Trending trading strategy ATR Stops with Magic FX
Trending trading strategy ATR Stops with Magic FX is based on two indicators, of which, in fact, the name of the strategy. The idea of the strategy is to generate signals to enter the market using the ATR Stops indicator and filtering by the Magic FX indicator.
Input parameters
- Currency pairs: basic
- Timeframe: M5 (only for the London session) and above. In this case, for each timeframe requires separate settings for the indicator ATR Stops and Reverse. The author recommends using the H1 timeframe for trading.
- Trading times: London, New York
- Risk management: after calculating the stop-loss, choose this lot sizeto risk no more than 2-5% of the deposit per transaction
Used indicators
ATR Stops and Reverse
- for the TF M5 (Time frame 15 min, Triple Exponential moving average, ATR period 10);
- for TF M15 (Time frame 30-60 min, Triple Exponential moving average, ATR period 10);
- for TF H1-H4 (Time frame 60 min, Triple Exponential moving average, ATR period 10).
Magic Fx (default settings)
Pivot points levels indicator.
Setting up the price chart
- Unpack the archive
- Copy the template into the templates folder
- Copy the indicators to the folder MQL4 -> indicators
- Restarting the terminal
- Open the chart of the desired currency pair
- Install the template named ATR stops with Magic FX
The schedule should look like this:
Signals indicating the opening of a long position
- ATR Stops line in green;
- a vertical blue line of the Magic FX indicator appeared.
Signals indicating the opening of a short position
- ATR Stops line in red;
- a vertical red line of the Magic FX indicator appeared.
Setting Stop Loss and Take Profit Orders
- stop loss is set at a distance of 2 points from the line indicator ATR Stops;
- Take Profit is set by the trend depending on the currency pair and timeframe. It is possible to close a position when the opposite signal appears or when the price reaches one of the pivot levels.
Trending trading strategy ATR Stops with Magic FX - is a fairly simple system, with simple and clear rules, which are available even to beginners traders. Before using the ATR Stops with Magic FX trend trading strategy on a real deposit, be sure to test it on demo account.
Download template and indicators of the ATR Stops with Magic FX trading strategy