261# Egwig's Strategy
Submit by Joy22 ( Written by Egwig Lafitte)15/12/2011
The setup for a SELL trade. (See following images.)
A RED down-arrow appears on the chart. see 1.
A MAGENTA confirmation target appears. 2
An alert sounds.
If the price moves to the confirmation target:-
A YELLOW confirmation arrow appears. 3.
A second alert sounds.
A YELLOW Trailstoploss indicator starts to form. 4.
For the SELL trade to be fully confirmed the following conditions must ALL be met.
The color change indicator must be RED. 5.
The GREEN line of the Stochastic must be below the RED line.
Both lines must be moving DOWN the chart. 6.
The GREEN line of the MACD must be below the RED line.
Both lines must be moving DOWN the chart. 7.
The MTF Signals indicator shows RED in current & higher time frames. 8.
EXIT the trade at your chosen target or be guided by the YELLOW TrailStop. 9.
Put the template in the templates folder (the one that already contains .tpl files)
Put the indicators in the MT4 indicators folder.
Open the MT4 platform.
Load the Egwig template onto any chart. I prefer the EURUSD 1 Hour chart.
If the price closes back over the dashed ORANGE line consider closing for a small loss.
In the pictures Egwig's Strategy forex system in action.
Egwigs Forex Strategy
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