The Super Signal Bands Forex strategy is a trading system that emulates a stop and reverse process.
It can be used to determine profitable reversal points during sessions where the market has moved significantly, especially when the market seems to have topped or bottomed out at a key level.
The strategy is designed to recognize a market trend reversal following a major move up or down, and then consequently triggers a sell or buy order.
Remember to also incorporate risk management into any trading strategy (this inclusive), to minimize the risks linked with trading.
MetaTrader4 Indicators: bbands-stop-indicator.ex4 (Default Setting), jevel-histogram.ex4 (Inputs Variable Modified; Length=28)
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 chartreuse dotted line of the bbands-stop-indicator stay below the price bars as shown on Fig. 1.0, price is said to be pushed to the upside i.e. a trigger to go long on the selected currency pair.
- If the lime green bars of the jevel-histogram Metatrader 4 forex indicator stacks up within the indicator window as seen on Fig. 1.0, the overall market sentiment is said to be bullish, therefore a buy alert will suffice.
Stop Loss for Buy Entry: Place stop loss below support or green BBands stop rising line.
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 continuing, the bbands-stop-indicator displays an orange dotted line above the candlesticks as depicted on Fig. 1.0, price is said to be making a U-turn, thus an exit or take profit will do.
- If the jevel-histogram custom indicator displays a dark orange bar during the course of a bullish signal, bulls power is said to be weaning, therefore an exit or take profit is recommended.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the orange dotted line of the bbands-stop-indicator stay above the candlesticks as exemplified on Fig. 1.1, price is said to be dragged lower i.e. a trigger to go short on the designated forex pair.
- If the dark orange bars of the jevel-histogram forex indicator stacks up within the indicator window as exemplified on Fig. 1.1, the general market sentiment is said to be bearish, thus a sell alert is appropriate.
Stop Loss for Sell Entry: Place stop loss above resistance or orange BBands stop falling line.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If while a bearish trend is ongoing, the bbands-stop-indicator displays a chartreuse dotted line below the candlesticks as illustrated on Fig. 1.1, a bullish reversal is said to be imminent, thus an exit or take profit is advised.
- If the jevel-histogram custom indicator displays a lime green bar during the course of a bearish trend, bears power is said to be halting, therefore an exit or take profit is apt.
Sell Trade Example
About The Trading Indicators
The bbands-stop-indicator.ex4 is an enhanced Bollinger Bands that acts as a trend-following tool.
The indicator finds its use in gauging trend change, along with setting stop orders.
The jevel-histogram.ex4 is a trend confirming indicator that reveals how well a trend is doing.