Trigger Magic Forex Trading Strategy
The Trigger Magic forex strategy is built to take advantage of early trend direction on any currency pair and trading the early trend simply means more profits!
It combines a trend following line indicator with an accurate oscillator for trade entry and take profit signals.
Learn and download this strategy for free below:
MetaTrader4 Indicators: Trend Magic.ex4 (Input Variable Modified; CCI=40), TrendTriggerMod.ex4 (Default Setting)
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
Initiate a buy entry if the following indicator or chart setup is put on display:
- If the Trend Magic custom MT4 indicator line turns blue with price trading somewhat above, the market sentiment is said to be bullish, as such a buy entry is advised.
- If the cadet blue line of the TrendTriggerMod.ex4 custom indicator surges and stays above the 0.00 level as seen on Fig. 1.0, price is said to be pushed higher i.e. a signal to buy the stipulated currency pair.
Stop Loss for Buy Entry: Place stop loss below the rising blue line.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a buy signal is running the Trend Magic custom MT4 indicator line turns red (refer to Fig. 1.0), bulls are losing their steam, hence an exit or take profit will suffice.
- If the cadet blue line of the TrendTriggerMod.ex4 custom indicator dips below the 0.00 level, it is indicative of weaning bulls power, as such an exit or take profit is recommended.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the Trend Magic custom MT4 indicator line changes to red with price trading somewhat below, the market sentiment is said to be bearish, hence it is wise to enter sell order(s).
- If the cadet blue line of the TrendTriggerMod.ex4 custom indicator dips and hovers below the 0.00 level as shown on Fig. 1.1, price is said to be pressured lower i.e. a signal to sell the designated forex pair.
Stop Loss for Sell Entry: Place stop loss above the falling red line.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If during a sell alert the Trend Magic custom MT4 indicator line turns blue, more bears are exiting their positions in the market, as such an exit or take profit will do.
- If the cadet blue line of the TrendTriggerMod.ex4 custom indicator rises above the 0.00 level, it is indicative of halting bears power, hence an exit or take profit is advised.
Sell Trade Example
About The Trading Indicators
The Trend Magic custom indicator is a trend following indicator that combines both the CCI and the ATR indicators.
The TrendTriggerMod.ex4 is a custom indicator that is used to define trend power and direction.