Following setup, might be the cornerstone for a large number of trading systems. It consists of two inseparable parts. First, we combine four exponential moving averages, to identify the trend. Four different calculation periods are used to avoid entering the market at trend reversals. Secondly we use RSI oscillator, with attention to detail. Making sure we enter the trade on completed signal and on candle close.
Get MT4 Expert Advisor trading this Forex strategy ↴
Backtest and optimize for any currency pair. Trade multiple instruments simultaneously, day and night.
Trade automatically, without errors and emotions. Save your time and energy.
This ensures high quality and accuracy of historical data. Therefore, we can combine those tools into a profitable forex strategy, that was tested on high quality historical data since 2003. Unlike the other systems, this forex strategy is relatively easy to trade. But why would you do that, when we have prepared an automated trading system for you !
Used tools and indicators
Following settings were used to test the system in 1H chart of EURUSD (tick data since 2003)
Relative strength index (RSI 3) RSI will tell us when to enter the trade. We will be looking for a good price for entry based on full RSI signal. RSI must return back to neutral, after visiting overbought oversold zone.
Max open trades: Strategy allows opening more than one trade per direction at the same time.
Forex strategy rules
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.
SELL
First tandem : EMA fast trending below EMA slow.
Second tandem: EMA fast 1 trending below EMA slow 2.
RSI rising above the 70 line. We enter on candle close once it returns below 70 line.
SL and TP are placed immediately upon entry.
Stop loss: 90 pips
Take profit: 20 pips
BUY
First tandem : EMA fast trending above EMA slow.
Second tandem: EMA fast 1 trending above EMA slow 2.
RSI falling below 30 line. We enter on candle close once it returns back above 30 line.
SL and TP are placed immediately upon entry.
Stop loss: 90 pips
Take profit: 20 pips
Get MT4 expert advisor trading this forex strategy
For best results, 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.
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.
