Waddah Attar Trend Forex Trading Strategy

The Waddah Attar forex trend strategy consists of 2 indicators to generate buy and sell forex signals: A trend indicator that discovers the direction of the overall trend for any chosen timeframe and a bull/bear histogram indicator for trade entry in the direction of the overall trend.

Explore below how you can generate signals from this simple system:

Chart Setup

MetaTrader4 Indicators: Waddah_Attar_Trend.ex4 (default setting), ang_Zad_2Ci.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: All pairs except exotic pairs

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Download the Waddah Attar Trend Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy position if the following chart patterns are on display:

  1. If the red line of the ang_Zad_2Ci custom indicator crosses the blue line bottom up, with the candlesticks aligned above as shown on Fig. 1.0, price is said to be pressured to the upside i.e. a signal to go long on the instrument of interest.
  2. If the green colored histogram of the Waddah_Attar_Trend.ex4 custom indicator forms above the 0.00 signal level, the sentiment in the market is said to be bullish i.e. a buy signal is right.

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

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions hold sway:

  1. If the red line of the ang_Zad_2Ci custom indicator cuts across the blue line top downward, it is a signal that the bullish trend is getting exhausted i.e. an exit or take profit is advised.
  2. If the green colored histogram of the Waddah_Attar_Trend.ex4 custom indicator that forms during an uptrend disappears towards the 0.00 signal level and we get red histograms forming below the 0.00 signal line instead, it is a trigger to exit or take profit.

Sell Entry Rules

Initiate a sell order in the market if the following indicator of chart patterns takes precedence:

  1. If the red line of the ang_Zad_2Ci custom indicator crosses the blue line top downward and stays above the blue line, with the candlesticks aligned below as shown on Fig. 1.1, price is said to be pushed lower i.e. a trigger to go short.
  2. If the red colored histogram of the Waddah_Attar_Trend.ex4 custom indicator forms below the 0.00 signal level, the sentiment in the market is said to be bearish i.e. a sell signal is in order.

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

Exit Strategy/Take Profit for Sell Entry

Exit or take profit on position(s) if the following chart or indicator patterns are displayed:

  1. If the red line of the ang_Zad_2Ci custom indicator cuts across the blue line bottom up, staying below the blue line while the candlesticks are aligned above, this setup is a trigger to exit or take profit.
  2. If the red colored histogram of the Waddah_Attar_Trend.ex4 custom indicator that forms during an bearish trend disappears towards the 0.00 signal level and green histograms forms above the 0.00 signal line instead, it is a trigger to exit or take profit.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The Waddah_Attar_Trend.ex4 is a custom indicator that is simple, easy to use and quite sensitive to bulls and bears market alerts. The trigger is bullish when green and bearish when red.

The ang_Zad_2Ci custom indicator on the other hand offers clues on dominant market trend. As we see incriminations of the trends, the blue line somewhat changes, while the red line changes with decreasing trends.

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