The Solar Winds Joy Forex strategy is trend-following in nature and works for beginners and seasoned traders alike.
Solar Winds Joy can be used for both trade entry and exit in rising and falling currency markets.
This strategy uses one indicator that’s optimized for identifying the best entry points before a trend reversal occurs.
The indicator does not repaint any signals.
Strategy Setup & Recommendations
Indicator (s) used : solar-winds-joy-histo.mq4 (period: 35)
Currency pairs: majors & minors
Time frames: works on any time frame
Trade style: good for scalping, day trading and swing trading
Trading Platform: Metatrader 4
Chart Example (EUR/USD H1)
After you downloaded and installed this strategy on the MT4 trading platform, it should look like the image as shown below.
Strategy Buy & Sell Rules:
- A buy signal is given when the first green histogram bar appears on the chart.
- Place stop loss 3 pips below support.
- Exit the buy trade for a risk-to-reward ratio of at least 1.5 or wait for an opposite sell trading signal.
- A sell signal is given when the first red histogram bar appears on the chart.
- Place stop loss 3 pips above resistance.
- Exit the sell trade for a risk-to-reward ratio of at least 1.5 or wait for an opposite buy trading signal.
How to install this Forex strategy in the Metatrader 4 platform?
Then, install the used indicator(s) as follows:
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the strategy indicator (s) file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator (s) to the chart.
Now you are ready to start using this trading strategy!
About the Solar Winds Joy Histogram Indicator (MT4)
The indicator follows the trend and gets displayed as a green & red colored histogram in a bottom chart.
The Solar Winds Joy Histogram indicator works for any time frame.
Input variables: Period, smooth, do alert, alert mail
Feel free to combine this strategy with other technical indicators or with price action.
Explore and experiment with the indicator’s different inputs and settings to create your own personalized strategy setup.