The Winner Forex Strategy with ADX Candles indicator allows you make serious pips in bull and bear markets.
You don’t have to get attached to the direction of the market, as long as the market moves, there’s always room for profit.
The technical indicators attached to this strategy will help you achieve this.
The main idea behind this strategy is to find potential new buy and sell trends in their early stages.
This invariably helps traders avoid jumping into a trend as it is speeding past, instead they’re able to join the bandwagon during its perfect pause.
MetaTrader 4 Indicators: adx-candles-indicator.ex4 (Inputs Variable Modified; ADXPeriod=28), trend-bars.ex4 (Inputs Variable Modified; RangePeriods=36)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the adx-candles-indicator.ex4pops up lime colored price bars as shown on Fig. 1.0, the overall market sentiment is said to be bullish i.e. a trigger to go long on the designated currency pair.
- If the light sky blue histograms of the trend-bars Metatrader 4 custom indicator stay above the zero center level (see Fig. 1.0), price is said to be pressured higher i.e. a trigger to buy the stipulated currency pair.
Stop Loss for Buy Entry: Place stop loss below the previous swing low price.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If the adx-candles-indicator.ex4turns red during the course of a bullish trend (refer to Fig. 1.0), bulls power is said to be weaning, hence an exit or take profit is recommended.
- If the trend-bars indicator displays a red histogram that pops up below the 0.00 center line while a bullish signal is ongoing, price is said to be making a U-turn, therefor an exit or take profit will suffice.
Sell Entry Rules
Go short if the following setups gets displayed successfully on the activity chart:
- If the adx-candles-indicator.ex4displays red colored price bars as indicated on Fig. 1.1, the general market sentiment is said to be bearish i.e. a trigger to go short on the selected currency pair.
- If the red histograms of the trend-bars Metatrader 4 custom indicator hovers below the zero signal level as exemplified on Fig. 1.1, bears are said to be taking up more market positions, therefore a sell entry is most favoured.
Stop Loss for Sell Entry: Place stop loss above the previous swing high price.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the adx-candles-indicator.ex4turns lime while a bearish signal is running (see Fig. 1.1), bears power is said to be halting, hence a trigger to exit or take profit immediately.
- If the trend-bars indicator displays a light sky blue histogram that comes up above the 0.00 center line during a sell signal, price is said to be making a U-turn, therefor an exit or take profit will do.
Sell Trade Example
About The Trading Indicators
The ADX Candles.ex4 custom indicator superimposes its color on the candlesticks, giving traders clearer information regarding bullish (green) and bearish (red) candlesticks.
The Trend_Bars.ex4 custom indicator is an oscillator that defines trend by aligning its histograms below (bears) or above (bulls) the 0.00 signal level.