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Forex Trend Following Trading Strategy

The forex trend following trading strategy is a simple trading system that is very potent in the hands of a diligent trader. The system is a bulls and bears signal delivery system that combines with the Forex Analyzer Pro Indicator.

Chart Setup

MetaTrader4 Indicators: SEFC05.ex4 (default setting), Forex Analyzer Pro (default setting)

Preferred Time Frame(s): 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Recommended Trading Sessions: New York | London

Currency Pairs: Majors & Minors (EUR,CHF, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, NZD/USD)

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Download The Forex Trend Following Trading Strategy

Buy Example (click the image for full size):

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Fig. 1.0

Strategy

Long Entry Rules:

Chart and indicator patterns should be closely observed for changes:

  1. The green Forex Analyzer Pro indicator arrow points upward, signaling a bullish signal.
  2. A bullish candle opens and closes above the SEFC05 custom indicator with lime colored histograms.

Looking at the chart on Fig. 1.0, you’ll find series of green Forex Analyzer Pro arrows appearing below price bars as we trend along. There’s nothing to panic about here, as they’re supporting signals that seems to give more weight to the current bullish signal.

The green arrows are only saying, “Stay on the trade, the bullish trend is still on.”

Stop Loss for Long Entry: Stop loss should be placed on either the S1 or S2 Forex Analyzer Pro’s indicator level based on your personal money management strategy.

Exit Strategy/Take Profit for Long Entry:

Watch out for the following indicator patterns or chart patterns:

  1. If a red Forex Analyzer Pro indicator arrow that points downward appears above the price bar, it is an indication of a possible reversal in trend and the indicator is saying to you “pack up your profits and leave.”
  2. Look out for a complete bearish candle stick formation below the SEFC05 custom indicator (usually the SEFC05 custom indicator histogram turns orange and is aligned above price bars).

Sell Entry Rules:

Enter a sell position(s) when the following indicator/chart patterns are in place:

  1. If a red Forex Analyzer Pro arrow forms above price bars, it signals a bears market.
  2. If a bearish candlestick opens and closes below the orange colored “SEFC05” custom indicator’s histogram.

Stop Loss for Long Entry:  Place stop loss on R1 or R2 Forex Analyzer Pro’s indicator level in line with your personal money management strategy.

Exit Strategy/Take Profit for Long Entry:

You probably should consider exiting a position when the following conditions are in place:

  1. If a green “Forex Analyzer Pro” custom indicator arrow forms below price bar pointing upward.
  2. If a bullish candle stick opens and closes above the lime colored histogram of the “Forex Analyzer Pro” custom indicator.

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Fig. 1.1

N.B. Point “A” and Point “B” were marked out on our chart are point in which one of our conditions for exit were fulfilled. They say trading is not for the faint hearted, if you jumped out of the trade without confirming both conditions for exit/take profit as stated above, then you must have missed out on the eventual pips rain.

Free Download

Download The Forex Trend Following Trading Strategy

About The Trading Indicators

The Forex Analyzer Pro custom indicator draws support and resistance levels coupled with its green upward and red downward pointing arrows that are employed in buy or sell signal generation respectively.

The SEFC05 custom indicator is a Buy and Sell trading indicator. The SEFC05 is designed around two moving averages, thus allowing the indicator to smooth price, thereby forming a trend following indicator.

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