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EWB Forex Trend Following Strategy
This system uses at least 2 timeframes. The suggested compatible timeframes are 5M & 30M or 15M & 30M. They must agree or be close to each other to enter a trade. This works in all currency pairs.
Forex Indicators:
- EMA 55 as trend indicator
- TFX reversal, default
Long Trade:
- Both short and long time frames must agree with trend and channel break
- Candle must close above 5SMMA.
- RSI above signal line must cross above 50 level in TDI Indicator.
- TFX Reversal signal close to entry time on higher time frame
- If the above is met but price is below 55EMA, if entry is taken, use only ½ as much money
Short Trade:
- Both short and long time frames must agree with trend and channel break
- Candle must close below 5SMMA
- RSI above signal line must cross below 50 level in TDI Indicator
- TFX Reversal signal close to entry time on higher time frame
- If the above is met but price is above 55EMA, if entry is taken, use only ½ as much money
Traders get into the market and move heavily when the price moves out of the channel. Institutions and bank traders will use channels to make decisions and it is similar to the channels use in this strategy that is why these channels work. This works best on GU pair.
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