Trading strategy for MetaTrader 4, based on the SFT Trend Tape indicator
Multicurrency strategy - suitable for any currency pairs, as well as for trading metals, options and cryptocurrency (Bitcoin, Litecoin, Ethereum, etc.)
Trading can be conducted on any timeframe.
Depending on your preferences, you can use both scalping and intraday, as well as medium-term and long-term.
The basis for opening deals is the trend indicator SFT Trend Tape .
It determines the possible direction of the inputs.
The SFT Fractal Support and Resistance indicator is used to accurately determine inputs.
Now we consider in detail the options for opening positions.
And at the end of the article you can download a ready-made template with all the settings, as well as links to the indicators themselves with a description and a detailed video overview of their capabilities.
Installation and Setup
Learn more about how to choose, install, test for free, as well as buy indicators, see YouTube on video tutorials.
The settings described in this manual are indicated for the EURUSD currency pair.
Other tools may require additional adjustment of the indicator parameters.
Experimenting a little, you can choose the settings for any trading tool.
Signal Filtering with SFT Trend Tape
Settings SFT Trend Tape indicator :
- Trend Tape Period = 7
- Trend Tape Smoothing = false
Trading Rules
Coloring the SFT Trend Tape indicator in a specific color allows you to open trades that match the color:
- When the indicator is painted in red, only a Sell or Put position (for options) is considered for opening.
- When the indicator is dyed blue, only Buy or Call positions (for options) are considered for opening.
- When dyeing the indicator yellow, you should refrain from opening any positions.
The direction of opened trades should correspond to the trend direction on a higher timeframe and the current indicator color on it should be the same color.
If you trade on M1 or M5, then you should focus on M30 and H1.
When trading on M15, M30 and H1, we focus on H4, D1 and W1, respectively.
Exit from the transaction is carried out on orders placed SL and TP.
SL should be set for the nearest extremum, and TP should be equal from 1 to 2 SL sizes.
SFT Trend Tape + Trading Strategy SFT Fractal Support and Resistance
To accurately determine the inputs, it is recommended to use an additional indicator.
The SFT Fractal Support and Resistance indicator is a great addition.
Their teamwork significantly increases the reliability and accuracy of inputs.
Settings SFT Trend Tape indicator :
- Trend Tape Period = 7
- Trend Tape Smoothing = false
Settings indicator SFT Fractal Support and Resistance :
- BarCount = 1000
- UseAlerts = false
- SoundAlerts = false
- EmailAlert = false
- SendPushAlert = false
- SoundResistance = false
- SoundSupport = false
Trading Rules
The color of the SFT Trend Tape indicator allows you to open only trades that match this color (see above)
Breaking the price levels of the indicator SFT Fractal Support and Resistance is a signal to open trades
- after breaking through the red level, open Sell or Put (for options)
- when the blue level is broken open Buy or Call (for options)
The direction of opened trades should correspond to the trend direction on a higher timeframe and the current indicator color on it should be the same color.
If you trade on M1 or M5, then you should focus on M30 and H1.
When trading on M15, M30 and H1, we focus on H4, D1 and W1, respectively.
Exit from the transaction is carried out on orders placed SL and TP.
SL should be set for the nearest extremum, and TP should be equal from 1 to 2 SL sizes.
You can enter both on the market and pending orders.
For more information on how to work with pending orders on the SFT Fractal Support and Resistance indicator, please click here: Trading strategies with an indicator SFT Fractal Support and Resistance
It is recommended to work with this strategy only with reliable and proven brokers. Who have no problems with the withdrawal of funds.
It is also desirable that ECN has accounts with a low spread and a low commission per transaction.
Before you decide to open a trading account, be sure to read online reviews about your broker.
Well, if you have difficulties with choosing a company, then in my blog you can find brokers with whom I personally work .
These companies can be trusted.
For more than seven years of experience working with them, no problems have arisen.
Always adequate trading conditions, quality support and quick withdrawal.
Choose any of them: LIST HERE
Indicators and template with settings
- SFT Trend Tape indicator with description and video review
- SFT Fractal Support and Resistance indicator with description and video overview
- Template with settings TS SFT Trend Tape + SFT Fractal Support and Resistance.tpl
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