Fxt777 EMA Distance System - MT4/MT5 resources
Hello, dear FF members and guests,
I've created a system that I haven't fully tested yet but looks good so far and I'll be releasing this system for free.
I thought you would be interested because this is a new EMA method. I'm sure you haven't heard of a similar trading system.
Don't be confused, this is not a GTS system
OK, here's the explanation:
We use 5, 10 and 18 EMA
We use the BB Squeeze indicator (which indicates when the Bollinger Bands come out of the Ketler Channel)
We use the 4 hour chart I think it works well for EUR GBP and USD JPY
1. When we receive the signal that the Bollinger Bands are coming out of the Ketler Channel, a blue dot will appear on the BB Squeeze indicator. This is the first signal.
2. But we wait for the EMA to confirm the trend. Therefore, when the distance between these 3 EMAs is equal, this is confirmation of the trend.
3. Once we see that these EMAs are equidistant (yellow lines will appear to show this), we wait for the price to reach the 10 EMA and then retrace and close on the bearish/bullish bars. It is important that the closing price should not be 10 pips above the 10 EMA (20 pips USDJPY).
I'm still thinking about exit points, maybe you have a better idea?
My idea is that I should exit when the BB squeeze line stops rising.
That's it, you can ask any questions and I'll answer them when you log in for the second time.
Please also see the attached picture
Thanks
I've created a system that I haven't fully tested yet but looks good so far and I'll be releasing this system for free.
I thought you would be interested because this is a new EMA method. I'm sure you haven't heard of a similar trading system.
Don't be confused, this is not a GTS system
OK, here's the explanation:
We use 5, 10 and 18 EMA
We use the BB Squeeze indicator (which indicates when the Bollinger Bands come out of the Ketler Channel)
We use the 4 hour chart I think it works well for EUR GBP and USD JPY
1. When we receive the signal that the Bollinger Bands are coming out of the Ketler Channel, a blue dot will appear on the BB Squeeze indicator. This is the first signal.
2. But we wait for the EMA to confirm the trend. Therefore, when the distance between these 3 EMAs is equal, this is confirmation of the trend.
3. Once we see that these EMAs are equidistant (yellow lines will appear to show this), we wait for the price to reach the 10 EMA and then retrace and close on the bearish/bullish bars. It is important that the closing price should not be 10 pips above the 10 EMA (20 pips USDJPY).
I'm still thinking about exit points, maybe you have a better idea?
My idea is that I should exit when the BB squeeze line stops rising.
That's it, you can ask any questions and I'll answer them when you log in for the second time.
Please also see the attached picture
Thanks
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