Introduction to the Fiji Forex Strategy
The Fiji Forex Strategy can be categorized as a trend-following forex trading strategy. You can successfully use it to forex spot market swing levels, trade entry points, and exit signals. Moreover, that forex strategy takes accurate trend-identifying gauges like Fiji Trend and Heiken Ashi, which can deliver the trend signals without lagging issues.
The Simple Fiji Forex Strategy fits all mt4 timeframes and currency pairs. It is shown directly on the main trading chart and in a window below it. The main default settings can be modified directly from the input tab. Feel free to experiment with the indicator settings and parameters to fit your preferences.
How to trade with the Simple Fiji Forex Strategy?
The Simple Fiji Forex strategy consists of three main forex indicators, which are the following:
- Fiji BB: that forex indicator is based on the famous forex Bollinger Band indicator. Its role is to identify the potential chart swing areas of the market that occur when the chart price touches one of the bands. For a long buy entry, look for the price to hit its lower band. Similarly, aim to enter sell trade from the upper band level of the indicator for a short entry. In addition, you may also use these bands to determine the top levels of the current trend.
- Fiji Trend: the Fiji Trend forex indicator works as chart support to the Heiken Ashi candles. It displays a series of upward and downward arrows. It is based on a crossover between 5 MA and 11 ATR. That crossover defines the forex market trend direction. Both directions of the Heiken Ashi indicator and Fiji Trend should be in agreement before opening a live trade.
- Heiken Ashi: it is one of the world’s most popular candlestick indicators. White candles indicate a bullish trend momentum, and red reflect a bearish trend momentum.
Buy Signal
Follow these steps for a long trade:
- The price touches the lower band of the Fiji BB.
- Heiken Ashi candles turns white
- Fiji Trend arrows switch upwards.
- Buy-entry trade is triggered after the above conditions are met.
- Set stop loss(SL) a few pips below the lower Fiji BB band.
- Take profit(SL) or exit trade whenever the Fiji BB indicator provides opposite arrows, or use your preferred method of trade exit.
Sell Signal
Follow these steps for a short trade:
- Price touches the upper band of the Fiji BB.
- Heiken Ashi candles turns red
- Fiji Trend arrows switch downwards.
- The sell-entry trade is triggered after the above conditions are met.
- Set stop loss(SL) a few pips above the upper Fiji BB band
- Take profit(TP) or exit trade whenever the Fiji BB indicator provides opposite arrows, or use your preferred method of trade exit.
As always, to achieve the best results, remember about proper money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable market times and conditions like low volume/volatility, beyond major forex sessions, exotic chart currency pairs, widespread, etc.
How to set up the Simple Fiji Forex Strategy in MetaTrader MT4?
Installation Guide
Download the Fiji Forex Strategy.zip archive at the bottom of this post, unzip it, then copy and paste the forex indicators files of the Fiji Forex Strategy into the MQL4 folder of the MT4 trading platform.
You can gain access to this Data folder by clicking the menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Furthermore, to run the Fiji Forex Strategy, you must copy the template file into the templates folder. To proceed, right-click on a chart, then Template > Open Templates, and copy the Fiji Forex Strategy. tpl file into that folder. Select the file and Open it to load the system on your chart.
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Bottom Line
The Fiji Forex Strategy is worth adding to your forex trading collection. A good forex strategy will enhance your chance of success. Nonetheless, remember to have realistic expectations. Like any other forex technical analysis tool, is not capable of providing accurate entry signals 100% of the time. Thus, this forex trading strategy provides false entry signals occasionally. Its performance will change significantly depending on market conditions.
