Early Bird Forex Pattern Strategy

The Early Bird forex pattern strategy is an efficient trading system that is designed to catch trend in their early stage.

Based on the information available in the market, the basic indicators in use are further able to predict price movement quite on time.

Chart Setup

MetaTrader4 Indicators: MACD_Signals.ex4 (default setting), Keltner_Chanel.ex4 (default setting)

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

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter buy order(s) if the following chart or indicator pattern gets displayed:

  1. If price breaks and stays above the middle line of the Keltner_Chanel.ex4 custom indicator as seen on Fig. 1.0, the sentiment in the market is said to be bullish i.e. a signal to go long on the currency of interest.
  2. If the histograms of the MACD_Signal.ex4 custom indicator aligns above the 0.00 level as illustrated on Fig. 1.0, price is said to be pushed somewhat higher, hence a trigger to enter buy position(s).

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following holds weight:

  1. If price opens and closes beneath the middle line of the Keltner_Chanel.ex4 custom indicator during a bullish signal, it is said to be a pointer to weaning bulls power, as such an exit or take profit is recommended.
  2. If during a bullish alert the MACD_Signals.ex4 histogram readjust to form below the 0.00 level, price is said to be taking a possible hit to the downside i.e. an exit or take profit is advised without delay.

Sell Entry Rules

Enter a sell order if the following rules or conditions takes precedence:

  1. If price breaks and stays below the middle line of the Keltner_Chanel.ex4 custom indicator as shown on Fig. 1.1, the sentiment in the market is said to be somewhat bearish i.e. a signal to go short on the currency of focus.
  2. If the histograms of the MACD_Signal.ex4 custom indicator line up below the 0.00 level as depicted on Fig. 1.1, price is said to be pushed somewhat lower, hence a trigger to initiate sell order(s).

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following gets exhibited on the activity chart:

  1. If price opens and closes above the middle line of the Keltner_Chanel.ex4 custom indicator during a bearish trend, it is said to be a pointer to halting bears power, as such an exit or take profit is recommended.
  2. If during a sell signal the MACD_Signals.ex4 histogram realign to form above the 0.00 level, price is said to be taking a possible push to the upside i.e. an exit or take profit is advised straight away.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The Keltner_Chanel.ex4 is a custom indicator that is essentially a double Average True Range values below and above the 20-day exponential moving average.

The MACD_Signals.ex4 is a modified Moving Average Convergence Divergence oscillator with a nice visual display of histograms aligned below & above the 0.00 signal level to depict bearish/bullish trend respectively.

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