Champion Forex Trend Following Strategy
This is a trend following system that also uses EMAs as indicators.
Forex Indicators and setups:
- EMA (exponential moving average) : 5(White), 10, 20, 50
- RSI: 14
- Stochastics 5, 3, 3
- Zig Zag: 12, 5, 3
Instructions:
Go to the previous daily candle and Draw 3 horizontal lines:
- High
- Low
- Mid
The market could be in a downtrend If the current price action is below the 50% M (Mid-Range) of the previous candle.
The market could be in an uptrend if the current price action is over the 50% M (Mid Range) of the previous days candle.
STOP LOSSES:
- For Intra Day, set SL to 35 to 50 Pips
- For swing, set the SL previous daily candles` High/Low
For Long Entry:
- A Green arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
- A Whole candle closes above the 5 EMA (exponential moving average) (White) /Entry Confirmation/
Exit position when:
- A Red arrow signaling an EMA (exponential moving average) cross /Exit Recommendation/
- A Whole candle closes below 20 EMA (exponential moving average) (Green) /Exit Confirmation/
For Short Entry:
- A Red arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
- A Whole candle closes below 5 EMA (exponential moving average) (White) /Entry Confirmation/
Exit position when:
- A Green arrow signaling an EMA (exponential moving average) cross. Exit Recommendation
- A Whole candle closes above 20 EMA (exponential moving average) (Green). Exit Confirmation
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