The EMA Angle forex trading strategy is deployed for currency trading and makes use of 2 technical analysis indicators.
The indicators are being added unto the charts after which the trader can scan for valid buy/sell trade setups on all timeframe’s.
The EMA strategy can be used for scalping, day trading, swing trading and position trading on the 4 hour and daily time frame.
Check it out below:
MetaTrader4 Indicators: EMAAngleZero.ex4 (default setting), 5_bar_reversal_v0s1u71e_5.ex4 (default setting)
Preferred Time Frame(s): All
Recommended Trading Sessions: Any
Currency Pairs: All pairs
Buy Trade Example
Long Entry Rules
Initiate a buy in the market if the following rules or conditions hold sway:
- If the 5_bar_reversal_v0s1u71e_5.ex4 custom indicator forms yellow upward pointing arrow(s) that is(are) aligned below the candlesticks as shown on Fig. 1.0, price is said to be pressured higher i.e. a buy signal.
- If lime colored histograms on the EMAAngleZero.ex4 custom indicator aligns above the 0.00 signal line as depicted on Fig. 1.0, market sentiment is said to be bullish i.e. a buy signal.
Stop Loss for Buy Entry: Place stop loss below short-term support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the following chart or indicator patterns get displayed:
- If the 5_bar_reversal_v0s1u71e_5.ex4 custom indicator forms red downward pointing arrow(s) that is(are) aligned above the candlesticks as shown on Fig. 1.1, an exit or take profit is advised.
- If yellow colored histograms on the EMAAngleZero.ex4 custom indicator align below the 0.00 signal line, it is a trigger to exit or take profit accordingly.
Sell Entry Rules
Initiate a sell entry if the following rules or conditions are true:
- If a red downward pointing arrow that is aligned above the candlesticks is displayed by the 5_bar_reversal_v0s1u71e_5.ex4 custom indicator as seen on Fig. 1.1, price is said to be pressured lower i.e. a sell signal.
- If the EMAAngleZero.ex4 custom indicator displays yellow histograms that are aligned below the 0.00 signal line as illustrated on Fig. 1.1, market sentiment is said to be bearish i.e. a sell signal.
Stop Loss for Sell Entry: Place stop loss above short-term resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit on open orders if the following rules or conditions hold:
- If a yellow upward pointing arrow of the 5_bar_reversal_v0s1u71e_5.ex4 custom indicator appears while price is driving lower, an exit or take profit is advised.
- If the histogram on the EMAAngleZero.ex4 custom indicator turns lime and realigns itself above the 0.00 signal level, it is a trigger to exit or take profit accordingly.
Sell Trade Example
About The Trading Indicators
The EMAAngleZero.ex4 custom indicator is a filter that helps keeps traders away from sideways markets in the absence of any trend. It deploys EMA 34 along with an angle threshold of 0.2 to aid spot sideways market.
The 5_bar_reversal_v0s1u71e_5.ex4 custom indicator is trend following indicator that draws arrows on the chart, yellow arrows denote bullish trends while red arrows are for bearish alerts.