85# Ema's with Trading Range Trading System

Submit by Joy22

2.a If the current price action is below the 50% M (Mid Range) of the previous days candle then our bias is bearish

2.b If the current price action is over the 50% M (Mid Range) of the previous days candle then our bias is bullish

STOP LOSSES:

Intra Day - 35 to 50 Pips

Swing - The previous daily candles` High/Low

LONG:

2.a Our entry is defined by:

- A Green arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
- A Whole candle closes above the 5 EMA (exponential moving average) (White) /Entry Confirmation/

2.b Our exit is defined by:

- A Red arrow signaling an EMA (exponential moving average) cross /Exit Recommendation/
- A Whole candle closes below 20 EMA (exponential moving average) (Green) /Exit Confirmation/

SHORT:

3.a Our entry is defined by:

- A Red arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
- A Whole candle closes below 5 EMA (exponential moving average) (White) /Entry Confirmation/

3.b Our exit is defined by:

- A Green arrow signaling an EMA (exponential moving average) cross /Exit Recommendation/
- A Whole candle closes above 20 EMA (exponential moving average) (Green) /Exit Confirmation/

Forex Indicator

2 - Indicators.rar

compressed file archive 16.7 KB

Trading System

3 - MT4 Template.rar

compressed file archive 8.4 KB

Share your opinion, can help everyone to understand the forex strategy.

Comments: 1

#1
Kxeroo (Thursday, 16 January 2014 03:20)

Excuse me but why are you using so many EMA's that is not explained. You have RSI and Stochastic indicators but no explanation about them.Could alaborate this system and be more specific please.