MMR Strategy is a forex trading indicator build for the metatrader4 platform. The MMR Strategy is a very simple forex trading indicator. The indicator consists of nothing more than histograms that fluctuate in positive and negative territory. The MMR Strategy can be used to trade in lower time frames like 5 minute, 15 minute, and 30 minute while it can also be used to trade in higher time frames like hourly, four hour, and daily time frames. However, you should not trade being fully dependent upon this indicator alone. You should look the trend of the market. If the overall trend of the market is up, then only you should take the buy signals generated by the MMR Strategy. You should not be trading against the trend.
When the MMR Strategy is correctly installed in your trading platform, your chart should look like this:
- MMR Strategy
When the MMR indicator is in positive territory or when the histogram is green, you should be buying. Similarly, when the MMR indicator is in negative territory or when the histogram is red, you should be selling. Remember to follow the overall direction of the market before pulling the trigger. You should never buy in a falling market even if the indicator gives you a buy signal. Similarly, you should never open a short position in a rising market. Trend is your friend, so listen what it says.
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Buying Conditions Using MMR Strategy.
- Market should be up trending.
- The MMR indicator should form green histogram.
- Place your long position when the above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the green histogram disappears.
Selling Conditions Using MMR Strategy.
- Market should be down trending.
- The MMR indicator should form red histogram.
- Place your short position when the above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the red histogram disappears.
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