The Secret Half Trend forex trading strategy is a trend following strategy that generates good win/loss ratio buy and sell signals for any currency pair of your choice.
The indicators that make up the system are so simplified, thus giving traders accelerated knowledge required to detect trend formations on the account of the buysell5secret MT4 indicator and spot trend reversals via the buysell5secret custom indicator.
Chart Setup
MetaTrader4 Indicators: HalfTrend-1.02.ex4 (Inputs Variable Modified; Amplitude-12), buysell5secret.ex4 (Inputs Variable Modified; SignalPeriod=60, Dee_period=76, FilterNumber=3.0)
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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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets put on display:
- If the dodger blue upward pointing arrow of the HalfTrend-1.02 custom indicator along with its lower spiked indicator line gets aligned fairly below price bars as depicted on Fig. 1.0, a buy signal is said to be imminent.
- If a blue upward pointing arrow that rest just below the blue line of the buysell5secret custom indicator (see Fig. 1.0), price is said to be driven higher i.e. an alert to buy the designated forex pair. The buysell5secret custom indicator sets up a corresponding blue bigger upward pointing arrow aligned just below the candlesticks.
Stop Loss for Buy Entry: Place stop loss below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If the HalfTrend-1.02 custom indicator displays a red downward pointing arrow placed slightly above price bars, bull power is said to be weaning i.e. a trigger to exit or take profit at once.
- If the line of the buysell5secret custom indicator turns yellow within the indicator window, along with a red downward pointing arrow and a corresponding bigger red downward pointing arrow on the activity chart, price is said to be making a U-turn, 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 of the HalfTrend-1.02 custom indicator along with its upper spiked indicator line gets aligned somewhat above price bars as shown on Fig. 1.1, a sell alert is said to be forthcoming.
- If a red downward pointing arrow that rest just above the yellow line of the buysell5secret custom indicator (see Fig. 1.1), price is said to be taken lower i.e. an alert to sell the selected forex pair. The buysell5secret custom indicator sets up a corresponding red bigger downward pointing arrow aligned just above the candlesticks.
Stop Loss for Sell Entry: Place stop loss above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes to the fore:
- If the HalfTrend-1.02 custom indicator displays a dodger blue upward pointing arrow placed slightly below price bars, bear power is said to be halting i.e. a trigger to exit or take profit forthwith.
- If the line of the buysell5secret custom indicator turns blue within the indicator window, along with a blue upward pointing arrow and a corresponding bigger blue upward pointing arrow on the activity chart (see Fig. 1.1), price is said to be making a U-turn away from its earlier stance, hence an exit or take profit will do.
Sell Trade Example
Fig. 1.1
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About The Trading Indicators
The HalfTrend-1.02 custom indicator defines reversal within the market, and it does so by combining an upward dodgerblue upward facing arrow along with a downward spiked line place below price bars to signal a buy, while a downward pointing red arrow with an upward spiked line aligned above price signals a sell.
The buysell5secret custom indicator deploys a triple alert system to confirm a signal i.e. an arrow in the chart window, color change on the indicator line and another arrow attached to the line indicator within the indicator window.