The Parabolic Cronex forex trading strategy is made up of two trading indicators and delivers good results in the long-term.
This strategy can be used for scalping, day trading and swing trading on any timeframe.
MetaTrader4 Indicators: Parabolic SAR.ex4 (Parameters modified; Step=0.003), Cronex_T_DeMarker_GFC.ex4 (Inputs Variable Modified; DeMarker=36, DeMStep=8)
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
Buy Trade Example
Long Entry Rules
Enter a buy order if the following indicator or chart pattern gets put on display:
- If the lime dotted line of the Parabolic SAR gets seen below price bars as shown on Fig. 1.0, a buy signal is said to be in place.
- If the blue upward pointing arrow along with the red and green histograms of the Cronex_T_DeMarker_GFC indicator gets positioned above the 0.00 level as seen on Fig. 1.0, it is a trigger to buy the fx pair of interest.
Stop Loss for Buy Entry: Place stop loss below long-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes center stage:
- If the Parabolic SAR indicator realign to form a lime dot above the candlesticks, it is signaling a possible reversal i.e. a trigger to exit or take profit at once.
- If a red downward pointing arrow of the Cronex_T_DeMarker_GFC indicator or a histogram (green or red) gets seen below the 0.00 level, an exit or take profit is recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the lime dotted line of the Parabolic SAR gets placed above the candlestick bars (refer to Fig. 1.1), a sell alert is said to be trending.
- If the red downward pointing arrow along with the red and green histograms of the Cronex_T_DeMarker_GFC indicator gets positioned below the 0.00 level as shown on Fig. 1.1, a sell signal is said to be in the offing.
Stop Loss for Sell Entry: Place stop loss above long-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the Parabolic SAR indicator realign to form a lime dot below price bars, it is signaling a possible trend reversal i.e. a trigger to exit or take profit straightaway.
- If a blue upward pointing arrow of the Cronex_T_DeMarker_GFC indicator or a histogram (green or red) gets seen above the 0.00 level (check Fig. 1.1), an exit or take profit is advised.
Sell Trade Example
About The Trading Indicators
The Cronex_T_DeMarker_GFC.ex4 custom indicator however, is a modification of the DeMarker indicator with additional color indication based on the histogram.
The Parabolic SAR is a technical indicator that was created the renowned technician Welles Wilder, and is used by a lot of traders to gauge the direction of an asset’s momentum.
The indicator is depicted by series of dots that are placed either above or below an assets candlestick on its chart.