The WarLord Trading System represents a trend-following MT4 trading strategy that ideally suits forex, stocks, and crypto-assets.
This system combines dynamic price envelopes with trend bars and multiple trend filtering oscillators. The bar arrow signal suggests how the price is reacting around the support/resistance levels of the envelope.
For instance, the price rejects the lower band of the envelope, and the bar arrow plots a yellow arrow below the respecting price candle signals the price is likely to initiate a bullish move ahead.
Trend 2 and Trend 3 are the momentum oscillators used to filter the trend signals assessed from the main chart window.
While backtesting the WarLord Trading System, we’ve found it a suitable strategy for scalping or day trading as it works better within 5-minute to 30-minute timeframe charts.
Target long when the price intends to move above the lower price channel (red-line). If the system delivers a yellow arrow below the price, consider it an uptrend continuation signal.
Next, activate the buy order right after the Trend 2 and Trend 3 oscillators plot blue bars simultaneously.
While on a long entry, try to place a stop-loss limit below the lower price envelope and consider an exit when the bar arrow signals a bearish trend.
The price enters the envelope by breaking the higher channel indicating an overall bearish trend ahead.
Like the above example, the price plotting a bearish breakout with a downtrend signal from the bar arrows is an ideal setup for going short.
Furthermore, the Trend 2 and Trend 3 oscillators start showing red bars to confirm the sell entry. Once you’re in a short position, place the SL above the higher envelope band and exit upon a bearish trend signals from the bar arrows.