The MA Ribbon Filled Trading Strategy is a combination of three custom forex indicators that are put together to give accurate trading signals.
The strategy can be quickly and easily adopted by currency traders who’re void of experience, as well as experienced traders.
MetaTrader4 Indicators: MMR.ex4 (default setting), MKNC_4.ex4 (default setting), MA ribbon filled.89.21.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Recommended Trading Sessions: London/New York Session for timeframe’s below 30-minutes, any session for timeframe’s above the 30-minutes.
Currency Pairs: Any pair + Gold
Buy Example (click the image for full size):
Long Entry Rules:
Enter a buy position when the following indicator patterns are on full glare on the activity chart:
- Watch out for a bullish candlestick to open and close above the MA ribbon filled.89.21 crossover, followed by green/lime bars aligned above the red line.
- The MKNC_4 indicator dotted blue line crosses the dotted red line bottom up, with the dotted blue line running above the dotted red line.
- When the green bars of the MMR indicator forms above the zero mark.
Stop Loss for Long Entry: Pick your stop loss ≥5- 20 pips below the red line of the “MA ribbon filled.89.21” indicator (distance depends on the timeframe being used)
Exit Strategy/Take Profit for Long Entry:
The exit strategy/take profit strategy should be based on the following conditions:
- Wait for the MA ribbon filled.89.21 crosses above price bars and the red histogram sitting on top of the green line.
- The MKNC_4 indicator lines crosses with the red dotted line sitting above the blue dotted line.
- When the main DodgerBlue MMR indicator line crosses the zero mark downward.
Sell Entry Rules:
Short entry conditions for The MA Ribbon Filled Trading Strategy are as follows:
- The MA ribbon filled.89.21 crosses above price bars, with the red histogram sitting on top of the green line.
- The MKNC_4 indicator lines crosses, while its dotted red line sits above the blue dotted line.
- The MMR indicator forms red histogram below the 0.00 level.
Stop Loss for Short Entry: Pick your stop loss ≥5- 20 pips above the red line of the “MA ribbon filled.89.21” indicator (distance depends on the timeframe being used)
Exit Strategy/Take Profit for Short Entry:
The exit strategy for a sell entry is reverse of those seen for a buy entry as shown below:
- Wait for the MA ribbon filled.89.21 crosses below price bars and the green/lime histogram sits on the red line.
- The MKNC_4 indicator lines crosses with the red dotted line sitting below the blue dotted line.
- When the main DodgerBlue MMR indicator line crosses the zero mark upward.
About The Trading Indicators
The MMR is an awesome indicator for technical analysis. It combines a strategy hinged on MA crossover along with RSI and MACD.
Traders can deploy the indicator in identifying new trends, locating oversold and overbought sessions.
The MKNC_4 indicator offer signals in a vivid manner via its red dotted line and red dotted line and lastly the “MA ribbon filled.89.21” is an indicator that is based on moving average.