Forex System Halftrend No Repaint
Halftrend is a no repaint forex trading system that consists of two simple trend following indicators. The system generates signals in the direction of the overall trend and can’t be used to trade against the trend. The Halftrend indicator is the main signal generator of this forex trading system. It is suitable for scalping, day trading and swing trading.
Used indicators: HalfTrend-1.02.ex4, Fratelli_MACD.ex4
Preferred time frame(s): any.
Trading sessions: London and US for M1, M5 and M15 charts. All sessions for M30 and higher charts.
Currency pairs: any
Example: GBP/USD M5 Chart
The figure above is an example of the Halftrend system in action on the 5 minute British Pound/US Dollar chart. It shows our proposed entry points. You can see 3 valid sell trades – all 3 ended up with a profit (risk to reward ratio:1). Also take a look at how it filters out the bad trades against the overall trend. Let’s take a look below how to use the system properly.
- Fratelli_MACD indicator paints a green dot(s) below the main trading window (up trending market)
- HalfTrend shows a blue arrow to buy the pair
==> Open buy trade. The stop is placed slightly below the nearest support level.
Take profits: Exit the buy trade for a profit at risk to reward ratio 1 or better. Alternatively, use your own take profit method.
- Fratelli_MACD indicator paints a pink dot(s) below the main trading window (down trending market)
- HalfTrend shows a red arrow to sell the pair
==> Open sell trade. The stop-loss is placed slightly above the nearest resistance level.
Take profits: Exit the sell trade for a profit at risk to reward ratio 1 or better. Alternatively, use your own take profit method.