148# EMA's Bands with RSI filter

Trendfollowing forex system with RSI filter indicator

 

Submit by FXTrader 13/09/2013

 

 

 

This is a trend following trading system based on a set of exponential moving averages filtered byfilter RSI indicator and MACD indicator with EMA.

 

This setting is for those who use a metatrader 4 platform as it has these indicators. For traders who did not have these available indicatiors I have a setting with standard indicators: exponential moving averages, MACD and RSI (default).

 

Time Frame 15 min or higher.

Currency pair : any,

 

Metatrader indicators:

Set of Ema's from fast 5 period exponential moving average color Dark Blu to at slow 21 period exponential moving average color dark blue);

RSI filter (7 period);

MACD with EMA periods (10, 20,3, 7,).

 

Standard Platform for trading forex indicators:

Set of Ema's from fast 5 period exponential moving average color Dark Blu to at slow 21 period exponential moving average color aqua);

RSI (9 period);

MACD periods (5, 26,1,).

 

Rules for EMA's Bands with RSI filter

 

Buy conditions:

5 EMA Fast above 21 EMA slow;

RSI filter red bars;

MACD with EMA >0.

 

Sell conditions:

5 EMA Fast above 21 EMA slow;

RSI filter red bars;

MACD with EMA >0.

 

Rules for EMA's Bands with RSI filter with standar trading platform

 

Buy Conditions:

 

  • MACD should be above the 00 line;

  • RSI must be below 70 line or above 30 line;

  • Candle must be close above EMA area;

  • Red or blue EMA must be clear in the chart. ( not covered by other ema).

 

Sell Conditions:

  • MACD should be below 00 line

  • RSI must be above 30 or below 70 line

  • Candle must close below the EMA area

    Red or Blue EMA must be clear in the chart.( not covered by other EMA)

 

Exit position options

For buy when 5 EMA fast is below 21 Ema slow.

For Sell when 5 EMA Fast is above 21 Ema slow.

Initital Stop loss on the previous swing after n-pips in gain (n-pips= the nubers of the pips from entry point at the stop loss) move stop loss at the entry poiont or more.

Others optios for make profit:

Profit Target, ratio 1.5 stop loss or you can close trade when candle close inside the ema area.

EMA's Bands with RSI filter
EMA's Bands with RSI filter

EMA's Bands with RSI filter: Templates and indicators

EMA's Bands with RSI filter
EMA's Bands with RSI filter: Templates and indicators
EMA's Bands with RSI filter.rar
compressed file archive 10.7 KB

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Comments: 1
  • #1

    hovedguy (Sunday, 13 December 2015 12:25)

    Powerful strategy, the only hitch is that it requires lot of patience. Best entry is when the price pulls back at 38,2% fibo and target its -100% level.