Hello everyone I'd like to welcome you to my thread. I want to share with you a great strategy that I have been trading for over one year now consistently. I have had pretty good success with this strategy, and providing you follow all the trade rules of the strategy you can also have good success.
This strategy is based off of trading trend reversals. It requires you to be very patient, and calm as confirmed set ups are few, but when there is a confirmed set up it will be profitable most of the time. There are 3 main indicators, and an SMA that are used for this strategy, I found them free online a long time ago, and found a way to make them work together successfully.
We will trade mainly on H4 chart, and D1 chart, although lower time frames can be used, but with lower accuracy, and higher risk, so its advised to do so with caution.
It is very important to make sure that all the indicators are in agreement for a confirmation of a trade, if not then it will reduce your probability of success.
Setting the SL & TP levels is a personal choice. For me when I do set a SL, I would normally set my SL at the previous swing high or low (previous Zig Zag Arrow) and I also pay close attention to the price action. The TP can be a fixed target (+50-100 pips) or using Fibonacci retractment, or when there is a new confirmed opposite signal to get maximum pips. I will monitor the price action the majority of the time, and get out if I see the trend is changing, and a new reversal forming. Please see below the trade rules:
Rules to buy:
A green Zig Zag Arrow will appear.
The MBFX Timing indicator is in the oversold zone (Below the 30% level) and indicating a green uptrend.
The Trend Line indicator is showing a green uptrend.
When the candle crosses, and closes above the 15 SMA up from below, and only if the trade is still confirmed by the 3 indicators.
Rules to sell:
A red Zig Zag Arrow will appear.
The MBFX Timing indicator is in the overbought zone (Above the 70% level) and indicating a red down trend.
The Trend Line indicator is showing a red downtrend.
When the candle crosses, and closes below the 15 SMA down from above, and only if the trade is still confirmed by the 3 indicators.
This strategy is based off of trading trend reversals. It requires you to be very patient, and calm as confirmed set ups are few, but when there is a confirmed set up it will be profitable most of the time. There are 3 main indicators, and an SMA that are used for this strategy, I found them free online a long time ago, and found a way to make them work together successfully.
We will trade mainly on H4 chart, and D1 chart, although lower time frames can be used, but with lower accuracy, and higher risk, so its advised to do so with caution.
It is very important to make sure that all the indicators are in agreement for a confirmation of a trade, if not then it will reduce your probability of success.
Setting the SL & TP levels is a personal choice. For me when I do set a SL, I would normally set my SL at the previous swing high or low (previous Zig Zag Arrow) and I also pay close attention to the price action. The TP can be a fixed target (+50-100 pips) or using Fibonacci retractment, or when there is a new confirmed opposite signal to get maximum pips. I will monitor the price action the majority of the time, and get out if I see the trend is changing, and a new reversal forming. Please see below the trade rules:
Rules to buy:
A green Zig Zag Arrow will appear.
The MBFX Timing indicator is in the oversold zone (Below the 30% level) and indicating a green uptrend.
The Trend Line indicator is showing a green uptrend.
When the candle crosses, and closes above the 15 SMA up from below, and only if the trade is still confirmed by the 3 indicators.
Rules to sell:
A red Zig Zag Arrow will appear.
The MBFX Timing indicator is in the overbought zone (Above the 70% level) and indicating a red down trend.
The Trend Line indicator is showing a red downtrend.
When the candle crosses, and closes below the 15 SMA down from above, and only if the trade is still confirmed by the 3 indicators.
