Trading in line with the trend direction is a profitable strategy but entering the trade from a pullback position is even better. UniTrendNoise Balance helps you t identify such retracement levels respecting the current market trend and assists you in maximizing profits and minimizing risks. It is a simple dual-indicator strategy thus, suitable for the newbie trend-following forex traders.
UniTrendNoise Balance can be applied to trade all kinds of major forex currency pairs. Besides, as a scalping strategy, it works well when used to trade on shorter timeframes like M1, M5 & M15 charts within the forex MT4 trading platform.
UniTrendNoise Balance Overview
Download & install the strategy on your MT4 terminal. Once you’re done, your chart will appear like the following image:
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UniTrendNoise Balance Explanation
- MACD Noise Balance V1.1: It is a MACD-based momentum indicator and uses its own parameters for determining the possible direction of the market momentum. Its value below 40 means the momentum is weak, above 65 means the momentum is valid, and above 80 represents a strong momentum signal. First, you need to check the momentum direction and then check the strength of it using the indicator scale.
- Scaler Noise Balance V1.1: It is mostly known as a trend meter, used to measure the strength of the market trends. It doesn’t matter the market is in a bullish or bearish trend, it works in the same manner to identify the depth of the trend. If its value below 40 means the trend is neutral, above 65 means the trend is valid, and above 80 is considered as a strong trend signal.
UniTrendNoise: Buy Conditions
- Price starts to move upwards
- MACD Noise Balance V1.1 value rises above 65
- Scaler Noise Balance V1.1 bars turn green with values greater than 65
- A buy can be triggered if both conditions are met at the same time
- Set stop loss below the current low of the market
- Exit long/take profit whenever both of the indicator’s value drops below its 40 levels
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UniTrendNoise: Sell Conditions
- Price starts to move downwards
- MACD Noise Balance V1.1 value jumps over 65
- Scaler Noise Balance V1.1 bars turn red carrying values over 65
- A sell can be triggered if both conditions are met at the same time
- Set stop loss above the current high of the market
- Exit short/take profit whenever both of the indicator’s value drops below its 40 levels
