Forex Trend Tracker Strategy MT4 is yet another trend following trading strategy which has been admired by a lot of trend loving traders around the global financial market. This strategy is completely moving average based. It uses a numerous number of exponential moving averages to track the trend and spot the market entry areas.
Forex Trend Tracker Strategy can be mastered by any level of traders who have a basic understanding on how the moving averages work. Newbie trend following traders are especially encouraged to apply this strategy for trading purposes. You’ll be able to use it for any currency pair and can match it with any time frame chart available in your mt4 terminal.
Forex Trend Tracker Strategy Overview
Once you are done with its installation at your mt4 trading software, when you load this system, your chart should be appeared as the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
Forex Trend Tracker Strategy Anatomy
- Fast EMA Set: It is a set of shorter day period of Exponential Moving Averages. These EMAs reacts very fast with the price actions and generates more trading signals than Slow EMAs.
- Slow EMA Set: This is a set of longer period EMAs which reacts slower than Fast EMAs and produces lesser trade signals.
- 3 EMA: It reads last 3 day period data to plot the moving averages. It produces EMA crossover signals with the collaboration of other EMAs at the chart.
- 21 EMA: This one is a very effective EMA level. A 21 day period Exponential Moving Average is very much admired by professional day traders. Like 3 EMA it also produces crossover trend signals.
- 55 EMA: It is the largest period EMA at this strategy. It is a very reliable trend signaling instrument for intraday and weekly traders.
Recommended Similar Strategy: Cornflower Trading Strategy
Forex Trend Tracker Strategy: Buy Parameters
- 3 EMA crosses above the 21 and 55 EMA
- Fast EMA Set crosses above the Slow EMA Set
- The signaling bar must be closed above all EMAs
- Stop loss below the respective signaling bar
- Exit long whenever EMAs make opposite crossovers
Forex Trend Tracker Strategy: Sell Parameters
- 55 EMA crosses above the 3 and 21 EMA
- Fast EMA Set crosses below the Slow EMA Set
- The signaling bar must be closed below all EMAs
- Stop loss above the respective signaling bar
- Exit short whenever EMAs make bullish crossovers