Trend Striker Extreme

Trend Striker Extreme is a nice indicator that gives alert. Trend Striker Extreme is a straightforward trend-following indicator. This indicator displays vertical signal lines below the price and provides simple buy and sell signals. It is extremely simple to use. Trend Striker Extreme can be used to trade virtually any forex currency pair. Furthermore, this indicator works with all timeframe charts in the MT4 trading terminal.

What is the Trend Striker Extreme?

Trend Striker Extreme is a straightforward trend-following forex trading indicator that is ideal for inexperienced traders. It indicates the current trend status based on the last 48 candlesticks over the specified time period. On the top left of the chart, it also displays trend strength and spread information. Trading forex with the Trend Striker Extreme indicator is so simple that traders of any degree of experience may use it for real trading.

Setting up the Trend Striker Extreme
Setting up the Trend Striker Extreme

Trend Striker Strategy

Trend Striker employs a very basic technique to display market trend signs. It draws colored vertical lines to indicate market patterns. When the trend is bullish, the lines change blue, and when the trend is bearish, the lines turn red. When the indicator indicates a change in the market trend, you could look for a candlestick bar that fits the trend signal to confirm establishing a position. For trade exits, you can either wait for an opposite trend signal to your entrance or leave when your ideal risk-to-reward ratio is met.

Buy Signal

The following could be your checklist for a buy trade:

  • When the indicator plots blue vertical lines below the price bars.
  • When a bullish candle closes in line with the bullish trend signal.

Once these events occur:

  • You could open a buy position after you confirm your entry with bullish candlestick patterns.
  • You could set your stop loss just below the nearest swing low.
  • You could set your take profit at the nearest resistance zone, or you could exit trade when the indicator plots red vertical lines below the price bars.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Trend Striker Extreme Buy Setup
Trend Striker Extreme Buy Setup

Sell Signal

The following could be your checklist for a sell trade:

  • When the indicator plots red vertical lines below the price bars.
  • When a bearish candle closes in line with the bearish trend signal.

Once these events occur:

  • You could open a sell position after you confirm your entry with bearish candlestick patterns.
  • You could set your stop loss just above the nearest swing high.
  • You could set your take profit at the nearest support zone, or you could exit trade when the indicator plots blue vertical lines below the price bars.
  • For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Trend Striker Extreme Sell Setup
Trend Striker Extreme Sell Setup

Trend Striker Pros & Cons

Pros

  • The Trend Striker Extreme can be used to identify the strength of the prevailing trend.
  • The indicator may also predict possible trend reversals.

Cons

  • The Trend Striker Extreme may give conflicting signals sometimes with the aid of its vertical lines.
  • This indicator may not meet the trader’s expectations in a narrow-ranging market on smaller timeframes.

Conclusion

The Trend Striker Extreme may be worth adding to your trading arsenal but keep your expectations in check. It could be advantageous to traders who trade trending markets, but it does not guarantee profits. It, like any other technical analysis tool, is not capable of generating 100% correct indications. It can be used in conjunction with price action and other technical indicators.

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