The Fisher Manager forex trading strategy uses the popular Fisher indicator to look for buy and sell forex signals on any currency pair.
The TrendManager and the Fisher_Yur4ik custom MT4 indicators are the crux of the system, due to their subtle ability to gauge trend and also determine price reversal points respectively.
Chart Setup
MetaTrader4 Indicators: TrendManager.ex4 (Inputs Variable Modified; TM_Shift=4, Colors Width Modified; #0=4, #1=4), Fisher_Yur4ik.ex4 (Inputs Variable Modified; period=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
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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 bars of the TrendManager custom MT4 indicator gets placed somewhat below price bars as shown on Fig. 1.0, the market sentiment is said to be bullish i.e. a signal to buy the designated forex pair.
- If the lime histograms of the Fisher_Yur4ik custom indicator gets aligned above the 0.00 level as depicted on Fig. 1.0, price is said to be pushed higher, as such a buy trigger will suffice.
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:
- If the TrendManager custom indicator pops up a red bar during a bullish signal, it is an indication of weaning bulls power, hence an exit or take profit is advised.
- If the Fisher_Yur4ik custom indicator displays a red histogram that is aligned below the 0.00 level (see Fig. 1.0), an exit or take profit is duly recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red bars of the TrendManager custom MT4 indicator gets placed somewhat above price bars as illustrated on Fig. 1.1, the market sentiment is said to be bearish i.e. a signal to sell the selected currency pair.
- If the red histograms of the Fisher_Yur4ik custom indicator gets lined up below the 0.00 level as seen on Fig. 1.1, price is said to be taken lower, as such a sell trigger will do.
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 center stage:
- If the TrendManager custom indicator pops up a blue bar during a sell alert, it is an indication of halting bears power (see Fig. 1.1), hence an exit or take profit is recommended.
- If the Fisher_Yur4ik custom indicator pops up a lime histogram that is positioned above the 0.00 level, an exit or take profit is duly advised.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The TrendManager indicator is designed to follow trend during volatile market sessions.
The Fisher_Yur4ik 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.