145# Three exponential moving averages with MACD forex trading system

EMA's Crosses with MACD indicator

 

Submit by Buddy 04/08/2013

 

Forex Indicators

Exponential Moving Average 5-period (EMA5, Black color in the

illustrations).

Exponential Moving Average 15-period (EMA15, Blue color in the

illustrations).

Exponential Moving Average 60-period (EMA60, Green color in the

illustrations).

MACD (12,26,9).

 

These are standard, common indicators and are included in every charting

program. You can use any charting software program you like: E-signal,

MetaStock, TradeStation, MetaTrader….

This system is used for 1-hour timeframe. You can also use it for 4-hour and

daily timeframes. But in that case, you have to tweak the stop loss, profit

target, trailing stop appropriately.

1.2. Rules for Buy Signals (Long Trades):

We must first establish that we’re in a strong uptrend using these 3

rules:

1. EMA60 and EMA15 are both pointing up.

2. EMA5 is above EMA15.

4. MACD indicator >0

 

When we have these three conditions, we know that we’re in an uptrend.

We then wait for the price to fall back, and touch the EMA60. When that

happens, we enter with two lots.

- Stop Loss: We place a protective stop loss at -40 pips (4H Time Frame, 60 min Time Frame 30 pips, Daily Time Frame 60 pips).

 

- Profit Targets: When we have 40 pips in profit we exit one lot.

Move stop loss to break even for the second lot. We then use a trailing

stop of 40 pips for that lot. That means, when we’re 80 pips in profit,

we move stop loss to 40 pips ( or close 2° lot in profit) And so on…

We can also move stop loss to the recent high each time price break that

high. That way, we can follow the trend until the end.

 

Rules for Sell Signals (Short Trades):

We must first establish that we’re in a strong downtrend using these 3

rules:

1. EMA60 and EMA15 are both pointing down.

2. EMA5 is below EMA15.

3. EMA15 is below EMA60.

3 MACD indicator<0.

When we have these three conditions, we know that we’re in a downtrend.

We then wait for the price to retrace, and touch the EMA60. When that

happens, we enter with two lots.

- Stop Loss: We place a protective stop loss at -40 pips (4H Time Frame, 60 min Time Frame 30 pips, Daily Time Frame 60 pips).

- Profit Targets: When we have 40 pips in profit we exit one lot.

Move stop loss to break even for the second lot. We then use a trailing

stop of 40 pips for that lot. That means, when we’re 80 pips in profit,

we move stop loss to 40 pips ( or close 2° lot in profit). And so on…

We can also move stop loss to the recent low each time price break that low.

That way, we can follow the trend until the end.

 

In the pictures belowThree exponential moving averages with MACDin action.

Three exponential moving averages with MACD: Template

Three exponential moving averages with MACD
Three exponential moving averages with MACD: Template.
three exponential moving averages with m
compressed file archive 600 Bytes
Three exponential moving averages with MACD
Three exponential moving averages with MACD
Three exponential moving averages with MACD
Three exponential moving averages with MACD

 

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