Envelopes Trend EA

and his ability to own a trading strategy that almost guarantees success is every trader’s delight and the Envelopes forex trading strategy is designed to deliver just that.

The Envelopes forex trading strategy uses the envelopes indicator to define the bull or bear trend in any currency pair.

The custom Hotpips indicator delivers accurate signals in the direction of the envelopes bull or bear forex trend.

1. If while a buy order is ongoing, price closes below the red line of the Envelopes Metatrader indicator, an exit or take profit is duly recommended.
2. If the aqua downward pointing arrow of the HotPips custom indicator gets aligned within the indicator window as depicted on Fig. 1.0, bull’s power is said to be weaning i.e. a trigger to exit or take profit at once.

Sell Entry Rules

Enter a sell order if the following holds true:

1. If price open and closes below the blue line of the Envelopes MT4 indicator as illustrated on Fig. 1.1, price is said to be taken lower i.e. a trigger to sell the selected forex pair.
2. If the aqua downward pointing arrow of the HotPips custom indicator gets on display within its window as depicted on Fig. 1.1, the general sentiment in the market is said to be bearish, hence a sell signal is imminent.

Stop Loss for Sell Entry: Place stop loss above falling blue line.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes center stage:

1. If while a sell order is running, price closes above the blue line of the Envelopes MT4 indicator, an exit or take profit is duly advised.
2. If the yellow upward pointing arrow of the HotPips custom indicator gets spotted within the indicator window as shown on Fig. 1.1, bears power is said to be halting i.e. a trigger to exit or take profit without delay.
3. Best Pairs are those with low spread on 30M or 1H chart.