Forex Magic Formula Trading Strategy
Forex Magic Formula Trading Strategy:
Magic FX Strategy is trading system with based on Magic FX formula indicator. This is a simple way for filter this indicator for trading. The filter is trend following with two Moving Averages and MACD 2 line.
This forex strategy is for day trading or swing trading.
Time frame 15 min or higher.
Currency pairs: majors Indicies and major shares.
Indicators setting:
Magic FX formula default.
MACD 2 line (12, 26, 9).
11 exponential moving averages, close.
21 exponential moving averages, close.
Trading rules Magic FX Strategy
Buy
Magic Fx formula blue line.
MACD 2 line above zero line.
11 EMA> 21 EMA.
Option you can also entry after the signal when the Ema 11 crosses upward Ema 21.
Initial stop loss on the previous swing low.
Make profit with predetermined profit target or exit when Ema 11 crosses downward Ema 21.
Sell
Magic Fx formula red line signal.
MACD 2 line below zero line.
11 EMA< 21 EMA.
Option you can also entry after the signal when the Ema 11 crosses downward Ema 21.
Initial stop loss on the previous swing low.
Make profit with predetermined profit target or exit when Ema 11 crosses upward Ema 21.
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 Magic Formula Trading Strategy?
- Download Forex Magic Formula 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 Magic Formula 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”.
