On the commencement of your forex trading adventure, you’re certainly going to encounter a vast number of trading strategies.
This would open you up to just how plain useless some strategies can be and the efficacy of others.
The Fratelli Signals forex trading strategy falls in the category of efficient trading strategies and has proven itself to be useful and profitable.
Chart Setup
MetaTrader4 Indicators: forexsignals.ex4 (Colors Width Modified; #4=3, #5=3), Fratelli_MACD.ex4 (Default Setting)
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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Download the Fratelli Signals Forex Trading Strategy
Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Initiate a buy order if the following indicator or chart setup is put on display:
- If the yellow upward pointing arrow of the forexsignals.ex4 custom MT4 indicator gets placed slightly below the candlesticks as seen on Fig. 1.0, price is said to be taken higher i.e. a trigger to buy the listed currency pair.
- If the lime dotted line of the Fratelli_MACD.ex4 custom indicator is seen above the 0.00 level as indicated within its window (refer to Fig. 1.0), it is a signal to buy the specified forex pair.
Stop Loss for Buy Entry: Place stop loss 1 pip below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions holds sway:
- If the forexsignals.ex4 custom MT4 indicator forms a red downward pointing arrow that is position fairly above price bars, it is pointing to weaning bulls power, hence an exit or take profit will suffice.
- If the dotted line of the Fratelli_MACD.ex4 custom indicator dips below the 0.00 level (apparently turning magenta) as shown on Fig. 1.0, price is said to be making a reversal away from its earlier buy stance, hence an exit or take profit is recommended.
Sell Entry Rules
Enter a sell order if the following becomes consistent with the activity chart:
- If the red downward pointing arrow of the forexsignals.ex4 custom MT4 indicator gets placed slightly above price bars as depicted on Fig. 1.1, price is said to be pushed lower i.e. a trigger to go short on the fx pair of interest.
- If the magenta dotted line of the Fratelli_MACD.ex4 custom indicator is seen below the 0.00 level within its window as specified on Fig. 1.1, it is a signal to sell the designated forex pair.
Stop Loss for Sell Entry: Place stop loss 1 pip above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the forexsignals.ex4 custom MT4 indicator forms a yellow upward pointing arrow that is position fairly below price bars, an exit or take profit is duly advised.
- If the dotted line of the Fratelli_MACD.ex4 custom indicator surges above the 0.00 level (apparently turning lime) as shown on Fig. 1.1, more bears are said to exiting their positions, hence an exit or take profit is recommended.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The Forexsignals.ex4 custom indicator is a trend indicator that delivers buy and sell signals via its yellow and red arrows respectively.
The arrows come with an attached star that is filled with the same color as the arrow.
The Fratelli_MACD.ex4 is a custom indicator that is centered on the common MACD (Moving Average Convergence-Divergence) indicator.
The indicator is able to measure the strength or weakness of market trend.