The halftrend foreign exchange trading technique pays through the currency market and can also be utilized as an intraday trading technique on higher time periods. The trading strategy utilizes two custom MT4 indicators.
Features
1. HalfTrend-1.02.ex4 (default settings) and GG-RSI-CCI.ex4(default settings) are the only two main MetaTrader 4 indicators required.
2. The recommended time frame for utilizing this strategy is five minutes, fifteen minutes, thirty minutes, one hour or four hours.
3. London open and New York open are appropriate trading sessions for utilizing this technique.
4. Currency crosses and gold are main currency pairs required.
Purchase Instance
Purchase Rules
The following rules or conditions are required for a purchase entry:
1. The HalfTrend indicator creates a Dodger blue upper facing arrow forth with a dodger blue lower spiked borderline that are both positioned beneath price candlesticks. Once this arrangement is noticed, we can begin a purchase positions.
2. The GG-RSI-CCI custom indicator creates equivalent yellow green candlestick within its indicator window, an indication that price pressure are in approval of an uptrend and as such a purchase entry is most appropriate.
Observe the stop-loss between five to twenty five pips at a distance from entry price (utilize small stop-loss for small time periods)
Take-Gain for Purchase Rule
The following conditions will determine our exit or take-gain strategy:
1. If the HalfTrend indicator creates a red downward facing arrow forth with a red upward spiked line that are both positioned higher up price candlesticks. This indicator arrangement determines a change in direction in the market and as such a take-gain or an exit should be started.
2. If the GG-RSI-CCI custom indicator creates golden candlesticks inside its indicator window, its signals decreased volatility thus leading to uncertainty in the market sessions.
Auction Rules
Begin an auction order when the following rules are observed on the activity chart:
1. The HalfTrend creates a red downward facing arrow forth with a red upward spiked borderline that are both positioned higher up price candlesticks. This arrangement predicts that price pressure approval downward side direction, as such position an auction order.
2. The GG-RSI-CCI custom indicator creates a corresponding orange red candlestick inside its indicator window, an indication that price pressure approves bears and as such an auction entry is advocated.
Position your stop-loss between five and twenty five pips at a distance from entry price.
Take-Gain for an Auction Entry
The following rules will determine an appropriate exit or take-gain strategy:
1. If the HalfTrend indicator creates a dodge blue upper facing arrow forth with a dodger blue lower spiked borderline that are both positioned beneath price candlesticks. This illustrates price is on its way back up and a take-gain or an exit would be achieved at this point.
2. In the course of a downward trend, if the GG-RSI-CCI custom indicator creates golden candlesticks inside its indicator window, it signifies a decreased volatility thus leading to uncertainty in the market sessions.
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.
