated on Fig. 1.1, price is said to be dragged lower i.e. a trigger to go short on the currency pair of interest.
- If the ttm-trend custom indicator displays red bars that lay over the candlestick as exemplified on Fig. 1.1, the overall market sentiment is said to be bearish, therefore a sell alert is said to be imminent.
Stop Loss for Sell Entry: Place stop loss 3 pips above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the red line of the chandes-momentum-oscillator custom indicator breaks above the 0.00 horizontal alert level, more and more bears are said to be leaving the market, therefore it is a signal to exit or take profit at once.
- If the ttm-trend forex indicator pops up a blue bar on the price chart while a bearish signal is ongoing (refer to Fig. 1.1), a bullish reversal is said to be on the horizon, as such an exit or take profit stance will suffice.
Sell Trade Example
About The Trading Indicators
The chandes-momentum-oscillator is a technical momentum indicator invented by Tunshar Chande to gauge overbought and oversold market conditions.
It can also be used to confirm signals when it crosses above or below the zero line.
The ttm-trend is a technical indicator that uses values of Heiken Ashi Open and its corresponding Close for a selected period.
TTM is short for “Trade The Markets,” and the indicator is known to offer traders a unique and easier way to view price.