Traders must learn to combine technical tools that are readily available to them in a bid to come up with a trading strategy that works for them.
The Fisher Trend v12 forex trading strategy works really well on any currency pair and timeframe, put it to the test today!
MetaTrader4 Indicators: Fisher_org_v12.ex4 (Input Variable Modified; Length=12), forex-mt4-trend-indicator.ex4 (Input Variable Modified; MaPeriod=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 (Majors, Crosses, Exotics)
Buy Trade Example
Long Entry Rules
Initiate a buy entry if the following indicator or chart setup is put on display:
- If the blue upward pointing arrow and candle-like bodies of the forex-mt4-trend-indicator.ex4 aligns somewhat below price bars, price is said to be pushed higher, hence a trigger to go long on the designated currency pair.
- If the lines (blue & red) of the Fisher_org_v12.ex4 custom MT4 indicator breaks and hovers above the 0.00 level as shown on Fig. 1.0, the prevalent market sentiment is said to be bullish, as such a buy signal is looming.
Stop Loss for Buy Entry: Place stop loss 2-5 pips below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If a red candle-like body or downward pointing arrow of the forex-mt4-trend-indicator forms on the chart during a buy signal, it is a signal to exit or take profit at once.
- If the lines (red & blue) of the Fisher_org_v12.ex4 custom MT4 indicator dips below the 0.00 level during a bullish trend, bulls power is said to be weaning, hence an exit or take profit will suffice.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the red downward pointing arrow and candle-like bodies of the forex-mt4-trend-indicator aligns slightly above the candlesticks, price is said to be pushed lower, hence a trigger to go short on the currency pair of interest.
- If the lines (blue & red) of the Fisher_org_v12.ex4 custom.ex4 MT4 indicator dips and hovers below the 0.00 level as seen on Fig. 1.1, the widespread market sentiment is said to be bearish, as such a sell signal is imminent.
Stop Loss for Sell Entry: Place stop loss 2-5 pips above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If a blue candle-like body or upward pointing arrow of the forex-mt4-trend-indicator.ex4 forms on the chart during a sell trigger, it is a signal to exit or take profit immediately.
- If the lines (red & blue) of the Fisher_org_v12.ex4 custom MT4 indicator surges above the 0.00 level during a bearish trend, bears power is said to be halting, hence an exit or take profit will do.
Sell Trade Example
About The Trading Indicators
The Fisher_org_v12.ex4 custom indicator is an oscillator that consists of two lines, a red and a blue line.
The lines oscillate around the 0.00 signal level. Price is bullish/bearish when the lines are aligned above/below the signal level respectively.
The forex-mt4-trend-indicator.ex4 is a trend indicator just as conveyed within its name, with its red arrows signifying a sell, while its blue arrows connote a buy signal.