Forex Double Channel EMA Trading Strategy
Forex Double Channel EMA Trading Strategy;
Indicators
* Trade on daily chart (swing trading forex strategy)
* 5 EMA channel (applied to the close and add levels 50, -50);
* 10 EMA channel (applied to the close and add levels 50, -50);
* Stochastic indicator (11,3,3);
*RSI indicator (14);
Trading Rules:Double EMA Channel with RSI and Stochastic Forex Strategy
Entry Rules
Enter long if:
1. The 5 EMA channel crosses above the 10 EMA channel and both Stochastic indicator lines are heading up (do not enter if the stochastic indicator lines are already in the overbought territory)
2. RSI indicator is greater than 50
Enter short if:
1. The 5 EMA Channel crosses below the 10 EMA Channel and both stochastic indicator line are heading down AND (do not enter if the stochastic lines are already in oversold territory)
2. RSI indicator is less than 50
Exit Position opions:
Exit when the 5 EMA channel crosses the 10 EMA channel in the opposite direction of your trade;
if RSI indicator crosses back to 50;
with Profit Target 150-170 pips and Stop Loss = 70-80 pips.
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Double Channel EMA Trading Strategy?
- Download Forex Double Channel EMA Trading Strategy.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex strategy
- Load indicator on your chart
How to uninstall Forex Double Channel EMA Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
