EFS Forex Trading Strategy

EFS stands for easy-forex-system custom indicator and as such the “EFS Forex Trading Strategy” combines three custom indicators to deliver bullish and bearish market signals. It’s a great FX system for beginners and seasoned traders alike.

Chart Setup

MetaTrader4 Indicators: Fratelli_MACD.ex4 (default setting), Fisher_Yur4ik.ex4 (default setting), easy-forex-system.ex4 (default setting)

Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours

Recommended Trading Sessions: Any

Currency Pairs: (USD/CHF, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, NZD/USD, EUR/CHF)

Download

Download EFS Forex Trading Strategy

Buy Example (click the image for full size):

EFS-forex-trading-strategy

Fig. 1.0

Strategy

Long Entry Rules:

The following conditions or rules are indicative of a buy signal in the market based on the following indicator/chart pattern(s):

  1. If the candlestick opens and closes above the blue line of the easy-forex-system custom indicator, it is a pointer that price pressures favors the upside.
  2. The lime colored histograms of the Fisher_Yur4ik custom indicator forms above the 0.00 level, a pattern that supports a bulls market.
  3. The formation of lime colored dotted lines of the Fratelli_MACD custom indicator supports a bullish trend.

Stop Loss for Long Entry: Place stop loss below the green line of the easy-forex-system custom indicator in line with personal money management rules.

Exit Strategy/Take Profit for Long Entry

Exit or take profit from position(s) when the following indicator or chart patterns become visible:

  1. If a bearish candlestick closes below the green line of the easy-forex-system custom indicator, it signals a reversal and exit should be triggered.
  2. If red histograms of the Fisher_Yur4ik custom indicator forms below the 0.00 mark, it alerts of a reversal and supports the reversal stance in #1.
  3. If the magenta colored dotted lines of the Fratelli_MACD custom indicator forms, it supports a reversal sentiment and as such an exit is advised.

Sell Entry Rules

Enter a sell order when the following indicator/chart patter(s) are in display:

  1. If the candlestick opens and closes below the green line of the easy-forex-system custom indicator, it is a pointer that price pressures favors the upside.
  2. The red histograms of the Fisher_Yur4ik custom indicator forms below the 0.00 level, a pattern that is in favor of a bearish trend.
  3. The formation of magenta colored dotted lines of the Fratelli_MACD custom indicator supports a bearish signal.

Stop Loss for Sell Entry: Place stop loss above the blue line of the easy-forex-system custom indicator in line with personal money management rules

Exit Strategy/Take Profit for Sell Entry

The following condition will define your exit or take profit strategy for your sell position(s):

  1. If we see a bearish candle closing above the blue line of the easy-forex-system custom indicator.
  2. If lime colored histograms forms above the 0.00 level of the Fisher_Yur4ik custom indicator.
  3. If we see lime colored dotted lines of the Fratelli_MACD custom indicator, an exit should be triggered.

EFS-forex-trading-strategy1

Fig. 1.1

Free Download

Download The EFS Forex Trading Strategy

About The Trading Indicators

The easy-forex-system.ex4 custom indicator deploys three variable sets in determining trends, represented by the red, green and blue line.

The Fisher_Yur4ik.ex4 indicator oscillates between -3.072 and 2.756 extreme readings, and signals are bullish/bearish when above/below the 0 mark.

The Fratelli_MACD.ex4 MT4 custom indicator is built on the widespread MACD (Moving Average Convergence-Divergence) indicator. The indicator is able to offer clues on trend strength and weakness via dotted lines.

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