TSI Signals Forex Trading Strategy

The TSI Signals forex trading strategy is a trading strategy that incorporates momentum and price smoothening in determining market trends.

It uses basic indicators in predicting buy/sell signals in the currency market.

Chart Setup

MetaTrader4 Indicators: TSI_Signals.ex4 (default settings), Turn_Area.ex4 (Colors Width modified #0=2), 24 EMA.ex4

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

Download

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Enter a buy in the market if the following indicator or chart pattern gets displayed:

  1. If the red upward pointing arrow of the TSI_Signals.ex4 custom indicator pops up on the activity, while aligning above the red line of the 24 EMA indicator, price is said to be pressured higher i.e. a signal to buy the asset of choice.
  2. If the dark violet bars of the Turn_Area.ex4 custom indicator aligns above the 0.00 level as shown on Fig. 1.0, the prevalent market sentiment is said to be bullish, hence a trigger to buy the designated currency pair.

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 rules or conditions takes precedence:

  1. If the blue downward pointing arrow of the TSI_Signals.ex4 custom indicator pops up on the activity during a buy signal, it is a trigger to exit or take profit at once.
  2. If the dark violet bars of the TSI_Signals.ex4 custom indicator aligns below the 0.00 level while a bullish trend is ongoing, it is a signal of weaning bulls power, hence an exit or take profit is recommended.

Sell Entry Rules

Enter a sell entry if the following holds true:

  1. If the blue downward pointing arrow of the TSI_Signals.ex4 custom indicator pops up on the activity, while positioning below the red line of the 24 EMA trading indicator, price is said to be pushed lower, hence a trigger to sell without delay.
  2. If the dark violet bars of the Turn_Area.ex4 custom indicator aligns below the 0.00 level as seen on Fig. 1.1. The dominant market sentiment is said to be bearish, as such a sell alert is in the offing.

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 takes center stage:

  1. If the red upward pointing arrow of the TSI_Signals.ex4 custom indicator gets displayed on the activity during a sell trigger, it is a pointer to halting bear power, hence an exit or take profit will suffice.
  2. If the dark violet bars of the TSI_Signals.ex4 custom indicator aligns above the 0.00 level while a bearish trend is ongoing, it is a signal of weaning bears power, hence an exit or take profit is recommended.

Sell Trade Example

Fig. 1.1

Free Download

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About The Trading Indicators

The Turn_Area.ex4 custom indicator is a custom indicator that is built on the RSI and moving averages indicators.

The 24 EMA.ex4 is an exponential moving average that has its period set at 24 and reduces the lag by adding more weight to recent price.

TSI_Signals.ex4 is a True Strength Index signals momentum oscillator that is based on a double smoothing of price changes.

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