Trend Finder Forex Trading Strategy

You want to make a trade, but remain unsure on the direction to take or the currency pair to adopt.

Here comes a free trading strategy that will help you do just that, all you need do is to plug the indicators on your chart and set the parameters.

The Trend Finder forex trading strategy is a well thought-out winning trading strategy for online currency traders on all levels with simple to follow buy and sell rules.

Learn how it works below:

Chart Setup

MetaTrader4 Indicators: trendcandlestick.ex4 (default setting), TrendFinder.ex4 (Input Variable Modified; SSP=10)

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

Download

Download the Trend Finder Forex Trading Strategy

Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following chart or indicator setup gets put on display:

  1. If the red line of the TrendFinder.ex4 custom indicator intersects its blue line bottom up as shown on Fig. 1.0, price is said to be pushed higher i.e. a signal to buy the designated currency pair.
  2. If the candlesticks become lime filled due to the trendcandlestick.ex4 custom indicator as depicted by Fig. 1.0, the market sentiment is said to be bullish i.e. a trigger to buy the stipulated fx 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 takes precedence:

  1. If the red line of the TrendFinder.ex4 custom indicator crosses its blue line in a top downward manner during a bullish trend, bulls are said to be taking a hit in the market, hence an exit or take profit is recommended.
  2. If a deep pink candle of the trendcandlestick.ex4 custom indicator pops up on the activity chart during a buy signal, it is a trigger to exit or take profit without delay.

Sell Entry Rules

Trigger a sell order if the following holds true:

  1. If the red line of the TrendFinder.ex4 custom indicator intersects its blue line top downward as seen on Fig. 1.1, price is said to be pushed lower i.e. a signal to sell the currency pair of interest.
  2. If the candlesticks become deep pink as a result of the trendcandlestick.ex4 custom indicator (refer to Fig. 1.1), the market sentiment is said to be bearish i.e. a trigger to sell the specified 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:

  1. If the red line of the TrendFinder.ex4 custom indicator intersects its blue line bottom up during a bears alert, price is said to be retracing off its bearish trend, hence an exit or take profit is advised.
  2. If a lime candle of the trendcandlestick.ex4 custom indicator pops up on the activity chart during a sell signal, it is a trigger to exit or take profit at once.

Sell Trade Example

Fig. 1.1

Free Download

Download the Trend Finder Forex Trading Strategy

About The Trading Indicators

The TrendFinder.ex4 custom indicator is a trend following technical study just as the name implies, and is comprised of two lines (red and blue), with buy/sell signals being triggered when the lines cross.

The trendcandlestick.ex4 custom indicator is a technical tool that fills the candlesticks with a deep pink (sell) and lime (buy) bars.

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