Magic 100 (Magic 100) | Foreign exchange EA download-MT4/MT5 resources-MetaTrader 5 resources
Hello everyone,
Let me give you a quick rundown of my trading system...simple and profitable....yeah, there's nothing magical about this one
Timeframe H1 , but it also works on higher timeframes!
All you need is a strong trend, and common sense. We only trade in the direction of the trend!
Buy : The price is above the 100EMA and you place a buy stop order above the red candle. Stop loss is placed below the candle. TP is 2R (R:R is about 1:2 or 1:3)
see pictures
The price is below the 100EMA and you place a sell order below the green candle.
Here is a perfect explanation from a user , who understands this concept:
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Here is an educational chart:
https://www.forexfactory.com/showthr...2883065http://
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The yellow line with Entry/Stop Loss/Take Profit is not an indicator. This is just a Fibonacci tool for MT4. You can modify this tool as needed. See user-friendly explanation.
https://www.forexfactory.com/showthr...3#post12871353
-------------------------------------------------------------------------------
Sorry if this strategy is nothing new here, maybe it can be useful to anyone.
Be consistent and manage your risk properly!
Let me give you a quick rundown of my trading system...simple and profitable....yeah, there's nothing magical about this one
Timeframe H1 , but it also works on higher timeframes!
All you need is a strong trend, and common sense. We only trade in the direction of the trend!
Buy : The price is above the 100EMA and you place a buy stop order above the red candle. Stop loss is placed below the candle. TP is 2R (R:R is about 1:2 or 1:3)
see pictures
The price is below the 100EMA and you place a sell order below the green candle.
Here is a perfect explanation from a user , who understands this concept:
{quote} You want to place a pending order in a long trade at the high of the last retracement candle, and a stop loss (in the case of an uptrend) below the low of the same candle. If a lower candle is formed after this candle, the pending buy order is moved to this new candle with the stop loss. Only the 100EMA supports the uptrend direction. The opposite is true if the trend is down. That is, place a pending order below the high point and set a stop loss above the high point. If 100EMA does not show direction (sideways)
Here is an educational chart:
https://www.forexfactory.com/showthr...2883065http://
-------------------------------------------------------------------------------
The yellow line with Entry/Stop Loss/Take Profit is not an indicator. This is just a Fibonacci tool for MT4. You can modify this tool as needed. See user-friendly explanation.
https://www.forexfactory.com/showthr...3#post12871353
-------------------------------------------------------------------------------
Sorry if this strategy is nothing new here, maybe it can be useful to anyone.
Be consistent and manage your risk properly!
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