32# 4 EMA and Channel Trading System

Time Frame: 4H or daily.

Pairs: all.

In this system, we defined long and short entries and exits. We also did some setup work to calculate the moving averages and the entry points. The setups, entries, and exits are defined next.

Setup

a) Calculate the 4-, 12-, and 23-bar exponential moving averages (EMAs) of the currency’s closing prices.

b) Calculate a 50-bar EMA of the bond closes.

C) Calculate a 10-bar EMA of highs and a 10-bar EMA of lows.

Long Entry Position:

Check for the 4-bar EMA to be greater than it was one bar ago, for the 12-bar EMA to be above 23-bar EMA, for the 50-bar EMA and close price above the EMA 10 of highs .

Short Entry Position:

Check for the 4-bar EMA to be less than it was one bar ago, for the 12-bar EMA to be below

the 23-bar EMA, and for the 50-bar EMA and close price below the EMA 10 Low.

 

Exit Position

a) After we enter a position, we’ll set a money management stop and a trailing stop;

b) We’ll also exit our long position when the 12-bar EMA crosses below the 23-bar EMA; we’ll exit our short position when the 12-bar EMA crosses above the 23-bar EMA.


Stop Loss: When the price touches EMA 50.

Take Profit: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended).


 

In the pictures below 4 EMA and Channel Trading System in action.

trading System:template mt4 4ema and channel.
template mt4 4ema and channel.rar
compressed file archive 943 Bytes

 

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