Forex Paint Bar Strategy MT4 is one of the finest trends following scalping system around the market. It uses multiple sets of moving averages to identify the trend and the dynamic support/resistance levels. This strategy has been combined with some strong trend based oscillators to filter the trend and trade signals as well.
Forex Paint Bar Strategy states the market condition with a very clear approach. That is why newbie trend followers may find this system more comfortable to cope up with. This strategy is suitable to scalpers and day traders only and can be applied on any currency pair charts around the market.
Forex Paint Bar Strategy Overview
Once you finish its installation and apply it to your mt4 terminal, you’ll find your chart as the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
|M5 to H1||Any||6||9.6/10|
Forex Paint Bar Strategy Anatomy
- PBF Scalper: It is plotted above or below the price bars as trade signals. It appears above the bar is interpreted as sell signals and below the bar is considered as buy signal.
- PBF Fast 3MAs: It appears at the main chart window as the thinnest pair of moving average lines. Price above its level indicates the bullish trend and below the level signals the bearish trend.
- PBF iTunnels: It is plotted as blue colored pair of dynamic channels. In case of bullish trend it should be below PBF Fast3MAs and above in case of bearish trend respectively.
- PBF 2EMAs: This pair of dotted lines works as exponential moving averages. Price often uses this level as dynamic support and resistance levels.
- PBF Trend Bars: This tool works as trend meter. Its value above zero level indicates bullish strength and below the zero level signals bearish thrust.
- PBF Squeeze: It confirms the validity of current trend of the market. It confirms the bullish trend when its value is positive and a negative value is interpreted as the validity of bearish trend respectively.
A Brilliant Forex Trading Strategy: Forex Profit Heaper
Forex Paint Bar Strategy: Buy Parameters
- PBF Scalper is plotted below the price bar
- The signaling price bar closes above the PBF Fast3MAs
- PBF Fast3MAs stay above PBFiTunnels
- PBF iTunnels maintain their positions above the PBF 2EMAs
- PBF Trend Bars reaches above zero level
- PBF Squeeze’s value is positive
- Stop loss below the moving average levels
- Exit long whenever price closes below the PBF Fas3MAs and PBF Scalper appears above the price bar
Forex Paint Bar Strategy: Sell Parameters
- PBF Scalper is plotted above the price bar
- The signaling price bar closes below the PBF Fast3MAs
- PBF Fast3MAs stay below PBFiTunnels
- PBF iTunnels maintain their positions below the PBF 2EMAs
- PBF Trend Bars reaches below zero level
- PBF Squeeze’s value is negative
- Stop loss above the moving average levels
- Exit short whenever price closes above the PBF Fas3MAs and PBF Scalper appears below the price bar