Forex WPR Slow Trend Following Strategy
Forex WPR Slow Trend Following Strategy;
This trading system is a trend followin strategy based on three Exponential moving averageswith levels (50 and -50). I have add also a filter: WPR Slow indicator but it is optional.
Time Frame H1 and 4H
Indicators:
Exponential Moving Average 5; (with levels 50; -50)
Exponential Moving Average 11;(with levels 50; -50)
Exponential Moving Average 50;(with levels 50; -50)
Indicators :
Exponential Moving Average 5-period (EMA5, Black color in the
illustrations with levels 50; -50);
Exponential Moving Average 11-period (EMA11, Blue color in the
illustrations with levels 50; -50);
Exponential Moving Average 50-period (EMA50, Green color in the
illustrations with levels 50; -50);
Fileter optional WPR Slow indicator
1.2. Rules for Buy Signals (Long Trades):
We must first establish that we’re in a strong uptrend using these 3
rules:
1.EMA50 and EMA11 are both pointing up.
2. EMA5 is above EMA11.
3. EMA11 is above EMA50.
When we have these three conditions, we know that we’re in an uptrend.
Re-Entry wait for the price to fall back, and touch the EMA50.
Filter optional:( Wpr slow indicator confirmed with red bar sell signals).
- Stop Loss: We place a protective stop loss at -40 pips.
Profit Targets: When we have 40 pips in profit we exit one lot.
Move stop loss to break even . We then use a trailing
stop of 40 pips ,we move stop loss to 40 pips.
We can also move stop loss to the recent high each time price break that
high. That way, we can follow the trend until the end.
We know we’re in a strong uptrend because:
EMA50 and EMA11 are both pointing up, EMA5 is above EMA11, and
EMA11 is above EMA50.
Rules for Sell Signals (Short Trades):
We must first establish that we’re in a strong downtrend using these 3
rules:
1. EMA50 and EMA11 are both pointing down.
2. EMA5 is below EMA11.
3. EMA11 is below EMA50.
When we have these three conditions, we know that we’re in a downtrend.
Re-Entry wait for the price to fall back, and touch the EMA50.
Filter optional:( Wpr slow indicator confirmed with red bar sell signals).
– Stop Loss: We place a protective stop loss at -40 pips.
– Profit Targets: When we have 40 pips in profit .
Move stop loss to break even . We then use a trailing
stop of 40 pips .
We can also move stop loss to the recent low each time price break that low.
That way, we can follow the trend until the end.
Re-Enter long o Short when the price bounce 50 Exponential moving average channel.
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 WPR Slow Trend Following Strategy?
- Download Forex WPR Slow 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 WPR Slow 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”.
