Trend Strength Indicator + 3EMA (Trend Strength Indicator + 3EMA)
Hello,
This system uses the trend strength indicator on the daily chart as a filter for the trend strength indicator on entry H4. If you have the patience to wait for the right setup and use correct money management, you will profit from this.
Settings <br> Chart:
1. Trend strength indicator. (orange color)
2. The indicator is accompanied by 3EMA. (red)
Entries <br> On the daily chart, determine how the trend strength indicator shows the trend. Turn to the H4 chart and wait for the trend strength indicator to move above or below the 0 line, opposite the last cross on the daily chart. Enter when the trend strength indicator crosses the 3 EMA in line with the daily chart.
Important <br> If the exit target is not at least 2:1, do not place the trade.
Stop Loss <br> If going short: Place your stop at the recent swing high.
If going long: Place your stop loss at the recent swing low.
Exit <br> Place your take profit at the next support or resistance point on the H4 chart.
Daily Chart <br> The red line shows a crossover, indicating a downward trend. After the vertical red line, we only have a brief entry on H4.
http://img187.imageshack.us/img187/1102/daily.gif
Click to enlarge
H4 Chart <br> The gold line shows our short entry. (Red line on daily chart)
http://img96.imageshack.us/img96/8949/68920538.gif
Click to enlarge
Conclusion <br> The real key to this strategy or any strategy is to use proper money management. This system will win more than you lose and will give you profits, but only if you use sound money management techniques.
I'll try to post some of the entries generated by this system in the next few days or so. If you have any questions please let me know. Indicators and templates are attached below.
Good luck,
CG giant
This system uses the trend strength indicator on the daily chart as a filter for the trend strength indicator on entry H4. If you have the patience to wait for the right setup and use correct money management, you will profit from this.
Settings <br> Chart:
1. Trend strength indicator. (orange color)
2. The indicator is accompanied by 3EMA. (red)
Entries <br> On the daily chart, determine how the trend strength indicator shows the trend. Turn to the H4 chart and wait for the trend strength indicator to move above or below the 0 line, opposite the last cross on the daily chart. Enter when the trend strength indicator crosses the 3 EMA in line with the daily chart.
Important <br> If the exit target is not at least 2:1, do not place the trade.
Stop Loss <br> If going short: Place your stop at the recent swing high.
If going long: Place your stop loss at the recent swing low.
Exit <br> Place your take profit at the next support or resistance point on the H4 chart.
Daily Chart <br> The red line shows a crossover, indicating a downward trend. After the vertical red line, we only have a brief entry on H4.
http://img187.imageshack.us/img187/1102/daily.gif
Click to enlarge
H4 Chart <br> The gold line shows our short entry. (Red line on daily chart)
http://img96.imageshack.us/img96/8949/68920538.gif
Click to enlarge
Conclusion <br> The real key to this strategy or any strategy is to use proper money management. This system will win more than you lose and will give you profits, but only if you use sound money management techniques.
I'll try to post some of the entries generated by this system in the next few days or so. If you have any questions please let me know. Indicators and templates are attached below.
Good luck,
CG giant
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