This is a relatively conservative forex strategy. It can still produce some amazing results. It uses predefined candle size together with CCI momentum as an entry trigger. All positions are only entered in the direction of main trend defined by double EMA.
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At all times, profits are protected by trailing stop. Trailing stop is the only method of position liquidation as do not define any take profit levels upon entry. Also, strategy doesn't allow opening multiple positions at the same time.
Strategy was tested for profitability on historical data with positive results.
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Used forex indicators
All tools applied on 1H chart of any major currency pair. Settings were used in test since 2013 data EURUSD.
Exponential moving averages (EMA) with period 250 Slow EMA and period 200fast EMA. Position of EMAs relative to each other will determine trend.
Commodity channel index (CCI 20). Momentum trigger. CCI rising above 100 line, coupled with big upwards candle will trigger long trade. Short trade is triggered by CCI falling below -100 line. Adjust with CCI period input.
Big candle filter (min, max input) Candle of specified size, taller than average candle will signalize sufficient momentum on CCI signal for position entry. By adjusting the candle size, signal sensitivity can be modifies (min,max input)
Universal trailing stop. Trailing stop is adjusted after each candle close, placed behind its low for long positions. And above its high for short positions. Extra deviation for trail stop input, will adjust the additional distance between candle and trail stop.
Forex strategy rules
SELL:
EMA fast trending below EMA slow. Downtrend is present in the chart, we will enter short trades only.
CCI falls below -100 line together with strong bearish candle. Once the candle closes we enter the trade short.
Trailing stop is placed above signal candle high upon entry and trailed with each consecutive candle close.
BUY:
EMA fast trending above EMA slow. Uptrend is present in the chart, we will enter long trades only.
CCI rises above 100 line together with strong bullish candle. Once the candle closes we enter the trade long.
Trailing stop is placed below signal candle low upon entry and trailed with each consecutive candle close.
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Disclaimer: 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.
