As the years roll by currency traders come to the realization that the system with the highest level of simplicity is often the best.
You can take decisions more quickly and with little stress when you trade with a simple strategy.
Seeking after the most effective and simple trading strategies is crucial for market participants and we have designed the Sunrise forex trading strategy to allow you experience this.
MetaTrader4 Indicators: Forex_Trend_Signalsv1.ex4 (Default Setting), forex_sunrise_indicator.ex4 (Colors Width Modified; #0=2, #1=2)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets displayed:
- If the blue line of the forex_sunrise_indicator.ex4 gets aligned slightly below the candlesticks as seen on Fig. 1.0, it is pointing at bullish sentiment in the market i.e. a trigger to buy the listed currency pair.
- If the vertical bars (usually starting off as lime colored and mixed with yellow) of the Forex_Trend_Signalsv1 custom indicator gets displayed within its indicator’s window as depicted on Fig. 1.0, a signal to buy the designated forex pair is in the cards.
Stop Loss for Buy Entry: Place stop loss below the rising blue line.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If the line of the forex_sunrise_indicator.ex4 turns deep pink as depicted on Fig. 1.0, the current market bullish sentiment is said to be weaning, hence an exit or take profit is duly advised.
- If a red vertical bar of the Forex_Trend_Signalsv1 custom indicator get displayed during a bullish market, it is a signal to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the deep pink line of the forex_sunrise_indicator.ex4 gets placed slightly above the candlesticks as seen on Fig. 1.1, it is pointing at bearish sentiment in the market i.e. a trigger to sell the designated forex pair.
- If the vertical bars (usually starting off as red colored and mixed with yellow) of the Forex_Trend_Signalsv1 custom indicator gets put on show within its indicator’s window as seen on Fig. 1.1, a signal to go short on the specified currency pair is said to be approaching.
Stop Loss for Sell Entry: Place stop loss above the falling deep pink line.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the line of the forex_sunrise_indicator.ex4 turns blue as illustrated on Fig. 1.1, the current bearish market sentiment is said to be halting, hence an exit or take profit will suffice.
- If a lime vertical bar of the Forex_Trend_Signalsv1.ex4 custom indicator get displayed during a sell market, an exit or take profit should be considered along the next line of action.
Sell Trade Example
About The Trading Indicators
The Forex_Trend_Signalsv1.ex4 custom indicator is made up of two moving averages and the CCI MT4 indicator period set at 236.
The lime colored vertical bars within the chart window indicates a bullish trend, the red vertical indicates a bearish trend and the yellow bars shows range-bound trend.
The forex_sunrise_indicator.ex4 is an adaptable technical study that is based on the moving average and triggers buy/sell alerts in line calculations that are based on support and resistance.