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Piranha Forex Trading Strategy

The Piranha Forex Trading Strategy combines Forex Analyzer PRO, DMX and the hull moving average to deliver accurate buy/sell forex trading signals. One unique feature that this indicator has is its ability to predict a trend and hold its ground through false signals in the market.

Chart Setup

MetaTrader4 Indicators: Forex Analyzer PRO, DMX.ex4 (default setting), Hull-Moving-Average.ex4 (default setting)

Preferred Time Frame(s): 5-Minutes, 15-Minutes 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Recommended Trading Sessions: Any

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

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Buy Example (click the image for full size):

piranha-forex-tradingstrategy1

Fig. 1.0

Strategy

Long Entry Rules:

A long position is initiated when the following indicator patterns are displayed on the chart:

  • The Forex Analyzer PRO indicator displays its green arrow(s) pointing upward, this is a buy signal.
  • When a bullish candle opens and closes above the blue colored Hull-Moving-Average custom indicator, this is also a buy signal.
  • Check with the DMX custom indicator for pattern that resembles lime colored histogram above the 0.00 mark – a buy entry signal.

Stop Loss for Long Entry: based on money management strategy, you can chose to place your stop loss below the entry on S1 or S2 technical levels as plotted by the Forex Analyzer PRO indicator.

Exit Strategy/Take Profit for Long Entry:

The following chart patterns suggest that the current trend is weakening or is about to take a turn:

  • Watch out for the Forex Analyzer PRO indicator downward facing red arrow aligned above price bars. Once this appears on the chart, positions should be liquidated or activate trailing stops to lock in profits.
  • Confirm that the blue Hull-Moving-Average custom indicator line changes to red or a bearish candle opens and closes below the Hull-Moving-Average line irrespective of the color.
  • If the aqua colored line of the DMX indicator crosses the 0.00 mark downward, it indicators a possible change in trend and locking in your profits should be of paramount.

N.B. While on a trend, if the same arrow for the Forex Analyzer PRO  indicator appears i.e. green and pointing upward, it only reaffirms that the buy signal is keeping pace and as such you should remain in the trade.

Sell Entry Rules:

Take seriously the following indicator patterns and initiate short position(s) when they’re seen on the chart:

  • The Forex Analyzer PRO indicator displays its red arrow pointing downward, denoting a sell signal.
  • Bearish candle opens and closes below the red colored Hull-Moving-Average indicator.
  • The DMX custom indicator forms red histogram below the 0.00 mark, indicating that a sell is underway.

Stop Loss for Sell Entry: Depending on the adoptable money management techniques, stop loss should be place on R1/R2.

Exit Strategy/Take Profit for Sell Entry: The exit strategy on a position(s) is triggered when the following indicator patterns are displayed on the chart:

  • If the green Forex Analyzer PRO indicator arrow appears below price bar and is pointing upward.
  • Watch for the Hull-Moving-Average line, and wait until it turns blue, with the first bullish candle opening and closing above the Hull-Moving –Average line.
  • Monitor the DMX custom indicator, if the aqua line crosses the 0.00 mark pointing upward, then it indicates a short position that is losing steam, and you should think about exiting.

piranha-forex-tradingstrategy2

Fig. 1.1

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About The Trading Indicators

The Forex Analyzer PRO indicator plots support and resistance levels in addition to its green upward and red downward pointing arrows that are used to indicate bullish and bearish trend respective.

The DMX indicator is built on the smooth, low-lag, bipolar version of DMI MT4 indicator and offers less noise, couple with better timing when delivering signals.

The Hull-Moving-Average is a popular trend following indicator that is designed on the moving averages with period 21. Its tries to remove lag altogether and succeeds in enhancing smoothing concurrently.

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