Forex day trend following strategy

Trading Strategies 0 1,496



Summary : 

Forex day trend following strategy is based on exponential moving average.

 

Metatrader Indicators : 

- Exponential Moving Average (6, Close) BLUE

- from Exponential Moving Average (7, Close) to Exponential Moving Average (20, Close) GREEN

- Exponential Moving Average (21, Close) RED

- MACD (3, 26, 1).

- RSI (10 period) Oversold 30 level, Overbought 70 level.

 

Trading Conditions

 - Chart Timeframe : 30 Minute or higher timeframe.

- Currency Pairs : EURUSD, GBPUSD, AUDUSD, USDJPY, USDCAD, EURJPY, GBPJPY.

 

Long Position Entry : 

1.     MACD above 0 line.

2.     RSI must be below 70 line or above 30 line.

3.     Candle must be close above EMA area.

4.     Red or blue EMA must be clear in the chart. (Not covered by other EMA).

 

Short Position Entry : 

1.     MACD below 0 line.

2.     RSI must be below 70 line or above 30 line.

3.     Candle must be close below EMA area.

4.     Red or blue EMA must be clear in the chart. (Not covered by other EMA).

 

Exit Rules : 

- Profit Option : 1 to 3 or 1 to 2 ratio.

- Stop Loss Option : Last turning point.

 

How to install Files?

- Download *.zip file.

- Copy tpl file (Template) to your Metatrader Directory / templates /

- Start or restart your Metatrader

- Select Chart and Timeframe where you want to test your forex strategy

- Right click on your trading chart and hover on “Template”

- Move right to select Template

- You will see Trading System strategy is available on your Chart

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