This is a forex strategy using proven and trusted liquidation model, that is quite complex. Once the strategy identifies trend, trade entry is filtered and postion is entered multiple times. Trades are closed either by overall profit method, or trailing stop. This method is effective for very wide variety of setting and timeframes.
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System was tested on historical data (EURUSD since 2003) with some nice results. However, we did not succeed in replicating them in TICK data.
Forex strategy tools and indicators:
Exponential moving averages (EMA 600,250 and 200,100) trend filtering. Two EMA pairs re used to determine trend direction. Slower EMA pair focuses on the main trend, while the faster pair helps us to avoid trend reversals. Fast pair helps us to make sure that current price development is aligned with the main trend.
Commodity channel index (CCI 21). Working as an immediate momentum signal. Considering the use of advanced trailing stop in this forex strategy, rapid price movement will make our profits protected with TS. This will be our goal.
Momentum candle (defined candle range 0 – 150 pips). Secondary signal. Momentum must be also confirmed by immediate price development. Candle must close in the direction of main trend and cci momentum. It should also have defined body range.
Adding to the winner pyramiding module. If trade exists, new trade can only be opened if account profit is larger than number of opened trades*10 pips. This simple pyramiding condition ensures that we increase the leverage on the winners while closing the losers alone.
Advanced trailing stop (extra deviation 50 pips): TS is adjusted with each candle close for every single trade. Not only are trades protected by trailing stop, the protection is adjusted to cover existing profits.
Target profit module (10 USD). Target profit is dependent on overall account profit (in base currency).
Expert advisor: It can be used only per one currency pair per account. Also do not use any other experts when using this expert advisor (liquidation is equity based).
Forex strategy rules
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SELL
In both EMA pairs, faster EMA is trending below slower EMA. This signalizes downtrend and only short trade can be entered.
CCI falls below the -100 value. Primary downward momentum signal.
Bearish signal candle with defined body range close. Secondary downward momentum confirmation.
We enter the trade short on signal candle close. TS is placed above the high of candle + extra distance above, covering the unexpected market volatility.
If trade exists, new trade can only be opened if overall account profit is greater than number of opened positions*10 pips.
Target profit: overall target may be applied.
BUY
In both EMA pairs, faster EMA is trending above slower EMA. This signalizes uptrend and only long trades can be entered.
CCI rises above 100value. Primary upward momentum signal.
Bullish signal candle with defined body range close. Secondary upward momentum confirmation.
We enter the trade long on signal candle close. TS is below the low of signal candle - extra distance above, covering the unexpected market volatility.
If trade exists, new trade can only be opened if overall account profit is greater than number of opened positions*10 pips.
Target profit: overall target may be applied.
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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.
