Trend Magic Simple and Effective Forex Intraday Trading Strategy Based on High Accuracy Different Signals (Intraday)

Forex Trend Magic Intraday Trading is a Simple and Effective Forex Intraday Trading Strategy Based on High Accuracy Different Signals.

 
Trend Magic is a custom indicator that combines CCI and ATR in what turns to be quite similar to a moving average in the chart. Simple, the line turns red when CCI readings are below -50 (which points for a dominant bearish trend) and blue, when CCI is above 50, suggesting then a bullish continuation in the pair. The ATR indicator is added to step the line towards the price.

 

Despite it could be use to set a trading strategy by itself, a filter should be added to this indicator, preferably a trend indicator to confirm the bias. I recommend an ADX with trend confirmation on readings above 15M.

The basic trading strategy with this indicator is waiting for a color change. If the indicator is blue and turns red, a candle opening below it, will point for a sell, while if red, and turning blue, a candle opening above the indicator is necessary to buy the cross under study. Is also useful to set stops, as a color change, or a candle opening in the opposite side of the indicator, will suggest we are in the wrong side of the market, and a trend change is nearby.

The main disadvantage is that it usually repaints, and waiting one extra candle to take the trend may catch us near a top or a bottom.

Filtering with mentioned ADX could be a solution for this, and of course trends following dominant trend should be favored as tend to give more profitable signs.

Another way to confirm a movement, is review smaller time frames before taking a trade on the time frame we set for trading: if the indicator has already changed color, and offered sings in smaller time frames, then our current signal should be consider stronger. The indicator is hardly useful to detect a trend change.

 

 

Best Time Frame : 15 or 30 min. Currency pairs: Majors: AUD/USD, NZD/USD, GBP/USD, EUR/USD, USD/CHF, EUR/JPY, GBP/JPY. INDEX: Dow, S&P500, DAX, FTSE100.

Best Trading Sessions : London and New York.

 

Conditions for buy :

• Price above blue Trend Magic Line,
• Trend Magic Line above blue BBand TOPTREND,
• ADX upward above 30 line,
• TTF buy,
• Ozymandias line deep sky blue,
• Bulls Eye bgreenbar,
• Joker Fx alert vertical line dodger blue,

 

Conditions for sell:

• Price below Trend Magic Line,
• Trend Magic Line below red BBand TOPTREND,
• ADX upward above 30 line,
• TTF sell,
• Ozymandias line red,
• Bulls Eye red bar,
• Joker Fx alert vertical line red.

 

Exit positions when Ozymandias line change color, profit target 15-22 pips or make profit at the pivot points level. Initial stop loss at the previous swing. You can apply this template at least 4 not correlated currency pairs.