The name of Triple Threat Forex Trading Strategy is a forex trend-following forex indicator system based on just three Moving Averages(MA). Each Moving Average(MA) is set to a different period, and their crossover acts for a trade signal. What’s more, they also help in defining the dynamic stop level of the forex market trend.
The Forex Triple Threat Trading Strategy fits all mt4 timeframes and currency pairs. It is shown directly on the main trading chart. The settings can be modified directly from the input tab. Feel free to test out the settings and parameters to fit your preferences.
How to trade with the Forex Triple Threat Trading Strategy?
The Forex Triple Threat Trading Strategy consists of three Moving Average Indicators and Fractals Indicators. A detailed description is the following:
- 15, 30 & 60 MAs: this forex indicator system includes 3 Simple Moving Averages of 15, 30, and 60-day periods. These MAs work together to provide entry signals in the form of crossover. For a bullish market trend, 30 MA must be above the 60 moving average, and 15 MA must be above 30 MA. For a bearish market trend, 60 MA must be greater than 30 MA, and 30 moving averages must be greater than 15 MA. The 60 MA level can also define the trailing stop level of the current forex market trend.
- Fractals are suitable for defining the possible swing areas of the forex market. However, we need to stress that only some of the fractal signals are correct, and they frequently appear on the chart. This is why we suggest matching the fractal entry signals with the crossovers of the Moving Averages(MA) before you make a trade entry.
Buy Entry Signal
Follow these steps for a long trade:
- 15 MA moves above 30 MA
- 30 MA moves above 60 MA
- A fractal appears below the current chart candlestick.
- Buy-entry trade is triggered after the above conditions are met.
- Set stop loss(SL) a few pips below the 60 MA.
- Take profit(TP) or exit trade whenever 15 MA moves below 30 MA, or use your preferred method of trade exit.
Follow these steps for a short trade:
- 15 MA moves below 30 MA
- 30 MA moves below 60 MA
- A fractal appears above the current candlestick.
- Sell trade is triggered after the above conditions are met.
- Set stop loss a few pips above the 60 MA.
- Take profit or exit trade whenever 15 MA moves above 30 MA, or use your preferred method of trade exit.
As always, to achieve good results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility, beyond major sessions, exotic mt4 currency pairs, wider spread, etc.
Set up the Triple Threat Forex Strategy in MT4.
Download the Triple Threat Forex Trading Strategy.zip archive at the bottom of this post, unzip it, then copy and paste the given indicators files of the simple Triple Threat Forex Trading Strategy into the MQL folder of the MetaTrader 4 platform.
You can open this data folder by clicking the menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators.
Furthermore, to run the Triple Threat Forex Trading Strategy, you must copy the given template file into the templates folder. To proceed, right-click on an mt4 chart, then Template > Open Templates, and then copy the simple Triple Threat Forex Trading Strategy. tpl file into that folder. Select the file and click Open to load the system on your chart.
The Simple Triple Threat Forex Trading Strategy is worth adding to your trading collection. A good forex strategy will enhance your chance of success. Nonetheless, remember to have realistic expectations. Like any other forex technical analysis tool, it cannot provide accurate entry signals 100% of the time. Thus, this forex trading indicator system provides false signals occasionally. Moreover, its performance will change depending on forex market conditions.
Download Free MT4 Triple Threat Forex Trading Strategy
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