The T3 Ribbon forex day trading strategy is an excellent strategy for forex day trading style.
The strategy consists of a custom built trading MT4 indicator and the popular MACD indicator. T3 is designed to buy low and sell high in an existing trend.
Learn the simple rules below and download the strategy for free:
Chart Setup
Used indicators: kino_T3MA ribbon filled.ex4 (input settings: MA1Period: 13, factor1: 0.7, Ma2Period: 150, factor2: 0.6), MACD (default settings)
Preferred time frame(s): 1 minute (good for scalping), 5 minute and 15 minute charts (good for day trading)
Recommended trading sessions: London and US session
Currency pairs: any
Download
Download The T3 Ribbon Forex Day Trading Strategy.
Example: EUR/USD M5 Chart
The figure above is an example of the T3 day trading strategy in action on the 5 minute Euro/US Dollar forex chart.
It shows our proposed buy and sell entry points (arrows) in the up-and downtrend.
As you can see from the image above, multiple trading positions can be opened when the trend keeps rising or falling.
A stop-loss will be kept below the rising green line in an uptrend, or above the green line in an downtrend.
Strategy Trading Rules
Buy conditions:
- Kino Ribbon indicator changes from red to green color (bullish trend).
- MACD indicator turns back above 0.00 from below and Kino Ribbon must be green colored.
==> Open long trade position. Place your stop-loss below the green colored T3 Ribbon indicator line.
Trade exit (TP): (1) Set your own profit target, for example 40 pips, do not wait for an opposite trading signal issued by the T3 Ribbon indicator. (2) Wait for an opposite trading signal (T3 Ribbon sell signal) to close the long trade. (3) Trial your stop-loss up just below the rising green colored T3 Ribbon indicator line.
Sell conditions:
- Kino Ribbon indicator changes from green to red color (bearish trend).
- MACD indicator turns back below 0.00 from above and Kino Ribbon must be red colored.
==> Open short trade position. Place your stop-loss above the green colored T3 Ribbon indicator line.
Trade exit (TP): (1) Set your own profit target, for example 100 pips, do not wait for an opposite trading signal issued by the T3 Ribbon indicator. (2) Wait for an opposite trading signal (T3 Ribbon sell signal) to close the short trade. (3) Trial your stop-loss down just above the falling green colored T3 Ribbon indicator line.