Trend Slope Forex Trading Strategy defines the market momentum as correctly as possible and filters its own trading signals for enhancing the accuracy of your trading performance. It uses a trend slope along with TrendLR in order to double-check the status of the market trend. Besides, it uses a very simple technique to demonstrate the trading signals so that even newbie traders get benefited from it.
Trend Slope Forex Trading Strategy is applicable to trade all kinds of forex currency pairs available in the online market. Moreover, it can be used for both scaling and day trading purposes since it suits all sorts of timeframe charts within the MT4 trading platform.
Trend Slope Forex Trading Strategy Overview
Download the trend strategy and install it at your MT4 terminal. Once completed, your chart will appear like the image below:
Trend Slope Forex Trading Strategy Explanation
- Slope Direction Line: It is applied in the same manner as Moving Averages. Price closes above its levels and the indicator turns itself into blue color means the trend is bullish. For the bearish trend, the price must be closed below the indicator level by turning the slope into a red color. This direction-line can also be used to determine the trailing stops of your market entries.
- TrendLR: This is a momentum filter, used to crosscheck the trade signals generated by the Slope Direction Line. TrendLR value turns positive means the confirmation of the bullish trend and a negative value represents the validity of the bearish trend of the market.
Trend Slope: Buy Conditions
- Slope Direction Line turns blue with price closing above its level
- TrendLR value turns positive
- A buy can be triggered when the above conditions are met
- Set stop loss below the current level of the trend indicator slope
- Exit long/take profit whenever the Slope Direction Line turns into red color
Also Read: Exness Broker Review
Trend Slope: Sell Conditions
- Slope Direction Line turns red with price closing below its level
- TrendLR value turns negative
- A sell can be triggered when the above conditions are met
- Set stop loss above the current level of the trend indicator slope
- Exit short/take profit whenever the Slope Direction Line turns into blue color