Andrew Forex Trading System

Trading systems help traders assess market trends and potential trading opportunities. Each system has a unique strategy comprising multiple indicators to generate useful market insights. This guide introduces you to the Andrew Forex Trading System, a free source MT4 system that can assist you in determining precise trend-following trade signals.

What is the Andrew Forex Trading System?

The Andrew Forex Trading System reflects a trend-based trading strategy specially developed for MetaTrader 4 users. It uses Non-Lag Dots and SuperTrend indicators for identifying price trends and solid trade signals.

You can use this system to explore both day and intraday trading options. The Non-Lad Dot identifies short-term market trends. On the other hand, the SuperTrend points to long-term trend conditions.

Andrew Forex Trading System Chart Example
Andrew Forex Trading System Chart Example

Both these indicators change colors helping you distinguish bullish and bearish trend signals. The Non-Lag Dots are blue when the trend is bullish and becomes red during bearish trends. The SuperTrend level turns yellow in uptrend markets and switches to red to signal a downtrend.

SuperTrend and Non-Lag Dot also plot crossover trend signals. For example, the Non-Lag Dots appearing above the SuperTrend level signals a bullish crossover.

Furthermore, you can use the indicator levels to outline dynamic support/resistance levels. You can follow the Non-Lag Dots to update your trailing stops during scalping or day trading. The SuperTrend levels are ideal as stop-loss levels for intraday entries.

How to trade Andrew Forex Trading System?

Consider the buy-sell options based on the price position compared to the Non-Lag Dot and SuperTrend line. For example, if you want to activate a buy order, wait until the price closes above both indicator levels.

After confirming the trend direction, you can enter trades following price breakouts at the SuperTrend levels. Alternatively, you can wait for the price to pull back near the dynamic support/resistance zones and look for relevant candlestick patterns to confirm an entry.

Buy Signal

Here is the list of buy conditions of the system:

  • The price moves above both Non-Lag Dots and SuperTrend levels.
  • The superTrend level turns yellow.
  • Non-Lag Dots are blue and appear above the SuperTrend level.
  • Stop loss below the current SuperTrend level.
  • Take profit when both indicator levels turn red.
Andrew Forex Trading System Buy Signal
Andrew Forex Trading System Buy Signal

Sell Signal

Here is the list of sell conditions of the system:

  • The price moves below both Non-Lag Dots and SuperTrend levels.
  • The superTrend level turns red.
  • Non-Lag Dots are red and appear below the SuperTrend level.
  • Stop loss above the current SuperTrend level.
  • Take profit when the indicator levels turn yellow and blue.
Andrew Forex Trading System Sell Signal
Andrew Forex Trading System Sell Signal

Andrew Forex Trading System Pros & Cons

Pros

  • It comprises only two indicators, keeping the system simple.
  • Generates real-time trend signals.
  • Shows dynamic support/resistance zones.
  • Determines trade entry and exit levels.
  • Easy trading rules.

Cons

  • Doesn’t generate trend and trade alerts.

Conclusion

The Andrew Forex Trading System is one of the simplest trend trading strategies ever developed for MT4 platforms. It aids beginners in identifying correct price trends in critical market conditions. This system can alone guide you through potential trade entry and exit levels. However, you can still improve its signal accuracy by adding horizontal support-resistance levels or automatic pivot points indicator.