Nothing refreshes a trader more than the ability to close all open positions in profits, and we know we are in this business to make profits.
The forex market is broken into different parts and no one can master it all, instead you take a section of the market and study it thoroughly to get the best off it.
The ADX Trend forex trading strategy deals with trendy markets, as such it is designed to yield more pips profits when we enter trades.
Learn and download this awesome strategy below:
Chart Setup
MetaTrader4 Indicators: Advanced_ADX.ex4 (Inputs Variable Modified; ADXPeriod=65), BykovTrend_Sig.ex4 (Inputs Variable Modified; Risk=12)
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 (Majors, Currency Crosses, Exotics)
Download
Download the ADX Trend Forex Trading Strategy
Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy order if the following indicator or chart pattern gets displayed:
- If the dodger blue upward pointing arrow of the BykovTrend_Sig.ex4 custom MT4 indicator gets positioned somewhat below the candlesticks as depicted on Fig. 1.0, it is a signal to buy the designated currency pair.
- If the green histograms of the Advanced_ADX.ex4 custom indicator gets positioned within the indicator window, the market sentiment is said to be bullish i.e. a trigger to buy the selected currency pair.
Stop Loss for Buy Entry: Place stop loss below medium-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions take precedence:
- If the magenta downward pointing arrow of the BykovTrend_Sig.ex4 custom MT4 indicator gets shown on the activity chart during a bullish trend, it is an exit or take profit trigger.
- If the color of the histograms of the Advanced_ADX.ex4 custom indicator turns red during a buy signal, bulls’ power is said to be weaning i.e. a trigger to exit or take profit without delay.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the magenta downward pointing arrow of the BykovTrend_Sig.ex4 custom MT4 indicator gets positioned somewhat above the candlesticks as shown on Fig. 1.1, it is a depiction of a bearish market signal.
- If the red histograms of the Advanced_ADX.ex4 custom indicator gets placed within the indicator window, the market sentiment is said to be bearish i.e. a trigger to sell the designated forex pair.
Stop Loss for Sell Entry: Place stop loss above medium-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the dodger blue upward pointing arrow of the BykovTrend_Sig.ex4 custom MT4 indicator gets shown on the activity chart during a bearish trend, it is an exit or take profit trigger.
- If the color of the histograms of the Advanced_ADX.ex4 custom indicator turns green during a sell signal, bears’ power is said to be halting i.e. a trigger to exit or take profit forthwith.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The Advanced_ADX.ex4 custom indicator is an oscillator built on the ADX indicator.
It uses colored histogram bars to depict buy and sell signals i.e. green and red colored histograms respectively.
The BykovTrend_Sig.ex4 custom indicator is a technical analysis tool that gauges trend with the use of an upward pointing dodger blue and downward pointing red arrows.