Trending multicurrency strategy

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This is an interesting modification of the trading strategy, so simple and clear that even a beginner can master it. Like every trend strategy, it has its shortcomings, but this is good, there is something to strive for, and there is something to improve. So, to work we will need:

Upload the files to the appropriate folders and download the template. You will get something similar to this picture:

Trading strategy signals and chart appearance
Trading strategy signals and chart appearance

Rules of the trading strategy

Despite the fact that the author of the strategy proposes to open trades more often, not paying attention to the color of the weekly candle and the location of the price chart relative to it, the magazine ForTrader.org gives its version of this system, wanting to limit the reader from a large number of entries into the flute.

The rules for opening a buy deal:

1. The direction of the deal opening is determined by the previous weekly candle, which is reflected on the chart. If the candle is uptrending (green), we open the transaction only to buy.

2. trade signals are provided by the NonLagMA, Tema, or rather their intersection. If the price chart is below the previous weekly candle and Tema crosses NonLagMA upwards, we open a buy trade.

3. The NonLagMA and Tema indicators are redrawn on the current bar, so ForTrader.org magazine insists on opening a trade only after the signal is confirmed - on a new bar.

4. TakeProfit is set at 60 pips, StopLoss - 20 pips. We also recommend optimizing these parameters for each currency pair separately.

The rules for opening a sell deal are the opposite:

1. The previous weekly candle, which is reflected on the chart, determines the direction of the trade opening. If the candle is descending (red), we open trades only to sell.

2. trade signals are provided by indicators NonLagMA, Tema, or rather their intersection. If the price chart is above the previous weekly candle and Tema crosses NonLagMA downwards, then open a sell trade.

3. it is recommended to open a trade on a new bar.

4. TakeProfit is set at 60 pips, StopLoss - 20 pips. We also recommend to optimize these parameters for each currency pair separately.

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Комментарии ( 14 )

  3. The article raises a lot of questions, which leads to difficulties in using the strategy.
    1. What does "Timeframe: Weekly, H1" mean? When I switch to a weekly timeframe, the indicator desperately yells that the timeframe must be less than a MONTH!!!! I don't get it.
    2. In what other appropriate folders can I load indicators? In MT4 there is only one folder "Indicators", attached to the folder "Experts".
    3. The suggested indicator BumaSoft Higher Candle forms 5-hour candles, and there are no weekly candles. Or is it necessary to work with those?
    4. In the figure below the average red weekly candlestick clearly crossed indicator candlesticks to buy, and marked the opening of a position to buy only the next week.
    5. The text says "open trades", but the meaning of the article allows you to open only one trade per week, as the orientation of the weekly candle of the previous week applies. Or did I misunderstand something?

  4. Also. In the body of the red candlestick there are two buy signals, because the intersection of the curves below the last weekly candlestick, and the buy opening on them - an obvious blow. And in the last green weekly candlestick there is a buy signal, which for some reason is not taken into account, although all the conditions for opening a position are satisfied. So, it looks like a distorted strategy or the article contains not all that is necessary to work with it. By the way, when tested on a demo account with 5-hour candles signals work, but stop-loss and take-profit should definitely change, and for this pair "trawl".

  5. Hebler, I will try to help:
    1. The weekly chart is needed to draw these colored squares, or rather these are the weekly candles. The work is done on H1. This is why the indicator argues.
    2. The article is accompanied by a template and indicators, so they need to be placed in the appropriate folders.
    3. What makes you think that?
    4. When the weekly candle is red, we only open sell trades, so a buy trade is opened on the next signal.
    5. In spite of the fact that one trade is opened at a time, you will open them all at once in the course of work, that's why it is written so in the beginning of the strategy. But in point 3 of the description of buy and sell signals it is clearly written - one trade is opened.

    Regarding the second part of the question, I will repeat that the deals to buy are opened only in the green candle! The picture is also just a visualization of the situation, we do not want to show all the signals.

    There is nothing wrong with the strategy, please read the rules more carefully!

  6. Thanks for the detailed answer. Still, why does the BumaSoft Higher Candle indicator draw 5-hour candles on H1 instead of weekly candles? Maybe it needs to change some settings in its properties?

  7. By the way, I searched the web, and all sites that offer this indicator for download, the screenshots show the 5-hour candles, and not as you have with weekly.

  8. Probably these red and green candlesticks include a period of 4 hours, because all the squares cover 5 candlesticks. But the weekly candlesticks on the H1 timeframe cannot be set up in any way.

  9. And, oh miracle, I finished it (the strategy, I mean). The reason for the inability to insert weekly candlesticks was a crooked template. I downloaded it from, most likely, the author's website, replaced yours, and everything worked. And the correctness of the strategy has been confirmed, you can work. I want to say a special thanks for two additional indicators, the chart looks more fun.

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