1H Swing Trading on EURUSD - MT4/MT5 Resources
A picture is worth a thousand words…
Here are the top seven trends of 2020, starting in March 2020.
The system uses a simple moving average (SMA) along with a stochastic RSI (SRSI) calculated over a 96-hour period to represent trends, as shown in the chart above. When the price is above the SMA and the SRSI is above 40, it is a bull trend; when the price is below the SMA and the SRSI is below 60, it is a bear trend.
Once a new trend begins, it is important to draw corresponding trend lines over the next few hours or days. Trends are used to avoid false entries, which can occur when new trend signals are given without previous trend lines being broken or when they are confirmed when trend lines are broken.
This system is created and adjusted only for EURUSD and occasionally EUROJPY. Other currency pairs discussed here will not be traded.
Entry is only when a new trend appears, exit is up to you, but the last buy is when the opposite signal (opposite trend) appears.
Please note that money management, risk, stop loss, etc. will not be discussed here, because everyone is responsible for the risk he can bear.
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Before posting, please consider the following:
- Please read at least the first 10 pages of this thread before posting anything, any subsequent questions that have been answered in the first 10 pages will be ignored.
. - Please be polite and respectful to everyone like we would in real life.
. - Please do not post diagrams or other material that is not related to the system or the different pairs.
. - Please do not add your own rules and/or metrics to the system.
Please note that failure to comply with these rules may result in your ban from participating in the topic.
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That's all for the description and rules. If you'd like to give it a try, I'd love to hear from you or help you if needed.
P.S. Posts #2 to #178 show the original system when charting SMA and SRSI separately. The actual system merges the two indicators into one indicator displayed on the price window, which tests the condition of a new trend and changes the color of the SMA and the fill between the SMA and the price when a new trend is detected.
Also note that I started with SMA-100 and later changed to SMA-96, so don't be confused if you see SMA-100 in previous posts, now it's SMA-96.
Latest versions of MT4 indicators:
Latest version of Trading View indicator:
The upgraded 2021 version eliminates some of the noise.
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