1 hour 10 EMA Easy System (1 hour 10 EMA Easy System) - MT4/MT5 resources
Hello everyone,
After losing most of my money while trading and using many indicators and EAs, I finally understood all the Forex indicators. I'm launching a new system based on the 1 hour chart.
The main secret of this system is the 10 EMA line.
In this system, I use some powerful indicators to filter trades and make profitable entries.
These indicators are:
1- Gold MACD, provides you with real trends, allowing you to avoid range markets.
2- RSI, with special settings, gives you the strength of the trend.
3- Flat Trend, shows you the overall trend to show the trend for the higher timeframe that has been set to 4 hours.
4- (10, 50, 200 EMA): 10 EMA is the basis for entry.
Trading rules:
- Entries:
Once PA crosses the 10 EMA and closes and it is above the 50 and 200 EMA, I will go long.
Once PA crosses the 10 EMA and closes, and is already below the 50 and 200 EMA, I will go short.
Note that on both entries above the 1 hour bar above, the closing price must be very close to the 10 EMA, maybe 4-5 pips further away at most.
If the price has closed so far or is a long bar, you can wait for the price to retrace and hit the 10 EMA again on the close of the bar.
A- Gold MACD must be higher than the upper level to be long, and lower than the lower level to be short.
The B-RSI should break above the 60 level for longs and the 40 level for shorts.
C- A flat trend must be green for longs and red for shorts.
The above conditions (A, B, C) must be met before entering the transaction.
Exit rules:
Take profits at the strongest support or resistance, or wait for the RSI to break back below the 50 level.
Stop loss: maximum 15-20 points, or wait for RSI to fall back through the 50 level.
For me, I prefer to exit when the RSI returns to the 50 level or the price approaches the other side of the 10 EMA.
Usually, if the market goes against me and the price is close to the other side of the 10 EMA, the losses will be very small (10-15 pips)
But if the market moves in my favor, then I can make a handsome profit.
For advanced traders: If you are in profit and are still far from entering, you can add a trade when the price retraces and hits the 10 EMA again, and make sure all entry conditions are met before adding.
I have attached the indicator and template.
There are 2 templates: 1 for most currency pairs and major pairs (called 1 hour temporary pairs) and another for pairs that are opposite to the Japanese yen, such as USDJPY or EURJPY or others (called 1 hour temporary Japanese yen)
I hope all my system settings are clear and I would be happy to receive any comments.
Good luck to everyone with their toys.
After losing most of my money while trading and using many indicators and EAs, I finally understood all the Forex indicators. I'm launching a new system based on the 1 hour chart.
The main secret of this system is the 10 EMA line.
In this system, I use some powerful indicators to filter trades and make profitable entries.
These indicators are:
1- Gold MACD, provides you with real trends, allowing you to avoid range markets.
2- RSI, with special settings, gives you the strength of the trend.
3- Flat Trend, shows you the overall trend to show the trend for the higher timeframe that has been set to 4 hours.
4- (10, 50, 200 EMA): 10 EMA is the basis for entry.
Trading rules:
- Entries:
Once PA crosses the 10 EMA and closes and it is above the 50 and 200 EMA, I will go long.
Once PA crosses the 10 EMA and closes, and is already below the 50 and 200 EMA, I will go short.
Note that on both entries above the 1 hour bar above, the closing price must be very close to the 10 EMA, maybe 4-5 pips further away at most.
If the price has closed so far or is a long bar, you can wait for the price to retrace and hit the 10 EMA again on the close of the bar.
A- Gold MACD must be higher than the upper level to be long, and lower than the lower level to be short.
The B-RSI should break above the 60 level for longs and the 40 level for shorts.
C- A flat trend must be green for longs and red for shorts.
The above conditions (A, B, C) must be met before entering the transaction.
Exit rules:
Take profits at the strongest support or resistance, or wait for the RSI to break back below the 50 level.
Stop loss: maximum 15-20 points, or wait for RSI to fall back through the 50 level.
For me, I prefer to exit when the RSI returns to the 50 level or the price approaches the other side of the 10 EMA.
Usually, if the market goes against me and the price is close to the other side of the 10 EMA, the losses will be very small (10-15 pips)
But if the market moves in my favor, then I can make a handsome profit.
For advanced traders: If you are in profit and are still far from entering, you can add a trade when the price retraces and hits the 10 EMA again, and make sure all entry conditions are met before adding.
I have attached the indicator and template.
There are 2 templates: 1 for most currency pairs and major pairs (called 1 hour temporary pairs) and another for pairs that are opposite to the Japanese yen, such as USDJPY or EURJPY or others (called 1 hour temporary Japanese yen)
I hope all my system settings are clear and I would be happy to receive any comments.
Good luck to everyone with their toys.
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