In this expert advisor, combination of two slow period EMAs are used to identify the major trend in our timeframe. Another two EMAs are used to find an entry and the exit for our swing trade.
Expert rides the trade for as long as possible and only in the direction of general trend.
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Used forex indicators
Exponential moving averages (EMA) 500 and 250. Slow calculation period is used to identify major trend in our currency pair. All trades are taken only in confluence with this general market direction. Faster EMA 250 trending above slower signalize uptrend and vice versa for downtrend.
Second EMA tandem (14 and 21). Standard procedure for EMA crossing entry is used here. Faster EMA crossing slower signalize entry in respective trade direction and closing of previous position. Expert advisor will wait for fully closed candle to confirm the validity of crossing. No additional stop loss o profit target is used. Expert uses only EMA crossing to determine exit and entry.
Notes to input:
Lots: Default lot size used for all the trades
Fast EMA period: Calculation period of faster signal EMA
Slow EMA period: Calculation period of slower signal EMA
Filter EMA slow: Calculation period for slower filter EMA
Filter EMA fast: Calculation period for faster filter EMA
Expert advisor is provided freely as it is.
For your own benefit, test is both on historical data and forward demo data.
Live use only on your own risk.
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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.