Summary
:
Forex
Trading with Retracement Trend Following Strategy is a combination of smoothed
moving averages and envelope indicator.
Metatrader
Indicators :
- Moving average (3, Smoothed)
- Moving average (8, Smoothed)
- Envelope indicator period 5 deviation 0.5
- Envelope
indicator period 5 deviation 1.0.
(The deviations of the second envelope indicator depends by volatility of the
currency pair this is only a indicative value.)
Trading
Conditions :
- Chart Timeframe : Daily
Timeframe
- Currency Pairs : Any
pairs.
Long
Position Entry :
1. 3 Moving average smoothed must cross up 8
Moving average smoothed;
2. The price must pullback.
3. Red candle with body must be within
(high/low/close) the upper first red envelope.
4. Place a pending order for the next day 4 pips
above the high of the setup candle
5. should be place on the previous
swing. Move SL after 40-70 pips at -25 pips by entry point. Number of pips
depends on the currency pairs.
Short
Position Entry :
1. Long Position Entry conditions are reversed.
Exit
Rules :
- Profit Option 1 : Price touch the blue envelope band
- Profit Option 2 : moving average smoothed cross in opposite direction
How to install Files?
- Download *.zip file.
- Copy Indicators folder to your Metatrader
Directory / indicators /
- Copy Template folder to your Metatrader
Directory / templates /
- Copy Libraries folder to your Metatrader
Directory / Libraries /
- 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