Simple 7 Strategy | Foreign Exchange EA Download- MT4/MT5 Resources
Tom's Simple 7 Strategies
Chart preparation:
Set the 7-day closing price EMA.
Install 50 Close Price EMA
Basic instructions:
If the 7 EMA is below the 50 EMA, only shorting opportunities are available for maximum risk/reward.
If the 7EMA is above the 50EMA, only take long opportunities for maximum risk/reward.
Specific instructions:
If the closing candle is above the 7 EMA, trade long.
If the closing candle is below the 7EMA, go short.
warn:
These instructions expect you to have basic trading experience and are not intended to teach or train you in derivatives or foreign exchange trading. www.forexfactory.com and www.babypips.com are excellent websites with basic trading education resources.
Having said that, you can use this method on any time frame, but since we distinguish between positions above and below the 7 EMA, this means that you must constantly monitor your trades after entering them.
Notice:
This method is simple so that people can use it as I basically laid out it, but also allows you to adapt it to suit your needs and leave room for new ideas based on it.
(Intellectual property of Tom, akatom2u) At least give me the credits.
Chart preparation:
Set the 7-day closing price EMA.
Install 50 Close Price EMA
Basic instructions:
If the 7 EMA is below the 50 EMA, only shorting opportunities are available for maximum risk/reward.
If the 7EMA is above the 50EMA, only take long opportunities for maximum risk/reward.
Specific instructions:
If the closing candle is above the 7 EMA, trade long.
If the closing candle is below the 7EMA, go short.
warn:
These instructions expect you to have basic trading experience and are not intended to teach or train you in derivatives or foreign exchange trading. www.forexfactory.com and www.babypips.com are excellent websites with basic trading education resources.
Having said that, you can use this method on any time frame, but since we distinguish between positions above and below the 7 EMA, this means that you must constantly monitor your trades after entering them.
Notice:
This method is simple so that people can use it as I basically laid out it, but also allows you to adapt it to suit your needs and leave room for new ideas based on it.
(Intellectual property of Tom, akatom2u) At least give me the credits.
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