Silver Trend with Brian Trend Trading System For MT4
Table Of Contents:
- Silver Trend with Brian Trend Trading System For MT4
- The Silver trend with Brian trend trading system – Long positions
- The Silver trend with Brian trend trading system – Short positions
- Is the Silver trend with Brian trend trading system good for you?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Silver Trend with Brian Trend Trading System For MT4 , as the name suggests is a trend following system that makes use of two different methods of trading. Here, we use the silver trend method and the brain trend method in this trading strategy.
Despite the use of two different methods, do not fall into the illusion that the trading signals from the Silver trend with Brian trend trading system is accurate. On the contrary, you will see losing trades as well in this method. The Silver trend with Brian trend trading system is a short term day trading strategy that is suitable for trading on the 5 minute or the 15 minute chart time frames.
The basic principle behind the trades in the Silver trend with Brian trend trading system is the use of the short term support and resistance levels that form on price. When one of these levels is breached, a long or a short position is taken. Of course, this is confirmed by looking at the other indicators that are used in the Silver trend with Brian trend trading system. Thus, traders are able to scalp the short term movements in the markets.
The Silver trend with Brian trend trading system makes use of the brain trend indicator. This indicator is responsible for plotting the support and resistance levels that you see. These levels are plotted using the red dots indicating that it is resistance and the blue dots, indicating that it is support. Following this, we also have the daily pivot level indicator. The pivot levels are used for booking profits on the price chart.
However, as you will see in the trading rules outlined in this article, you don't quite need the help of the pivot levels as we will only focus on the support and resistance levels based off the brain trend indicator. In the first sub window of the Silver trend with Brian trend trading system, we have the 100 pips trend indicator. This is a trend indicator that signals the short term movements in the market. It changes color and also plots arrows signaling that the trend is changed.
In the second sub window of the Silver trend with Brian trend trading system, we have the silver trend indicator. This indicator also works similar to the 100 pips indicator. The only difference is that there are no arrows. This indicator only plots vertical bars and these change color as and when the trend shifts.
It is important to note that when we are trading, we need to look into the trend changes for both the indicators in the sub windows. Let's now take a look at how you can trade long and short positions using the Silver trend with Brian trend trading system.
The Silver trend with Brian trend trading system – Long positions
For long positions using the Silver trend with Brian trend trading system, we start by looking at price action making a support and resistance on the price chart. As you can see in the above chart, we have a short term resistance level as well as a support level that is plotted.
Following this pattern, you should now wait for price to break the resistance level. When this happens, the resistance level is breached and you will see price rising higher. At the same time, look to the indicators in the sub window.
Here, we want to see both the indicators turning blue. This suggests that price is moving higher and that the momentum is strong. Now take a long position at market and set your stop loss to the recent swing low point that has formed.
Using one of the older resistance levels that you see by looking at the left side of the chart, you can use this price level as the take profit level for your long position.
The Silver trend with Brian trend trading system – Short positions
For short positions using the Silver trend with Brian trend trading system, we start by looking at price action making a support and resistance on the price chart. As you can see in the above chart, we have a short term resistance level as well as a support level that is plotted.
Following this pattern, you should now wait for price to break the support level. When this happens, the support level is breached and you will see price falling lower. At the same time, look to the indicators in the sub window.
Here, we want to see both the indicators turning red. This suggests that price is in a downtrend and that the momentum is strong. Now take a short position at market and set your stop loss to the recent swing high point that has formed.
Using one of the older support levels that you see by looking at the left side of the chart, you can use this price level as the take profit level for your short position.
Is the Silver trend with Brian trend trading system good for you?
In conclusion, the Silver trend with Brian trend trading system is a simple short term scalping system. The trading holding period is intraday and you can get multiple signals depending on the instrument that you are monitoring. In the Silver trend with Brian trend trading system, you do not focus on the trend but simple the short term price corrections.
This is a good way to capture the small movements in the markets. With good risk management you are able to get a few good trades out of this trading system. The Silver trend with Brian trend trading system can be used by beginners to forex trading. It is relatively easy and the trading system gives you good practice on understanding how to trade based off the support and resistance levels.
The trading template that comes with the Silver trend with Brian trend trading system is light weight. So you can use this method to monitor multiple charts at the same time. There is also a pop up indicator that alerts you to potential shifts in the direction of the markets. However, we do not recommend that you use this on too many instruments as it can be a bit distracting.
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Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
