Introduction to the Triple Threat Forex Trading Strategy
The name of the Triple Threat Forex Trading Strategy is a trend-following forex system based on just three Moving Averages. Each Moving Average is set to a different period and their crossover act for a trade signal. What’s more, they also assist in defining the dynamic stop level of the market trend.
The Triple Threat Forex Trading Strategy fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to trade with the Triple Threat Forex Trading Strategy?
The Triple Threat Forex Trading Strategy consists of three Moving Average Indicators and Fractals Indicator. Detailed description is the following:
- 15, 30 & 60 MAs: this forex system includes 3 Simple Moving Averages (SMA) of 15, 30, and 60 day periods. These MAs work together to provide signals in the form of crossover. For a bullish trend, 30 MA must be above 60 MA and 15 MA must be above 30 MA. For a bearish trend, 60 MA must be greater than 30 MA and 30 MA must be greater than 15 MA. The 60 MA level can also be used to define the trailing stop level of the current market trend.
- Fractals: they come in handy for defining the possible swing areas of the market. However, we need to stress that not all the fractal signals are correct and they appear frequently on the chart. This is why we recommend matching the fractal signals with the crossovers of the Moving Averages before you make a trade entry.
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 candlestick
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the 60 MA
- Take profit or exit trade whenever 15 MA moves below 30 MA or use your own 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 own preferred method of trade exit
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Triple Threat Forex Trading Strategy in MT4?
Download the Triple Threat Forex Trading Strategy.rar archive at the bottom of this post, unpack it, then copy and paste the indicators files of the Triple Threat Forex Trading Strategy into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Furthermore, to run the Triple Threat Forex Trading Strategy you need to copy the template file into the templates folder. To proceed, right-click on a chart, then Template > Open Templates, and then copy the Triple Threat Forex Trading Strategy.tpl file into that folder. Now select the file and click Open to load the system on your chart.
The Triple Threat Forex Trading Strategy is well worth adding to your trading collection. A good forex strategy will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex trading system provides false signals occasionally. Its performance will vary significantly depending on market conditions.
Download Free MT4 Triple Threat Forex Trading Strategy
To download the Triple Threat Forex Trading Strategy for Metatrader 4 (MT4) for free just click the button below: