T3 Long Forex Trading Strategy

The T3 Long Forex Trading Strategy scans the currency market for early trends and trend changes via a method that combines two groups of moving averages with varying time periods.

The T3 strategy keeps you trading in the profitable direction of the trend while minimizing your losses.

Chart Setup

MetaTrader4 Indicators: MUV.ex4 (Colors Width Modified; #0=2, #1=2), GMMA_Long.ex4 (Default Setting), FX Sniper’s T3 CCI.ex4 (Inputs Variable Modified; CCI_Period=28)

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:

  1. If the blue lines of the GMMA_Long.ex4 custom indicator intersect the red line of the MUV MT4 indicator in a bottom up fashion as depicted on Fig. 1.0, price is said to be pushed higher, as such a buy alert will suffice.
  2. If the blue line and green histograms of the FX Sniper’s T3 CCI custom indicator break above the 0.00 level as seen on Fig. 1.0, the overall market sentiment is said to be bullish, hence a trigger to go long on the designated forex pair.

Stop Loss for Buy Entry: Place stop loss 3 pips below short-term support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If price closes below the blue lines of the GMMA_Long.ex4 MT4 indicator while a buy signal is running, an exit or take profit is advised.
  2. If the blue line of the FX Sniper’s T3 CCI custom indicator dip below the 0.00 level during a buy signal as depicted on Fig. 1.0, more bulls are said to be closing their positions, as such an exit or take profit is recommended.

Sell Entry Rules

Enter a sell order if the following holds sway:

  1. If the blue lines of the GMMA_Long.ex4 custom indicator intersect the red line of the MUV MT4 indicator in a top downward manner as shown on Fig. 1.1, price is said to be driven lower, as such a sell signal is looming.
  2. If the blue line and red histograms of the FX Sniper’s T3 CCI custom indicator gets aligned below the 0.00 level as illustrated on Fig. 1.1, the overall market sentiment is said to be bearish, hence a trigger to go short on the selected FX pair.

Stop Loss for Sell Entry: Place stop loss 3 pips above short-term resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes to the fore:

  1. If price closes above the blue lines of the GMMA_Long.ex4 MT4 indicator while a sell signal is ongoing, an exit or take profit will do.
  2. If the blue line of the FX Sniper’s T3 CCI custom indicator surges above the 0.00 level during a sell alert as exemplified on Fig. 1.1, more bears are said to be closing their positions, hence a trigger to exit or take profit at once.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

The MUV.ex4 custom indicator is a Tom Demark (TD) Moving Average indicator for MetaTrader4 and defines the logical locations for introducing stop loss orders or closing a trade, which clearly defines how the creator Tom Demark explains the TD Moving Average indicator.

GMMA_Long.ex4 indicator is a variant of the Guppy Multiple Moving Averages (GMMA) and is deployed in spotting changing trends, via a method that combines two groups of moving averages with varying time periods.

The FX Sniper’s T3 CCI.ex4 custom mt4 indicator is trend-momentum that is based on the Commodity Channel Index (CCI), the indicator can be used in generating intraday signals.

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