To be able to filter out noises during directional changes in price actions, I have designed the Super Winner forex trading strategy.
The strategy is easy to implement and just about anyone can add the basic indicators that makes up the system to the MT4 trading chart. Learn below how to setup and use this strategy.
Chart Setup
MetaTrader4 Indicators: SuperMegaWinner.ex4 (default setting), ZigandZag.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, Day
Recommended Trading Sessions: Any
Currency Pairs: Majors + Cross Currency Pairs
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy in the market if the following indicator or chart pattern gets displayed:
- If the red line of the red line of the SuperMegaWinner.ex4 indicator crosses the blue line upwards, while lime dots align to the top of the indicator window, it is an indication that price is being pressured upwards i.e. a signal to buy the pair of interest.
- If the red upward pointing arrow of the ZigandZag.ex4 custom mt4 indicator forms below price bars as shown on Fig. 1.0, the market sentiment is said to be bullish and as such a buy entry is recommended.
Stop Loss for Buy Entry: Place stop loss 3 pips below immediate support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions hold sway in the market:
- If the red line of the red line of the SuperMegaWinner.ex4 indicator crosses the blue line downwards, while red dots align to the base of the indicator window, it is an indication more bulls are exiting the market, hence an exit or take profit will do.
- If the red downward pointing arrow of the ZigandZag.ex4 custom mt4 indicator forms above the candlesticks during an ongoing buy trigger as seen on Fig. 1.0, an exit or take profit is advised.
Sell Entry Rules
Enter a sell in the market if the following indicator or chart pattern gets displayed:
- If the red line of the red line of the SuperMegaWinner.ex4 indicator crosses the blue line downwards, while red dots align to the bottom of the indicator window as shown on Fig. 1.1, it is an indication that the market sentiment is bearish i.e. a signal to sell.
- If the red downward pointing arrow of the ZigandZag.ex4 custom mt4 indicator forms above the candlesticks as depicted on Fig. 1.1, the market sentiment is said to be bearish and as such a sell entry is advised.
Stop Loss for Sell Entry: Place stop loss 3 pips above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following rules or conditions take precedence:
- If the red line of the red line of the SuperMegaWinner.ex4 indicator crosses the blue line upwards, while lime dots form at the top of the indicator window, traders should consider exiting or taking profits.
- If the red upward pointing arrow of the ZigandZag.ex4 custom mt4 indicator aligns below price bars during an existing sell trigger as seen on Fig. 1.1, an exit or take profit is advised.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The SuperMegaWinner.ex4 custom mt4 indicator oscillates between 1.1 and -1.1 within its indicator window.
Its red line crosses the blue line upward (buy signal) and downwards (sell signal).
It also paints lime (at the top) dots and red (at the base) for easy spotting of signals.
The ZigandZag.ex4 indicator is a technical study that is used to eliminate noise from price action, thus allowing traders focus on crucial trends.