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!
Chart Setup
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)
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Buy Trade Example
Fig. 1.0
Strategy
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
Fig. 1.1
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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.