Forex EMA Band Trend Following Strategy

Trading Strategies 0 2,208



Summary : 

Forex EMA Band Trend Following Strategy based on a set of EMA filtered by filter RSI indicator and MACD indicator with EMA. The setting is for MT4 users because the indicators are only available for MT4.

 

Metatrader Indicators : 

- Set of EMAs from fast 5 EMA to slow 21 EMA.

- RSI filter (7 period);

- MACD with EMA periods (10, 20, 3, 7,).

 

Trading Conditions :

- Chart Timeframe : 15 Minute or Higher Timeframe.

- Currency Pairs : Any pairs.

 

<< EMAs band with RSI filter >>

Long Position Entry : 

1.     5 EMA Fast above 21 EMA slow

2.     RSI filter green bars

3.     MACD with EMA is greater than 0.

 

Short Position Entry : 

1.     5 EMA Fast above 21 EMA slow

2.     RSI filter red bars

3.     MACD with EMA is less than 0.

 

<< EMAs band with standard platform and RSI filter >>

Long Position Entry : 

1.     MACD should be above the 0 line;

2.     RSI must be below 70 line or above 30 line;

3.     Candle must be close above EMA area;

4.     Red or blue EMA must be clear in the chart. (not covered by other EMA).

 

Short Position Entry : 

1.     MACD should be below 0 line

2.     RSI must be above 30 or below 70 line

3.     Candle must close below the EMA area

4.     Red or Blue EMA must be clear in the chart.( not covered by other EMA)

 

Exit Rules : 

- Profit Option 1 : BUY - 5 EMA fast is below 21 EMA slow.

- Profit Option 2 : SELL - 5 EMA Fast is above 21 EMA slow

- Stop Loss Option : Previous swing

 

How to install Files?

- Download *.zip file.

- Copy Indicators folder to your Metatrader Directory / indicators /

- Copy Template folder to your Metatrader Directory / templates /

- Copy Libraries folder to your Metatrader Directory / Libraries /

- Start or restart your Metatrader

- Select Chart and Timeframe where you want to test your forex strategy

- Right click on your trading chart and hover on “Template”

- Move right to select Template

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