148# EMA's Bands with RSI filter

Submit by FXTrader 13/09/2013

This is a trend following trading system based on a set of exponential moving averages filtered byfilter RSI indicator and MACD indicator with EMA.

This setting is for those who use a metatrader 4 platform as it has these indicators. For traders who did not have these available indicatiors I have a setting with standard indicators: exponential moving averages, MACD and RSI (default).

Time Frame 15 min or higher.

Currency pair : any,

Metatrader indicators:

Set of Ema's from fast 5 period exponential moving average color Dark Blu to at slow 21 period exponential moving average color dark blue);

RSI filter (7 period);

MACD with EMA periods (10, 20,3, 7,).

Standard Platform for trading forex indicators:

Set of Ema's from fast 5 period exponential moving average color Dark Blu to at slow 21 period exponential moving average color aqua);

RSI (9 period);

MACD periods (5, 26,1,).

Rules for EMA's Bands with RSI filter

Buy conditions:

5 EMA Fast above 21 EMA slow;

RSI filter red bars;

MACD with EMA >0.

Sell conditions:

5 EMA Fast above 21 EMA slow;

RSI filter red bars;

MACD with EMA >0.

Rules for EMA's Bands with RSI filter with standar trading platform

Buy Conditions:

• MACD should be above the 00 line;

• RSI must be below 70 line or above 30 line;

• Candle must be close above EMA area;

• Red or blue EMA must be clear in the chart. ( not covered by other ema).

Sell Conditions:

• MACD should be below 00 line

• RSI must be above 30 or below 70 line

• Candle must close below the EMA area

  Red or Blue EMA must be clear in the chart.( not covered by other EMA)

Exit position options

For buy when 5 EMA fast is below 21 Ema slow.

For Sell when 5 EMA Fast is above 21 Ema slow.

Initital Stop loss on the previous swing after n-pips in gain (n-pips= the nubers of the pips from entry point at the stop loss) move stop loss at the entry poiont or more.

Others optios for make profit:

Profit Target, ratio 1.5 stop loss or you can close trade when candle close inside the ema area.