Trigger Lines Forex trading Strategy

The Trigger Lines forex trading strategy is an intriguing mechanical trading system that uses two special FX indicators in dishing out trade alerts.

The setup for using this strategy is quite simple once the indicators are properly added unto the charts.

Chart Setup

MetaTrader4 Indicators: aNina.ex4 (default setting), Triggerlines2.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hour

Recommended Trading Sessions: Any

Currency Pairs: Majors and cross pairs (avoid exotic pairs)

Download

Download the Trigger Lines Forex trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Enter a buy position in the market if the following condition holds true:

  1. If the blue lines of the Triggerlines2 custom indicator forms, usually placed somewhat below price bars, the trend is said to be bullish and a buy signal is appropriate.
  2. If the green upward pointing arrow of the aNina.ex4 custom indicator forms within its indicator window, price is said to be pressured higher i.e. a buy signal.

Stop Loss for Buy Entry: Place stop loss 5 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following chart or indicator pattern(s) get displayed:

  1. If the lines of the Triggerlines2 custom indicator turns red, it is a sign that buyer are exiting or reducing their positions in the market and as such an exit or take profit is appropriate.
  2. If the aNina.ex4 custom indicator forms a red downward pointing arrow within its indicator window, price is said to be taking a reverse and traders are advised to exit or take profit forthwith.

Sell Entry Rules

Place a sell order if the following indicator or chart pattern takes center stage:

  1. If the red lines of the Triggerlines2 custom indicator forms, usually placed somewhat above price bars, the market sentiment is said to be bearish and a sell signal is appropriate.
  2. If the red downward pointing arrow of the aNina.ex4 custom indicator forms within its indicator window, price is said to be pressured lower i.e. a sell signal.

Stop Loss for Sell Entry: Place stop loss 5 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit on open orders if the following rules or conditions hold:

  1. If the lines of the Triggerlines2 custom indicator turns blue during a downtrend, it is a sign that sellers are leaving the market or cutting on their market positions, and as such an exit or take profit is appropriate.
  2. If the aNina.ex4 custom indicator forms a green upward pointing arrow within its indicator window during a downtrend, price is said to making a U-turn and traders are advised to exit or take profit without delay.

Sell Trade Example

Fig. 1.1

Free Download

Download the Trigger Lines Forex trading Strategy

About The Trading Indicators

The aNina.ex4 custom indicator offers an opportunity for traders to spot diverse peculiarities and patterns hidden in price dynamic.

The indicator is built on the StepMA Stochastic indicator and calculated using threshold levels for trading and V True Range.ex4 (ATR).

The Triggerlines2 is a custom indicator that is designed after the moving average but is made up of two lines, with changing colors, red for bears and blue for bulls.

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