Trading Strategies are a special kind of indicator. Trading Strategies can be applied to your charts to aid decision making, particularly for entering and exiting trades.
When you apply a Trading Strategy, you will typically see blue and red arrows appear on your chart. These arrows indicate where this particular strategy suggests opening and closing positions. If you are looking to open a long position, an up blue arrow indicates the entry point, while the red arrow indicates the exit point. Of course, if you are looking to open a short position, the arrows indicate the opposite.
Back-testing results of the strategy will also appear within the ‘Strategy Tester’ tab on the bottom toolbar. Ascertaining the success rate of a Strategy is incredibly important before you begin to fold its suggestions into your decision making.
Find the ‘fx indicators’ icon in the top toolbar on a charting screen to search for and apply trading strategies. Click this icon to bring up a window that lets you search the Strategy library.
Bear in mind, this window defaults to searching for Indicators first. Find the ‘Strategy’ tab directly under the search bar to bring up only a list of available Strategies. Strategies appear with an after its name, while Indicators do not.
Much like the available set of Indicators, Strategies can either be ‘Built-ins’, ‘Community Scripts’, or ‘Invite-only scripts’. If you are searching for community-made Strategies, further refinement can be made by filtering for ‘Editors’ picks’, ‘Top’, and ‘Trending’. Filtering by these categories can help you identify the most successful Strategies as they have been trialled and vetted by thousands of traders already.