To find a perfect entry in forex trading consistently, is extremely difficult, if not impossible. This forex strategy looks to enter the trade in the direction of trend using multiple entry (up to 12) and using tight stop loss, with each position potentially covering loss of previous positions, without using any aggressive money management methods.
This strategy was tested with very good results, on both historical data and forward data. We include full and free expert advisor trading this amazing forex strategy for you on MT4.
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.
Strategy was tested on 1H EURUSD data from 01.012013 to 01.012016.
Forex strategy indicators
RSI (relative strength index) 50 and 20. Additional lines of 51 and 49 will be used. Both indicators trending above 51 line will signalize uptrend and both trending below the 49 line will signalize downtrend. Trade is always opened in the direction of market flow- trend.
Envelopes (deviation 0,1, period 10) Indicator will help us find a good price for entry. Envelopes consists of two moving averages applied on low and high price, thus creating tunnel. We will sell at upper boundary and buy at bottom boundary.
Forex strategy rules
SELL:
Both RSI 50 and 20 are trending below 49 line. Downtrend.
Price rises above upper envelopes line. We place first pending sell limit order 10 pips above close of candle that penetrate upper envelope.
Then we place another 11 sell limit orders, in 10 pips increments above first order. Each with 10 pips stop loss. Therefore, triggering order at higher price would automatically close previous trade at 10 pip loss.
Take profit: First order has TP of 20 pips. Each following order has tp +10 pips of previous order (second: 30,third :40,fourth: 50,fifth: 60.....)
BUY:
Both RSI 50 and 20 are trending above 51 line. Uptrend.
Price declines below bottom envelopes line. We place first pending buy limit order 10 pips below close of candle that penetrate bottom envelope.
Then we place another 11 buy limit order, in 10 pips increments below first order. Each with 10 pips stop loss. Therefore, triggering order at lower price would automatically close previous trade at 10 pip loss.
Take profit: First order has TP of 20 pips. Each following order has tp +10 pips of previous order (second: 30,third :40,fourth: 50,fifth: 60.....)
Notes: All postions are entered with equal lot size. Strategy works very well with many different settings. We enclose fully automated trading system using this strategy. You can test it rapidly and without too much effort. Once strategy works for you let us know.
We recommend you to use this forex strategy with one of our trusted forex brokers (STP/ECN with MT4 bridge).
To win you must trade with broker on your side.
Dislaimer: Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer.
TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.
