- Platform: Metatrader4
- Asset: Any currency pair, indices and stocks
- Trading Time: Around the clock
- Timeframe: Any, recommended M1 and M5
- Expiry: 1 candle and more (can be set in the indicator settings)
We have a yellow dot and the candle is in the red zone. We enter the trade with the open of the next candle for 30 minutes. As you see we have won the trade.
As you can see we had several more trading opportunities after that entry but I did not trade ones because the price was not in the red. You can still trade and win these signals but I recommend you waiting for high probability setups when our entry criteria are met.
Ok. This is an example of a pullback trade. As you see we are in the downtrend now. The price goes in the red zone and we have a yellow dot. I entered the trade at the open of the candle with the word
ENTRY. The yellow dot was under the candle before my entry candle but then it repainted as the price went lower by forming a lower low (that candle with yellow dot). So my actual entry candle is underlined with the small black line. As you see this was a winning pullback signal.
Please look to the left of the screenshot. Do you see the upward movement? Ok. Once it is done the price went to consolidation. In other words it started ranging. Then our HolyChannel indicator showed us a possibility of continuation of the previous upward movement by turning the channel upwards. I marked my entry with the ENTRY word to the right of the screenshot. We have a yellow dot, the price is in the red.
We enter at the beginning of the next candle. By the way it was a winning signal.
TREND FLOW TRADE
I want to show you one more very interesting type of trade. I call it a trend flow trade. In simple words you trade with the trend.
So this is the same screenshot with the pullback trade. But please look above. Do you see the letters TF?
These are trend flow trades. As for this type of trades we may ignore the yellow dots. All we need is just to make sure that the price is in the red zone. So when our HolyChannel indicator shows us the downward movement all we need is to wait when the price gets into the red zone like on the screenshot above and then we open a trade with the trend direction. These are very powerful trades. I like online forex trading.
ones so much. They say trend is your friend. I fully agree with this famous statement.
Please note! When we are in the trend it is still better to trade in the direction of the trend than taking pullback trades as the trend flow trades are of higher accuracy.
This strategy is based on recalculating indicators. To have more stability I added wave trend.