Traders often look for tools, indicators, strategies and techniques that will help them maximize their profits. This is the whole point why we are trading. We would want to gain as much profits as we want with the least amount of drawdown. We would want to gain 10%, 20% or even more while having drawdowns of less than 5%. This is the essence of profitable trading. Others on the other hand are content with gaining 3% to 5% while experiencing drawdowns of 10% or more. Although traders could still be profitable this way, but this is not an efficient way to profit from the market.
So, how do we gain profits from the forex markets while still maintaining low drawdowns? One way is by increasing our accuracy. This means aiming for more wins compared to losses.
One of the best ways to increase accuracy is by trading on confluences. Confluences are points on a price chart where there are two or more indications coming from different sources that price is moving in a certain direction. Let us say for example you have three indicators. A MACD, and RSI and a moving average line. Based on a set of rules you are using all three indicators point that price is moving up. This is what is called a confluence. If you are using a set of rules that does have an edge, there is a higher chance that price will move up rather than move down.
Win Max Pips Forex Trading Strategy is a strategy that trades on confluences. It uses high probability indicators which is based on confluences thus producing high probability trade setups.
Table of Contents
WINMAXPIPS is a custom trend following indicator which helps traders identify the direction of the trend.
It is an oscillator type of indicator which plots bars and arrows on a separate window. Positive bars with lime arrows pointing up indicate a bullish trend bias. On the other hand, negative bars with red arrows pointing down indicate a bearish trend bias.
Traders can use this indicator to identify trend direction and bias, then filter out trades that are not aligned with the current trend bias direction.
Traders can also use this indicator to identify possible trend reversals and use it as a basis to enter a trade. Traders can do this by trading on points where the bars shift from negative to positive or vice versa. However, this should be traded in confluence with another highly reliable trend reversal signal.
Indicator Arrows is a trend following indicator which provides trend reversal signals based on confluences of various indicators.
The Indicator Arrows signal is based on a variety of underlying indicators, which includes moving averages, Moving Average Convergence and Divergence (MACD), Oscillator of Moving Averages, Stochastic Oscillators, Relative Strength Index (RSI), Commodity Channel Index (CCI), Relative Vigor Index (RVI), and the Average Directional Movement Index (ADX).
This indicator plots arrows based on confluences coming from the indicators mentioned above. Since the indicator signals are based on confluences of various indicators which are widely used, the resulting signals produced by the Indicator Arrows are high probability trend or momentum reversal signals. When used with a highly reliable trend direction filter, this indicator can do wonders.
This trading strategy produces trade setups whenever the Indicator Arrows signal is generated while the WINMAXPIPS indicator is exhibiting a trending market condition.
To identify a trend, we will be observing how the WINMAXPIPS indicator is behaving. If the WINMAXPIPS bars are constantly staying positive for some time, then the market is considered bullish. If the WINMAXPIPS bars are constantly staying negative, then the market is considered bearish.
Price action should also exhibit the trend direction as indicated by the WINMAXPIPS indicator. This is based on the trend pattern exhibited by the swing highs and swing lows of price action.
As soon as the trend is established, we could then wait for the Indicator Arrows signal to be plotted. Signals that are aligned with the trend will be considered as a valid trade setup.
Preferred Time Frames: 30-minute, 1-hour and 4-hour charts
Currency Pairs: FX majors, minors and crosses
Trading Sessions: Tokyo, London and New York sessions
Buy Trade Setup
- The WINMAXPIPS bars should be positive.
- Price action should be producing higher swing highs and swing lows.
- An upward pointing arrow should be plotted by the Indicator Arrows.
- Enter a buy order on the confirmation of the conditions above.
- Set the stop loss on the fractal below the entry candle.
- Close the trade as soon as the Indicator Arrows plots an arrow pointing down.
Sell Trade Setup
- The WINMAXPIPS bars should be negative.
- Price action should be producing lower swing highs and swing lows.
- A downward pointing arrow should be plotted by the Indicator Arrows.
- Enter a sell order on the confirmation of the conditions above.
- Set the stop loss on the fractal above the entry candle.
- Close the trade as soon as the Indicator Arrows plots an arrow pointing up.
This trading strategy is works best when traded in a market that is clearly trending.
The Indicator Arrows signals are highly reliable trade signals. However, signals that go against the flow of a trend tend to produce short momentum bursts that can reverse instantly. Trade signals that are traded with the trend to be very reliable.
The WINMAXPIPS indicator improves the reliability of the signals by filtering out trades that are not aligned with main trend.
Traders who can identify a good trending market can use these signals to trade with high entry and exit accuracy.
Forex Trading Strategies Installation Instructions
Win Max Pips 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.
Win Max Pips 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 Win Max Pips Forex Trading Strategy?
- Download Win Max Pips 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 Win Max Pips Forex Trading Strategy
- You will see Win Max Pips 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.
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