SuperTrend filtered by SSL fast sbar alert Strategy For MT4
Table Of Contents:
- SuperTrend filtered by SSL fast sbar alert Strategy For MT4
- Supertrend with ssl fastbar forex trading system – Long positions
- Supertrend with ssl fastbar forex trading system – Short positions
- Is the SuperTrend filtered by SSL fast sbar alert Strategy For MT4 good for trading?
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 SuperTrend filtered by SSL fast sbar alert Strategy For MT4 is a forex trading strategy that is very simple to use. There is just one main trading indicator that is at play here. This is the supertrendprofit indicator which comes with some parameters already defaulted.
If you like price action and prefer clean charts, then the supertrend with SSL fast bar is a trading system that you will like. You can use the supertrend with ssl fast bar on any timeframe of your choice. This trading system can also be applied to any currency pair or commodity as well.
Because the trend is the main part of this trading strategy, it is ideal that the instrument you are trading, exhibits characteristics of strong trends. Therefore, trading only strongly trending markets makes this more beneficial. The drawback is of course when markets are trading flat. The ranging markets don’t particularly give you much opportunities for trading with the supertrend with ssl fast bar trading system.
And due to the fact that one cannot forecast ranging markets in real time, you need to be alert to this trap. Once market starts moving sideways, it can begin to generate false signals. Therefore, traders should also apply this concept when trading. If you are comfortable with price action, then you might want to apply those concepts when using the supertrend with ssl fast bar trading system.
Supertrend with ssl fastbar forex trading system – Long positions
In order to take long positions, the first thing you need is that the market should be trending higher. This can be seen from the higher lows that the market will form. Unfortunately, there is no indicator that will alert you to this. Therefore, apply discretion before you can even think of initiating a position.
After your analysis shows that the market is in an uptrend, the next step is to take a long position on a retracement. As you can see from the above chart set up, there are both buy and sell signals. However, the supertrend indicator also tells you what the trend is.
There are multiple buy signals that are formed in the lifetime of an uptrend. So, you need to pick one of these turning points in prices. As soon as you see the buy signals, it is time to go long. Set your long position one candlestick after the signal is generated.
Set your stop loss at the low of the signal bar. For take profit, it is better to start with a fixed risk to reward ratio. Alternately, you can also trail your stop loss until you get stopped. The risk with this method of taking profit is that it can prematurely stop you out especially when price starts to spike around.
Supertrend with ssl fastbar forex trading system – Short positions
In order to take short positions in the market using the supertrend with ssl fastbar forex trading strategy is to look for short positions. You can take the assistance of the supertrend indicator which tells you what the trend is.
However, we recommend that you apply your own analysis to ascertain that the trend is indeed down. Once you are confident about the trend, then, the next step is to look for the sell signals. Note that you will see multiple sell signals here.
Therefore, you need to pick this sell signal early on. Set your enter at the open of the next candlestick session while setting your stop loss at the signal bar. Your stop los should be set up a few pips above the highs of the signal bar.
You can begin with a fixed risk to reward ratio or alternately, you can make use of the trend itself and ride it out. The risk is of course being stopped out due to choppy price action. Unless the trends are strong, this second method might not work. So, we recommend that traders should test out these two approaches and choose one which suites you best.
An important thing to note is that the supertrend indicator might continue to show that the trend is down even when the trend is changing. Therefore, try your best to avoid late entries into the trend. This could potentially stop out your position if you enter too late into the trend and can lead to repeated losses.
Thus, the trick lies in the fact that you need to catch the trend quite early on and then enter during one of the initial signals.
Is the SuperTrend filtered by SSL fast sbar alert Strategy For MT4 good for trading?
Overall, we find that this trading system could be better. For one, there is just one indicator that is in play. The main deciding factor is the trends in the market. Therefore, as one knows, the trends might change quickly and the markets tend to trade in a range most of the times.
Traders could however use this trading system and add some additional filters. One such filter is using an oscillator such as the stochastics. You could make use of the divergence and the signals that come off the supertrend indicator. And of course you can experiment further with the supertrend forex trading system.
The template is very light weight considering the fact that there is just one indicator in use. So you can apply this to multiple charts and it will not affect the performance of your metatrader system. When it comes to the ease and use of the supertrend with ssl fastbar trading system, beginners might find this a bit challenging as one needs to be certain of the trends.
Therefore, we recommend that you use the supertrend with ssl fastbar on a demo account, until you get comfortable trading this on the real markets. Another factor to bear in mind is that the instruments that you choose for this trading system need to historically have strong trends in the market. This will enable you to make good profits on the markets. And as mentioned multiple time, beware of ranging markets.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
