Double power forex strategy

 

This forex strategy employs oscillators – RSI and Stochastic, together with SMA (Smoothed moving average) as trend identification tool. Combination of these tools helps to pick great entry within any currency pair.

 

Timeframe: 1 Hour, 4 Hours, 1 Day

Any currency pairs.

Indicators:

SMA (Simple moving Average) 130

RSI (Relative strength index) period 3. Horizontal lines 80 (instead of 70), 20 (instead of 70).

Stochastic (2,3,3). Lines 70 (instead of default 80), 30 (instead of 20).

 

Forex strategy entry rules:

 

 

Buy:Price trending above 130 SMA – uptrend. RSI below 20. Stochastic lines crossed under 30 (horizontal line in indicator window). Price candle closed while all entry conditions were met.

 

Sell: Price trending under 130 SMA – downtrend. RSI over 80. Stochastic lines crossed over 70 (horizontal line in indicator window). Price candle closed while all entry conditions were met.

 

For the best results, trade with professional ECN/STP broker with MT4. If you can't trade with profit. Automatically copy the traders that are already profitable.

 

Exit rules:

Stop loss is placed at the latest swing, before position entry.

 

Take profit:

Exit position with profit when stochastic crosses its lines again. Alternatively use trailing stop. In this case trailing step should be equal to the distance between entry and stop loss.

 

 

 

 

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“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

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