Forex Envelope Reversal Trend Following Strategy
Forex Envelope Reversal Trend Following Strategy;
Time Frame 15min.
Pairs: All
Envelope Reversal is an trading system based on these indicators: envelope, RSI and bollinger bands.
Indicators:
20EMA
Envelope Set for 15min: 0.10, 0.20, 0.30, 0.40.
RSI (9) With Bollinger Bands (15, 1)
Long Entry
Wait that Price is outside the envelopes (0.4) and the RSI Breaks down Lower band of BB, after wait that RSI Breaks up Lower Band of BB, entry at open next bar.
Short Entry
Wait that Price is outside envelope (0.4) and the RSI Breaks up Upper band of BB, after wait that RSI Breaks down Upper Band of BB, entry at open next bar.
Exit Position
Set Profit Target with this system at the 20 EMA line, or aggressive at the 0,10 envelope line.
Place Stop Loss on low (for sell)or high (for buy) of the entry bar.
P.S. This is not a trend following System
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 Envelope Reversal Trend Following Strategy?
- Download Forex Envelope Reversal Trend Following 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 Envelope Reversal Trend Following 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”.
