The Fisher Curves Arrows Forex trading strategy is based on the popular Fisher indicator and aims to swiftly identify profitable trends in their early formative stages and detect trend changes.
Chart Setup
MetaTrader4 Indicators: lukas1_Arrows_Curves.ex4 (Inputs Variable Modified; SSP=14), Fisher.ex4 (Inputs Variable Modified; period=36)
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
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the blue upward pointing arrow of the lukas1_Arrows_Curves custom indicator gets displayed somewhat below price bars as depicted on Fig. 1.0, price is said to be driven to the upside i.e. a trigger to buy the designated forex pair.
- If the lime histograms of the Fisher MT4 indicator gets aligned somewhat above the 0.00 level as shown on Fig. 1.0, bulls are said to be taking price higher, as such a buy will suffice.
Stop Loss for Buy Entry: Place stop loss below trading support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If a red downward pointing arrow pops up above the candlesticks during a buy alert, it is indicative of a bearish reversal, hence, an exit or take profit will suffice.
- If a red histogram forms below the 0.00 level while a buy alert is ongoing, it is a trigger to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds sway:
- If the red downward pointing arrow of the lukas1_Arrows_Curves custom indicator gets placed slightly above price bars as illustrated on Fig. 1.1, price is said to be pushed lower i.e. a trigger to sell the selected fx pair.
- If the red histograms of the Fisher MT4 indicator gets aligned fairly below the 0.00 level as exemplified on Fig. 1.1, bears are said to be pushing price lower, as such a sell will do.
Stop Loss for Sell Entry: Place stop loss above trading resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes to the fore:
- If a blue upward pointing arrow pops up below the candlesticks during a sell alert (see Fig. 1.1), it is indicative of a bullish reversal, hence, an exit or take profit stance is advised.
- If a lime histogram break above the 0.00 level while a sell signal is running, it is a trigger to exit or take profit immediately.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The lukas1_Arrows_Curves.ex4 is a custom indicator that displays a band around price, with arrows (blue and red) used in denoting market trends (bullish and bearish).
The Fisher.ex4 custom indicator is a MetaTrader 4 indicator that tries to pinpoint trend direction, trend changes and trend strength in view of market action.