There are no middle grounds in the market in terms of profitability, it is either you “win” or you “lose,” more so, your trading strategy will eventually determine your ultimate stand.
The free profitable 5/10/34 EMA forex trading strategy is composed of an advanced EMA arrows indicator and green/red colored histogram trading oscillator.
Learn below how to profit from this simple strategy in both up-and down trending markets:
MetaTrader4 Indicators: EMA 5 10 34 Crossoverl.ex4 (default setting), fouraverage-indicator.ex4 (Inputs Variable Modified; PeriodFA=50)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Initiate a buy order if the following indicator or chart pattern gets displayed:
- If the magenta upward pointing arrow of the EMA 5 10 34 Crossoverl.ex4 custom indicator is seen somewhat below the candlesticks as depicted on Fig. 1.0, price is said to pushed to the upside i.e. a trigger to buy the stipulated currency pair.
- If the lime histograms of the fouraverage-indicator.ex4 gets seen within its window (usually placed above the 0.00 level, while an accompanying lime upward pointing arrow gets placed on the activity chart below the candlesticks (refer to Fig. 1.0), price is aid to be in favor of a bullish signal.
Stop Loss for Buy Entry: Place stop loss 1 pip below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If during a buy signal the EMA 5 10 34 Crossoverl.ex4 custom indicator is seen to form a yellow downward pointing arrow that is aligned somewhat above the candlestick, price is said to be making a U-turn away from its current bullish sentiment, hence an exit or take will do.
- If the histograms of the fouraverage-indicator.ex4 turns red and gets positioned below the 0.00 level, with an accompanying downward pointing red arrow (refer to Fig. 1.0), it is a signal to exit or take profit at once.
Sell Entry Rules
Enter a sell order if the following holds true:
- If the yellow downward pointing arrow of the EMA 5 10 34 Crossoverl.ex4 custom indicator is seen somewhere above price bars as shown on Fig. 1.1, price is said to pushed to the downside i.e. a trigger to sell the specified currency pair.
- If the red histograms of the fouraverage-indicator.ex4 gets seen within its window (usually aligned below the 0.00 level, while an accompanying red downward pointing arrow gets placed on the activity chart above the price bars (refer to Fig. 1.1), price is aid to be tilting in favor of the bears.
Stop Loss for Sell Entry: Place stop loss 1 pip above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If during a sell signal the EMA 5 10 34 Crossoverl.ex4 custom indicator is seen to form a magenta upward pointing arrow that is aligned below the candlestick, it is an exit or take profit trigger.
- If the histograms of the fouraverage-indicator.ex4 turns lime and gets placed above the 0.00 level, with an accompanying upward pointing lime arrow (refer to Fig. 1.1) that is place below price bars, it is a signal to exit or take profit forthwith.
Sell Trade Example
About The Trading Indicators
The EMA 5 10 34 Crossoverl.ex4 custom indicator is a modified exponential moving average indicator that gauges trend.
The fouraverage-indicator.ex4 is a brand new forward-looking trend indicator designed by ExcStrategy team uses adaptive four-level averaging.
It is a quite powerful and efficient adaptive tool designed to fit into changing market conditions.