Profitable Strategies

If you want to be a successful forex trader then you need a plan or strategy to help you decide what trades to make. There are many different types of strategies but none of them are a one size fits all. Each trader needs to develop a strategy that suits them and their circumtances.

10 Pips A Day

System is very simple, filtered by other indicators, as follows:

  • Timeframe: 30M
  • 8 EMA (applied to Close) & 13 EMA (applied to Open)
  • Trend lines & Regression channels to help spotting intraday breakouts

Filters:
  • MACD (13, 21, 8)
  • 8 %R (levels -80 and -20 visible) over 13 RSI (applied to Open)
The 8%R is the "Williams Percent Range" indicator. Add it to your chart and it will open a separate window. The parameters for it are a period of 8, (and add levels of 80 & 20 if they're not defaulted).
Then drag & drop the "RSI" (Relative Strength Index) indicator to the Williams Percent indicator window so that it overlays it (not in it's own window). The RSI period is changed to 13 (14 is default).


Signal:

  1. EMAs cross
  2. MACD goes above or bellow 0 level
  3. Spot a break of a trendline or regression chan

Rules of entry:

  • Always at the close of the candle.
  • For long: candles must be above the 2 EMAs (for short: bellow)
  • Entry candle must break or be above/bellow the trendline or regression channel.
  • %R must be bellow -20 for long and above -80 for short
  • Entry must be placed at maximum 4 MACD bars since MACD turned up or down.

by: PIPology



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