Silver Trend Signal Forex Trading Strategy

The Silver Trend Signal forex trading strategy is developed to search for the best possible trades in market conditions where prices are either overbought or oversold.

This versatile strategy consists of a trend buy/sell forex indicator and the SMI trading oscillator.

The Silver Trend Signal strategy is easy to use and profitable, which makes it a very good choice for both beginners and experienced traders alike.

Chart Setup

MetaTrader4 Indicators: SilverTrend_Signal_With_Alert_v3.ex4 (Inputs Variable Modified; RISK=8, C), SMI.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 (London, New York, Tokyo)

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy order in the market if the following chart or indicator pattern is on display:

  1. If the dodger blue upward pointing arrow of the SilverTrend_Signal_With_Alert_v3 custom indicator gets aligned somewhat below price bars as seen on Fig. 1.0, price is said to be pressured higher i.e. a signal to go long.
  2. If the red line of the SMI custom indicator breaks and stays above the 0.00 level as illustrated on Fig. 1.0, price is said to be pushed higher i.e. a trigger to buy the stipulated currency pair.

Stop Loss for Buy Entry: Place stop loss 1 pip below support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If the magenta downward pointing arrow of the SilverTrend_Signal_With_Alert_v3 custom indicator appears on the activity chart during a buy signal, it is a signal to exit or take profit forthwith.
  2. If the red line of the SMI custom indicator declines, as such breaking below the 0.00 level during a buy signal, bulls power is said to weaning i.e. an exit or take profit trigger.

Sell Entry Rules

Enter a sell order if the following holds true:

  1. If the magenta downward pointing arrow of the SilverTrend_Signal_With_Alert_v3 custom indicator gets displayed somewhat above price bars as depicted on Fig. 1.1, price is said to be pushed lower i.e. a signal to go short.
  2. If the red line of the SMI custom indicator dips below the 0.00 level as shown on Fig. 1.1, price is said to be taken Lowe, hence a signal to sell the designated forex pair.

Stop Loss for Sell Entry: Place stop loss 1 pip above resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

  1. If during a sell signal the dodger blue upward pointing arrow of the SilverTrend_Signal_With_Alert_v3 custom indicator pops up on the activity chart, price is said to be making a U-turn away from its earlier bearish stance, hence an exit or take profit will do.
  2. If the red line of the SMI custom indicator spikes, hence breaking above the 0.00 level during a sell signal, bears power is said to halting i.e. an exit or take profit trigger.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The SMI also known as the Stochastic Momentum is a custom indicator that computes two lines, the SMI data line and the SMI indicator line.

The SilverTrend_Signal_With_Alert_v3 custom indicator is a trend seeking tool that plots a dodger blue and magenta arrows by default to pinpoint bullish and bearish signals respectively.

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Combines Price Action And Market Volatility To Help You Identify Profitable Entries And Exits Quickly and Accurately.



  • Up To 100 Pips Per Trade With Low Risk
  • Includes Entry, Stop-Loss And Take Profit Rules
  • Learn And Trade This Strategy In only 10 Minutes