The Trend Finder forex trading strategy can generate a good number of intraday forex signals and is able to determine changes in trend when the market is flat and trending equally.
Chart Setup
MetaTrader4 Indicators: TrendFinder.ex4 (default setting), TrendLinearReg.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: All pairs
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Place a buy entry if the following rules or conditions are in place:
- If the red line of the TrendFinder.ex4 custom mt4 indicator crosses its blue line bottom up as shown on Fig. 1.0, it is an indication that price is being pressured to the upside i.e. a trigger to buy the pair of interest.
- If the histogram of the TrendLinearReg.ex4 custom mt4 indicator aligns above the 0.00 signal level, price is said to be pushed higher i.e. a trigger to go long. The lime green color above the 0.00 level denotes a very strong bullish trend, while red histograms that are aligned above the 0.00 signal level denotes weaning bullish sentiment.
Stop Loss for Buy Entry: Place stop loss below immediate support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following holds sway on the activity chart:
- If the red line of the TrendFinder.ex4 custom mt4 indicator crosses its blue line top downwards placing itself above blue line (refer to Fig. 1.0), an exit or take profit is advised.
- If red histograms of the TrendLinearReg.ex4 custom mt4 indicator forms below the 0.00 signal level during a long entry, price is said to be reversing, hence an exit or take profit is crucial.
Sell Entry Rules
Initiate a sell order if the following chart or indicator pattern gets displayed:
- If the red line of the TrendFinder.ex4 custom mt4 indicator crosses its blue line top downwards as depicted on Fig. 1.1, it is an indication that price is being pushed lower i.e. a trigger to sell the pair of interest.
- If the histogram of the TrendLinearReg.ex4 custom mt4 indicator aligns below the 0.00 signal level, price is said to be pushed lower i.e. a sell trigger. The red color below the 0.00 level denotes a very strong bearish trend, while lime green histograms that are aligned below the 0.00 signal level denotes the resumption of bulls pressure.
Stop Loss for Sell Entry: Place stop loss above immediate resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on position(s) if the following holds true:
- If the red line of the TrendFinder.ex4 custom mt4 indicator crosses its blue line bottom up placing itself below blue line (prefer to Fig. 1.1), an exit or take profit is advised.
- If lime green histograms of the TrendLinearReg.ex4 custom mt4 indicator aligns above the 0.00 signal level during sell order(s), price is said to be making a U-turn, hence an exit or take profit is crucial.
Sell Trade Example
Fig. 1.1
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About The Trading Indicators
The real creator behind the TrendLinearReg.ex4 custom indicator is Sergej Solujanov, and the indicator is designed to spot trend changes.
The indicator can be traded by observing when it crosses the zero line (just as we’ve exemplified), touches the peak value or even trading zone breakout.
The TrendFinder.ex4 custom indicator is a trend following technical study just as the name implies, and is comprised of two lines (red and blue), where buy/sell signals are triggered off when these lines cross.