7# Ribbon Explosion of Profits Forex Strategy
Ribbon Waves
Trend Momentum Strategy
Submitby Lorenz
Ribbon Explosion of Profits Forex Strategy is a trend momentum strategy based on indicators of trend and momentum that self-filter, managing to build a robust filter system that generates more operations in gain. The purpose of the system is to operate only in trend, avoiding as many false signals as possible, for this purpose I have built a complex filter system. In making this system I was inspired by an online but very confusing version that I simplified.
The system is based on metatrader 4 indicators so it is simple to replicate it in MT4, these indicators are all found. This winning system.
Setup strategy
Time frame 15 minutes or higher.
Currency pairs: any.
Metatrader 5 indicators
Main window
Exponential Moving average 200 periods, close.
Zig Zag NK (60, 5, 3).
MA Ribbon (fast MA 9 , Slow MA 76).
Color MACD Candles ( 12, 26, close).
T3 Ribbon defaul setting.
PTL (3, 7).
Sub window
In the same window:
MACD color (12, 26, 9) and Trix arrow (14, 8).
Trading Rules Ribbon Explosion of Profits Forex Strategy
Trade only in the direction of the main trend. Price above 200 EMA only buy. Price below EMa 200 only short.
Buy
Price above 200 EMA
Price above ribbon cloud.
MACD Color green bar.
Trix oscillator buy arrow.
PTL buy direction below the price.
Sell
Price below 200 EMA
Price below ribbon cloud.
MACD Color red bar.
Trix oscillator sell arrow.
PTL sell direction above the price.
Exit position options.
Place initial stop loss below/above the previous swing high/low.
Make profit at opposite PTL signal.
Make profit when the price close below/above of the cloud ribbon.
In the pictures Ribbon Explosion of Profits Forex Strategy trades examples.
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