624# ATR Stops with Magic FX

Submit By Maximo Trader

ATR Stops with Magic Fx is a trend following strategy based on two indicators: ATR Stops and Magic Fx. The purpose of this strategy is to find on good filter for Magic FX that I belive on good indicator for entry in the market. The solution to this question was to use the atr stops and reverse for its main feature to follow the trend of the market price well.

Time Frame 5 min or higher with different setting.

Currency pairs majors.

Trading sessions for 5 min time frame 9:00 GMT – 20:00 GMT.

Metatrader Indicators

ATR Stops and Reverse

setting 5 min time frame

Time frame 15 min – Triple Exponential moving average - ATR period 10.

setting 15 min

Time frame 30-60 min – Triple Exponential moving average - ATR period 10.

setting 60 min-240 min.

Time frame 60 min – Triple Exponential moving average - ATR period 10.

Best time frame 60 min.

Magic Fx default

Pivot points levels indicator.

Market hours for 5 min time frame only London session.

Trading rules ATR Stops with Magic Fx

Buy

ATR Stops green line

Magic FX blue line.

Exit position at opposite signal or at the pivot level.

For 5 min time frame recommended profit target predetermined

Stop loss 2 pips below line ATR Stops.

Optional entry: signal Buy blue line but ATR red. entry when appears the green dot of the ATR..

Sell

ATR Stops red line

Magic FX red line.

For 5 min time frame recommended profit target predetermined

Stop loss 2 pips above line ATR Stops.

Optional entry: signal Sell red line but ATR green line . entry when appears the red dot of the ATR.

Note: at 5 min time frame you can use only ATR Stops with 15 min setting.

In the pictures ATR Stops with Magic Fx in action.

Share your opinion, can help everyone to understand the forex strategy.