Trend Candlesticks is a trend-based Forex technical indicator. It has been designed aiming to detect the potential swinging points of the market trends. Besides its simplicity of use and easy chart demonstration, it also carries a well-proven backtest result with a higher percentage of winning rations.
Trend Candlesticks has been specially designed for intraday trading and scaling purposes. Thus, you’ll be able to trade any chart between M5 to H1 timeframes. But you’ll be able to trade any Forex currency pairs you want using this amazing trendy tool at your MT4 trading terminal.
Trend Candlesticks Overview:
After you finish installing Trend Candlesticks at your Forex MT4 terminal, your trading chart will appear like the following image:
Trend Candlesticks plots the signals with the same manner as Heiken Ashi. There is no MA slope, no signal arrows–it just changes the color of the price bars to signal the possible change of a trend direction along with the market entry points. It turns blue/pink to signal the short entries following the bearish trend and also turns yellow/green to confirm the bullish trend with a long entry at the market. Trend Candlesticks has a good reputation to win the double compared to the loss budget behind each trade. So whenever you trade using this handy Forex tool, your usual target will be to win 1:2 risk to reward ratio.
Trend Candlesticks: Buy Parameters
- Trend Candlesticks turns yellow/green
- Price bar closes as a bullish bar at the bottom of the chart
- Initiate buy entry when the high of the bullish bar is broken
- Set stop loss below the signaling bar’s low
- Exit long/take profit once your trade hits the 1:2 risk to reward ratio
Read about: The Best Forex Strategy Ever
Trend Candlesticks: Sell Parameters
- Trend Candlesticks turns blue/pink
- Price bar closes as a bearish bar at the top of the chart
- Initiate sell entry when the low of the bearish bar is broken
- Set stop loss above the signaling bar’s high
- Exit short/take profit once your trade hits the 1:2 risk to reward ratio
