Trading the forex market could be a source of unlimited income for anyone. As long as you have the drive to learn it and the discipline to follow through on what you have learned, there is a very high chance that you could make money out of trading the forex market. However, forex is not for everyone. Most people either lack the discipline and the patience develop the skills and follow through on what they have learned.
To start with, after gaining the right attitude, a beginning trader should first have a strategy that could result in profits. Now, there are no Holy Grails in trading. There are no perfect strategies. Only strategies that work when used at the right time and condition. The Trend Trigger Magic Forex Trading Strategy is one which could help gain some profits when used in a trending market environment. It works well when traded on markets that have a strong tendency to trend. This is a strategy that you might want to try out as part of your trading arsenal.
Trend Magic Indicator
Table of Contents
The Trend Magic indicator is one of the best trend following indicators for traders. It is simple and easy to use which any trader could easily understand. In spite of its simplicity, it still manages to provide reliable signals that has a high probability of resulting into long trends.
This indicator is trend following indicator based on the Commodity Channel Index (CCI) and the Average True Range (ATR). Based on the computations derived from the CCI and the ATR, the indicator draws a line on the price chart. The indicator then changes colors depending on the direction of the trade that it is detecting. Blue lines indicate a bullish trend while red lines indicate a bearish trend direction.
Trend Trigger Mod
The Trend Trigger Mod indicator is also another custom momentum indicator which is very versatile and could be used by many traders. It is an oscillating indicator which follows the movements of price action smoothly.
This indicator could be used by both Mean Reversal and Momentum traders. Mean Reversal traders could make use of this indicator because it is an oscillating indicator with overbought and oversold markers. The oversold territory is marked by a red dashed line while the overbought territory is marked by the blues dashed line. Traders could consider the market reversing from these overextended market conditions whenever the lines drive back towards the midline coming from these areas.
On the other hand, Momentum traders also use this as an indication of a probable trend reversal. Crossovers of its midline indicates a probable trend reversal. However, other traders would also use the break outside the area between the blue and red lines as an indication of the start of a strong momentum trend.
This strategy is all about a confluence of two complementary trend indicators. The Trend Magic and Trend Trigger Mod indicator are two indicators that seem to work well even as standalone indicators. They both have the capacity to produce trade signals that has a high probability of resulting in a trend. At the same time, these indicators could also produce non-lagging trade signals allowing traders to catch trades near the start of a trend. However, when used in combination with each other, trade signals become more refined and tend to produce better yields.
Entry signals are based on the trend reversal indications of both indicators. Trades are considered whenever there is a confluence of the Trend Magic indicator changing color and the Trend Trigger Mod crossing over the midline.
- Trend Magic
Timeframe: 15-minute, 1-hour, 4-hour and daily charts
Currency Pairs: major and minor pairs
Trading Session: Tokyo, London and New York sessions
Buy Trade Setup
- Price should cross and close above the Trend Magic indicator line
- The Trend Magic line should change to blue indicating a bullish trend reversal
- The Trend Trigger Mod indicator line should cross above zero indicating a bullish trend reversal
- These bullish trend reversal signals should be somewhat aligned
- Enter a buy order on the confluence of the conditions above
- Set the stop loss on the support level immediately below the entry candle
- Close the trade as soon as the Trend Magic line changes to red
- Close the trade as soon as the Trend Trigger Mod line crosses below zero
Sell Trade Setup
- Price should cross and close below the Trend Magic indicator line
- The Trend Magic line should change to red indicating a bearish trend reversal
- The Trend Trigger Mod indicator line should cross below zero indicating a bearish trend reversal
- These bearish trend reversal signals should be somewhat aligned
- Enter a sell order on the confluence of the conditions above
- Set the stop loss on the resistance level immediately above the entry candle
- Close the trade as soon as the Trend Magic line changes to blue
- Close the trade as soon as the Trend Trigger Mod line crosses above zero
This strategy is a robust trend following strategy based on the confluence of two high quality trend following indicators. Trade signals produced by this strategy has a good chance of resulting in trends.
This strategy works best on markets that has a very high probability of trending. These are volatile markets where market sentiments are quickly followed by many traders. It is also best when paired with a price action signal such as breakouts of supports and resistances. Trading this strategy in the right market condition and at the right time could result in huge gains.
Forex Trading Strategies Installation Instructions
Trend Trigger Magic Forex Trading Strategy is a combination of Metatrader 4 (MT4) indicator(s) and template.
The essence of this forex strategy is to transform the accumulated history data and trading signals.
Trend Trigger Magic Forex Trading Strategy provides an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust this strategy accordingly.
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How to install Trend Trigger Magic Forex Trading Strategy?
- Download Trend Trigger Magic Forex Trading Strategy.zip
- *Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Right click on your trading chart and hover on “Template”
- Move right to select Trend Trigger Magic Forex Trading Strategy
- You will see Trend Trigger Magic Forex Trading Strategy is available on your Chart
*Note: Not all forex strategies come with mq4/ex4 files. Some templates are already integrated with the MT4 Indicators from the MetaTrader Platform.
Click here below to download: