NR Super Trend Forex Trading Strategy

Swing trading doesn’t necessarily need to be complicated in any way.

I have designed a very simple strategy using basic indicators that can be applied to a wide range of currency pairs.

However, this strategy should be deployed on the 1-Hour trading chart and above.

Chart Setup

MetaTrader4 Indicators: Non_Repainting_SuperTrend.ex4 (default setting), SEFC084.ex4 (Input Variable modified; period = 30)

Preferred Time Frame(s): 1-Hour, 4-Hour, Day, Week, Month

Recommended Trading Sessions: Any

Currency Pairs: Any pair

Download

Download the NR Super Trend Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy in the market if the following indicator or chart pattern gets displayed:

  1. If the blue upward pointing arrow of the Non_Repainting_SuperTrend.ex4 custom indicator forms on the price chart, it is an indication that price is bullish, hence a buy signal. The indicator also forms a blue dotted line below the candlesticks (refer to Fig. 1.0).
  2. If the deep sky blue bars of the SEFC084 custom indicator forms above the 0.00 signal level as seen on Fig. 1.0, the sentiment in the market is believed to be somewhat bullish i.e. a signal to go long on the pair of interest.

Stop Loss for Buy Entry: Place stop loss 2 pips below immediate support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit on orders if the following rules or conditions takes center stage:

  1. Wait for the Non_Repainting_SuperTrend.ex4 custom indicator to form a red downward pointing arrow during an upward as a valid trigger for weaning bulls pressure, hence an exit or take profit is highly recommended.
  2. If the SEFC084 custom indicator forms violet bars during a bullish signal, then we can say that the bullish trend is halting i.e. an exit or take profit is highly advised.

Sell Entry Rules

Enter a sell order if the following indicator or chart pattern get displayed:

  1. If the red downward pointing arrow of the Non_Repainting_SuperTrend.ex4 custom indicator forms on the activity chart, it is an indication that price is bearish, hence a sell signal. In addition to this signal is the formation of a red dotted line above the candlesticks (refer to Fig. 1.1).
  2. If the violet bars of the SEFC084 custom indicator forms below the 0.00 signal level as displayed on Fig. 1.1, the sentiment in the market is believed to be somewhat bearish i.e. a signal to go short on the pair of focus.

Stop Loss for Sell Entry: Place stop loss 2 pips above immediate resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following holds sway on the activity chart:

  1. If the Non_Repainting_SuperTrend.ex4 custom indicator forms a blue upward pointing arrow during a down trend, it is a signal that bears are halting their trades, hence an exit or take profit is highly recommended.
  2. If the SEFC084 custom indicator forms a deep sky blue bar during a bearish signal, then we can say that the bears are exiting their trades, hence an exit or take profit is highly advised.

Sell Trade Example

Fig. 1.1

Free Download

Download the NR Super Trend Forex Trading Strategy

About The Trading Indicators

The SEFC084 custom indicator is based on the SEFC indicators and is used to give traders direction to the prevalent market trend.

The Non_Repainting_SuperTrend.ex4 custom indicator was designed by Rajandran – Founder of Marketcalls.

It is a stable version of the original SuperTrend indicator.

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