The Forex Buy/Sell Trigger Trader system is an unemotional, logical profitable trading system whose trading rules are designed to catch the market when a great buy/sell trade opportunity arises.
The rules are meant to allow traders identify signals more efficiently.
A buy/sell signals comes into play when the system identifies a currency pair that satisfies the predetermined parameters for profitability.
There are occasions in the market where beginners and even pro traders sometimes make trading decisions based on psychological trigger that disregards the logic of market condition.
With the Forex Buy/Sell Trigger Trader system, such human errors of judgment are eliminated.
Chart Setup
MetaTrader4 Indicators: bttrendtrigger-indicator.ex4 (Inputs Variable Modified; barBegin=10000), pz-lopeztrend-indicator.ex4 (Inputs Variable Modified; Amplitude=4)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the lines (red & gold) of the bttrendtrigger-indicator stay above the 0.00 signal level as depicted on Fig. 1.0, price is said to be driven to the upside i.e. a trigger to go long on the designated forex pair.
- If the middle line of the pz-lopeztrend-indicator turns deep sky blue as illustrated on Fig. 1.0, the overall market sentiment is said to be bullish, therefore a buy order is said to be appropriate.
Stop Loss for Buy Entry: Place stop loss 3 pips below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If while a bullish trend is continuing, the red line of the bttrendtrigger-indicator dips below the 0.00 reference level (see Fig. 1.0), it is signaling a likely end to the bullish trend, as such an exit or take profit will suffice.
- If the middle line of the pz-lopeztrend-indicator turns tomato during a bullish trend, it is pointing to more bulls leaving the market, hence an exit or take profit is recommended.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the lines (red & gold) of the bttrendtrigger-indicator dips below the 0.00 signal level as seen on Fig. 1.1, price is said to be pushed to the downside i.e. a signal to sell the selected currency pair.
- If the middle line of the pz-lopeztrend-indicator turns tomato as shown on Fig. 1.1, the general market sentiment is said to be bearish, therefore a sell order is said to be apt.
Stop Loss for Sell Entry: Place stop loss 3 pips above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If the red line of the bttrendtrigger-indicator is seen to surge above the 0.00 horizontal level as exemplified on Fig. 1.1 during a bearish signal, it is a trigger to exit or take profit straightaway.
- If while a bearish trend is ongoing, the middle line of the pz-lopeztrend-indicator reverts to deep sky blue, traders are expected to exit or take profit on their sell positions as a result of weaning bears power.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The BTtrend Trigger custom indicator just as its name suggests is a trend finder that signals changes in trend when its lines breaks above/below the 0.00 level.
The pz-lopeztrend-indicator is deployed to track market trends by means of a dual colored line enclosed by a dotted price line bands that sits above and below the dual colored line.
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