This is very simple system and very easy to use i think that one system have to be simple not so difficult lime many other system.This is the system …
Add 18 and 28 EMA in RED and also add 5(blue) and 12(orange) WMA in 1h or 30 minute time frame but 30 minute will give you more whipsaws.
Rules:
Entry Signals
You should only open a position, when the red tunnel is extremely
narrow or crossed !
LONG: 5 WMA & 12 WMA cross the red tunnel upwards.
If the 5 WMA also crosses the 12 WMA upwards, then the signal is
extra strong.
RSI >50
SHORT: 5 WMA & 12 WMA cross the red tunnel downwards.
If the 5 WMA also crosses the 12 WMA downwards, then the signal
is extra strong.
RSI<50
Exit Signals
Signals that show the end of the chosen trend
-
Long: The price has reached a top and 5 WMA dives under 12 WMA
Close position -
Short: The price has reached a bottom and 5 WMA jumps above 12 WMA
Close position
Always close your position when boundry�s of the red tunnel cross
eachother or when they become so narrow that they are one! This is
a clear sign of a trend reversal. After you see this, close your
osition and open a new postion in the other way (If you were long,
close, open a short postion)
When in a trade and the 5 WMA & 12 WMA cross the red tunnel ->
Pay attention! As long as the red tunnel boundy�s doesn�t cross
eachother there is no problem, but often this is a sign that they will!
This is one very good strategy i suggest to use is with pairs live GBP/USD, EUR/JPY, GBP/JPY because this pairs are the most violently pair in forex
pne more think add Parabolic SAR thats all:) you have to look at Parabolic sar also it provides signals much earlier i
ll be very happy if this help someone of you i`ll post one or two other system but this for now is very good i use system which give me more than 300 pips per day! happy trading