The Atrafisher Trading System For MT4 is based on a set of custom indicators to follow the market trend from a suitable position. Like other trend trading systems, this method follows the market direction with multiple confirmations from various indicators.
After following the whole section, you will be able to take trades using this strategy in both bullish and bearish market conditions.
The Atrafisher Trading System For MT4
In forex trading, it is imperative to follow a strategy that provides highly accurate trades, and this trading strategy focuses on multiple conditions in every trade to ensure accuracy.
Let’s get introduced to the elements of this strategy:
- ATRA Fisher
- MA RSI- value 5
- ATRA News
- MMR
The ATRA Fisher combines multiple tools that include QuadReg (500) and support- resistance lines with a ray.
The QuadReg is a parallel dynamic line that works as a support and resistance level. This indication has upper, lower, and middle lines, and when the price moves to the upper line, it may face the resistance and come back lower. On the other hand, when the price moves to the lower line, it may face support and move up.
Moreover, the price may move further high or low, if it breaks through the upper or lower band, but we will focus on reversal, in this strategy.
Moreover, we will define the most recent price action with the MA RSI indicator. The price is above the MA RSI means buyers’ domination in the price and the price is below the MA RSI indicator means sellers’ domination in the price.
Moreover, we will see the upcoming economic releases and events from the ATRA News indicator and the additional market sentiment from the MMR Indicator.
Bullish Atrafisher Trading System
The bullish trading strategy is profitable when the major market participants are taking the price up. However, it is often difficult to predict the price as the forex market is unpredictable. Therefore, in this bullish strategy, we will anticipate the price based on some trading conditions. When all conditions appear in the price, we will open the trade with an appropriate lot size.
This strategy’s best benefit is that it applies to any currency pairs while the best output comes from the 1-hour timeframe.
Bullish Conditions
- First, we have to move one timeframe higher (H4 timeframes) to see what traders are doing. If the price is moving up from a support level, we will move to other conditions. Moreover, you can see the market sentiment from Signal 22 that shows the overall market sentiment based on SAR, WPR, and MA.
- After confirming the market sentiment, we should find the price between the middle and lower band of QuadReg.
- Later on, the price should move up, rejecting bears from the support line.
- Lastly, the MMR is bullish and shows with a green histogram above the zero lines.
Entry
Before taking the buy trade, a rejection from the support line is very important. The rejection might be the bullish pin bar or two bars. After that, open the trade on the next candle close above the MA RSI with an appropriate lot size.
Stop Loss
The last hope of buyers is at the lower Band of QuadReg. Therefore, the conservative approach is to set the stop loss below the Lower QuadReg, and the aggressive approach is to set the stop loss below the entry candle.
While setting the Stop Loss, make sure to set it 10-20 pips below the exact level to avoid unexpected touch and reverse.
Take Profit
The ultimate target of the buy trade is the upper bands of the Quad Reg. Therefore, the final take profit would be 10 pips below the QuadReg Upper bands.
However, you should make some partial close after reaching 1:1 R: R and move the stop loss at breakeven to make the trade risk free.
Bearish Atrafisher Trading System
Like the bullish trading strategy, we aim to find the price where most major participants are taking the price down. Therefore, we will anticipate the price based on some trading conditions. When all conditions appear in the price, we will open the trade with an appropriate lot size.
The bearish method is tradable in any currency pairs, but the best output comes from the 1-hour timeframe.
Bearish Conditions
- At first, move one timeframe higher (H4 timeframes) to see what traders are doing. If the price is moving down from a resistance level, we will consider it a downtrend and follow all trading conditions. Moreover, you can follow Signal 22 that shows the overall market sentiment based on SAR, WPR, and MA.
- After confirming the bearish trend, we should find the price between the middle and upper bands of QuadReg.
- Later on, the price should move down, rejecting bulls from the resistance line.
- Lastly, the MMR is bearish and shows with a Red histogram below the zero lines.
Entry
In the bearish trading method, a rejection from the resistance level is very important. The rejection might be the bearish pin bar or two bars. After that, open the trade on the next candle that closes below the MA RSI with an appropriate lot size.
Stop Loss
The last hope of sellers is at the Upper Band of QuadReg. Therefore, the conservative approach is to set the stop loss above the Upper QuadReg, and the aggressive approach is to set the stop loss above the entry candle.
Moreover, set it 10-20 pips above the exact level to avoid unexpected touch and reverse.
Take Profit
The ultimate target of the bearish trade is the Lower bands of the Quad Reg. Therefore, the final take profit would be 10 pips above the QuadReg Lower Bands.
Moreover, you should make some partial close after reaching 1:1 R: R and move the stop loss at breakeven to make the trade risk free.
Conclusion- Trading Psychology
Trading psychology is the final element that completes this strategy. Make sure to follow below-mentioned rules in every trade:
- Study every element of the strategy to understand the logic of trading.
- Keep your brain bias free by not watching external news, events, or opinions.
- Do not use too many strategies to get confused.
- Stick to major currency pairs to get the best output.
