EMA Predictive
There are types of moving averages (MA), and one of these is the Exponential moving average (EMA). They said that this moving average reacts faster to recent price changes than the simple moving average. Many traders uses this kind of moving average. To use this kind of indicator, you must have 3 EMAs and set each of their inputs to:
• Long period 25, short period 8
• Long period 50, short period 15
• Long period 100, short period 100
There are rules that needs to be done to use this indicator in an effective manner. Here are the rules:
• For LONG entry:
– EMA 25 must be above EMA 50 and EMA 100.
• For SHORT entry:
– EMA 25 must be below EMA 50 and EMA 100.
You can set your TARGET PROFIT to 5-10 pips, and set your STOP LOSS to 9-12 pips.
Note: Use line chart in a 1 minute timeframe. Currency pairs to be used is major pairs. The best time to trade with this indicator is London session which will start at 3:00 am EST and US session which will start at 8:00 am EST.
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