Forex Mogalef Bands Trading Strategy
Forex Mogalef Bands Trading Strategy:
Time Frame 30 min;
Currency pairs:any;
Metatrader Indicators:
CCI (period 11),
Mogalef Bands (25 ,30).
What is the Mogalef Bands?
The Mogalef Bands are determined by three lines calculated by Eric Lefort:
1. The center line: is the weighted level of the price. This is the theoretical center of the range of trading.
2. The top line: is the theoretical value of the lowest ‘high range.
3. The bottom line: is the theoretical value of the lowest ‘low range.
The lines above and below take into account the inherent volatility of the financial instrument.
Long Entry
A buy signal is given when the price comes out of the lower band of Mogalef without causing the shift of the bands and CCI crosses up above or touches the top red line.
Short Entry
sell the signal will be given, this time, when the price comes out of the upper band without causing the displacement of Mogalef bands and CCI indicator crosses down below or touches the top red line
Exit position
Stop Loss 20 pips
Profit Target 15 -20 pips depends by currency pair.
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 Mogalef Bands Trading Strategy?
- Download Forex Mogalef Bands 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 Mogalef Bands 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”.
