655# EG Entry Pro
EG Entry Pro alias Dot MMS indicator mq4. How to filter.
Submit by Joy 22
EG Entry Pro is an MT4 indicator based on RSI oscillator. In this article a show a way to filter this indicator for trading in forex and binary options high/low,
The idea of the system is to filter the EG Entry Pro indicator with the Channel Fibo channel, that is, when the price is outside the bands of the Channel Fibo indicator you start following the signals. If the price is below the lower bands, only the purchase signals will be followed.
If the price is above the bands, only the sales signals will be followed.
This is a reversal strategy.
Time frame 1 min or higher.
Currency pairs: for low time frame 1 min , 5 min and 15 min trades with (EUR/USD, USD/JPY, EUR/JPY, EUR/AUD, NZD/USD, GBP/USD, EUR/GBP, GBP/JPY, Gold, S&P 500, Nasdaq 100, Dax).
Metarader 4 indicators setting:
Channel Fibo MTF indicator, time framame >1 (78, levels Fibonacci 23,38, 50, 68).
EG Entry Pro
Trading rules EG Entry Pro
The indicators do not repaint.
Trading rules Channel Fibo reversal strategy
Buy
When the price is off the lower bands of the Channel Fibo MTF indicator. Trades only buy. Wait a reversal long signal of EG entry Pro.
Sell
When the price is off the upper bands of the Channel Fibo MTF indicator. Trades only bsell. Wait a reversal short signal of EG entry Pro.
Exit position
The stop loss and profit target depends by pairs ad time frame.
example EUR / USD 15 pips stop 15 pips profit target.
The stop loss / profit target ratio is recommended 1: 1.
Profit levels can be the levels of the fibonacci bands.
Martingale can be applied with variable multiplier from 1.1 to max 2.0 can be applied as money management.
