High accuracy Forex Great Trend Trading System with Paint Bar Forex Metatrader Indicator – This is a simple trend following Forex Strategy. Based on high accuracy metatrader indicators. The goal of this strategy is to win on the long trend.
Pips 4 Idiots Color Indicator (is a paint bar forex metatrader indicator). Then open up a 1 Hour or 4 Hour chart of any currency pair that you would like the Pips 4 Idiots Color Indicator to run on. It runs well on 1H or 4H charts.
When you see a blue bar, enter/buy the currency pair and when you see the red bar, exit/sell the currency pair. You should probably start off with a smaller lot size, such as .1 or .05. See image below for example:
The goal of this Forex Trend Trading System with Paint Bar Forex Metatrader Indicator is to win on the long trend.
Best Time Frame : h1 or higher.
Currency pairs : any (Best Time Frame 4h or Daily ).
- Trend Direction Indicator;
- Pips 4 Idiots Color Indicator;
- Pips 4 Idiots Bonus;
- Non Lag Moving Average;
- MACD MTF in Color.
Trade only in direction of the trend.
- Trend Direction Buy Arrow;
- Trendline color blue;
- Non LAG MA color blue and above blue trendline;
- MACD bar green above 0.05 line;
- MACD line up trend and above 0 line.
- Trend Direction indicator Sell Arrow;
- Trendline color red.
- Non LAG MA color yellow and above red trendline;
- MACD bar red below -0.05 line;
- MACD line down trend and below 0 line.
- At opposite Arrow.
- Stop loss predetermined examples: Time Frame 4H: 50 pips AUD/USD, 50 pips EUR/USD, 40 pips USD/CHF, 60 pips USD/GBP GBP/GPY;
- Stop loss: Time Frame Daily 100 pips AUD/USD 120 pips EUR/USD, 110 pips USD/CHF, 150 pips GBP/USD amd GBP/GPY;
- Initial Stop loss on the previous swing after 100 pips in gain, move position at entry point (4H time frame, daily time frame after 250 pips in gain, move position at entry point.
- Profit Target optional 1:3 ratio stop loss.
Note: Once you have entered a trade, I typically have a max stop loss of between 15-20 pips (time frame 1H). In other words, if I’m on the losing side of a trade (hardly ever happens with this indicator) by a margin of 15-20 pips, I usually exit out the trade and take the loss to prevent a greater loss. However, whenever you are on the winning side, exit the trade when you see the red bar.
To have a better chance of winning make sure that the color of the bars on the chart are the same as for 1H to 4 H.