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Double Holt Forex Trading Strategy

    Newbies should have no misconceptions – trading currencies online involves pitfalls and costs. There’s need for adequate planning and analysis, along with considerations hinging around the dangers of losing money.

    We are in the business of simplifying those risks, which is why the Double Holt forex trading strategy focuses on maximizing your wins and overall earnings.

    The added indicators i.e. the Holt_double_exponential_smoothing_2.2 and Fisher_Yur4ik are carefully tweaked, owing to their characteristic trend reversal and strength spotting ability.

    Chart Setup

    MetaTrader4 Indicators: Holt_double_exponential_smoothing_2.2.ex4 (Inputs Variable Modified; Estimate period=27.33, Trend period=14.0, Forecast bars (horizon) =30), Fisher_Yur4ik.ex4 (Inputs Variable Modified; period=10)

    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

    Download the Double Holt Forex Trading Strategy

    Buy Trade Example

    Fig. 1.0

    Strategy

    Long Entry Rules

    Initiate a buy entry if the following indicator or chart pattern gets put on display:

    1. If the lime green line of the Holt_double_exponential_smoothing_2.2 custom MT4 indicator forms somewhat below the candlesticks as shown on Fig. 1.0, price is said to be pushed to the upside, i.e. a trigger to buy the designated forex pair.
    2. If the lime histograms of the Fisher_Yur4ik custom indicator pops up above the 0.00 level as depicted on Fig. 1.0, bulls are said to outnumber bears, hence a trigger buy the designated currency pair.

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

    Exit Strategy/Take Profit for Buy Entry

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

    1. If while a bullish signal is ongoing, the Holt_double_exponential_smoothing_2.2 indicator line turns orange, it is pointing to weaning bulls power, hence an exit or take profit will suffice.
    2. If a red histogram is seen below the 0.00 level during a buy alert, a bearish reversal is said to be in the offing, as such an exit or take profit is imminent.

    Sell Entry Rules

    Enter a sell order if the following holds true:

    1. If the orange line of the Holt_double_exponential_smoothing_2.2 custom MT4 indicator forms fairly above the candlesticks as illustrated on Fig. 1.1, price is said to be taken lower, i.e. a trigger to sell the elected currency pair.
    2. If the red histograms of the Fisher_Yur4ik custom indicator pops up below the 0.00 level as seen on Fig. 1.1, bears are said to outnumber bulls, hence a trigger sell the currency pair of focus.

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

    Exit Strategy/Take Profit for Sell Entry

    Exit or take profit if the following takes to the fore:

    1. If while a bearish alert is running, the Holt_double_exponential_smoothing_2.2 indicator line turns lime green, it is pointing to halting bears power, hence an exit or take profit will do.
    2. If a lime histogram is seen above the 0.00 level during a sell alert, a bullish reversal is said to be in the cards, as such an exit or take profit is impending.

    Sell Trade Example

    Fig. 1.1

    Free Download

    Download the Double Holt Forex Trading Strategy

    About The Trading Indicators

    The Holt_double_exponential_smoothing_2.2.ex4 is a trend following indicator that is essentially used for forecasting but not as an average.

    It uses linear forecasting in carrying out its forecasting method.

    The Fisher_Yur4ik.ex4 custom indicator is an oscillator that signals bullish or bearish price pressures when its colored histograms are aligned above or below the 0.00 signal level respectively.