Trading currencies online offers participants the opportunity to work in their pajamas, from the comfort of their homes, or while on holiday, as they generate massive income for themselves within a short period.
All that is required to accomplish this is having some basic computer knowledge and the desire to learn the forex trading ropes.
To ease some of the trading hurdles, we have created the BT Buzzer Trigger forex trading strategy to simply the trading experience.
The indicators that makes up the system includes the buzzer and BTtrend Trigger custom indicators, which can separately function as trend following and trend strength measuring tools respectively.
MetaTrader4 Indicators: buzzer.ex4 (Inputs Variable Modified; Length=40), BTtrend Trigger.ex4 (Inputs Variable Modified; TTFbars=24)
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
Buy Trade Example
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the lime line of the buzzer custom indicator gets aligned somewhat below price bars as shown on Fig. 1.0, price is said to be taken higher i.e. a trigger to buy the designated currency pair.
- If the light sea green & red lines of the BTtrend Trigger custom indicator break above the 0.00 level as illustrated on Fig. 1.0, the overall market sentiment is said to be bullish, as such a buy trigger is looming.
Stop Loss for Buy Entry: Place stop loss below the most recent swing low price.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If the lime line of the buzzer custom indicator turns red during a buy signal, it is an indication of weaning bulls’ strength (see Fig. 1.0), as such an exit or take profit will suffice.
- If while a bullish trend is running, the light sea green line of the BTtrend Trigger custom indicator dip below the red line, it is a trigger to exit or take profit forthwith.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red line of the buzzer custom indicator gets aligned fairly above price bars as seen on Fig. 1.1, price is said to be driven lower i.e. a trigger to sell the selected forex pair.
- If the light sea green & red lines of the BTtrend Trigger custom indicator break below the 0.00 level as depicted on Fig. 1.1, the general market sentiment is said to be bearish, as such a sell trigger is imminent.
Stop Loss for Sell Entry: Place stop loss above the most recent swing high price.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes to the fore:
- If the red line of the buzzer custom indicator turns lime while a sell alert is running, it is an indication of halting bears’ power (see Fig. 1.1), as such an exit or take profit will do.
- If while a bearish trend is running, the light sea green line of the BTtrend Trigger custom indicator surges above the red line, it is a trigger to exit or take profit without delay.
Sell Trade Example
About The Trading Indicators
The buzzer indicator is a trend following technical study that defines bullish (lime) and bearish (red) market sentiments based on modified moving averages.
The BTtrend Trigger custom indicator just as its name suggests is trend finder that signals change in trend when its lines break above/below the 0.00 level.