The Pip Trend Forex strategy is designed to help traders legally steal pips from the market on a daily basis.
It’ll also show you where institutional traders are placing their bets.
By learning this strategy, you stand to make better scalping trades and equally earn more pips.
You can quickly distinguish between a strong trend and weaker one when using the Pip Trend Forex strategy.
This pip strategy is built to move in tandem with short-term price trends.
MetaTrader4 Indicators: alaskan-assasin-mod-indicator.ex4 (Inputs Variable Modified; CountBars=3000000), mega-trend-indicator.ex4 (Inputs Variable Modified; period=45)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes
Recommended Trading Sessions: London, New York, Tokyo
Currency Pairs: Majors and other low spread pairs
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 alaskan-assasin-mod-indicator crosses its blue line in a bottom up manner as depicted on Fig. 1.0, price is said to be driven higher i.e. a signal to go bullish on the selected currency pair.
- If the line of the mega-trend-indicator turns blue and stays slightly below the price bars (see Fig. 1.0), the overall market sentiment is said to be bullish, therefore traders are advised to go long on their desired forex pair.
Stop Loss for Buy Entry: Place stop loss 5 pips below immediate 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 lines (red & blue) of the alaskan-assasin-mod-indicator intersects during the course of a bullish trend (see Fig. 1.0), bulls power is said to be weaning, therefore an exit or take profit will suffice.
- If the line color of the mega-trend-indicator changes to red while a bullish signal is running as illustrated on Fig. 1.0, it is unlikely that current trend will be sustained, therefore an exit or take profit is duly recommended.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the red line of the alaskan-assasin-mod-indicator crosses its blue line in a top downward fashion as exemplified on Fig. 1.1, price is said to be pushed lower i.e. a signal to go bearish on the designated forex pair.
- If the line color of the mega-trend-indicator turns red and stays fairly above the price bars (refer to Fig. 1.1), the general market sentiment is said to be bearish, therefore traders are advised to sell their currency pair of interest.
Stop Loss for Sell Entry: Place stop loss 5 pips above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the lines (red & blue) of the alaskan-assasin-mod-indicator intersects while a bearish trend is ongoing as illustrated on Fig. 1.1, bears power is said to be halting, therefore an exit or take profit will do.
- If the line color of the mega-trend-indicator changes to blue as depicted on Fig. 1.1, it’s not likely that current trend will continue in its run, therefore an exit or take profit is duly advised.
Sell Trade Example
About The Trading Indicators
The alaskan-assasin-mod-indicator.ex4 is a technical indicator that can be used on just about any system or strategy for the additional confirmation of trading entries and exits.
The mega-trend-indicator.ex4 is an enhance Hull Moving Average set to a default period of 144.
It does attempt to eliminate lag altogether, while also enhancing smoothing alongside.