Champion Forex Trend Following Strategy

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Champion Forex Trend Following Strategy

This is a trend following system that also uses EMAs as indicators.

Forex Indicators and setups:

  • EMA (exponential moving average) : 5(White), 10, 20, 50
  • RSI: 14
  • Stochastics 5, 3, 3
  • Zig Zag: 12, 5, 3

Instructions:

Go to the previous daily candle and Draw 3 horizontal lines:

  • High
  • Low
  • Mid

The market could be in a downtrend If the current price action is below the 50% M (Mid-Range) of the previous candle.
The market could be in an uptrend if the current price action is over the 50% M (Mid Range) of the previous days candle.

STOP LOSSES:

  • For Intra Day, set SL to 35 to 50 Pips
  • For swing, set the SL previous daily candles` High/Low

For Long Entry:

  • A Green arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
  • A Whole candle closes above the 5 EMA (exponential moving average) (White) /Entry Confirmation/

Exit position when:

  • A Red arrow signaling an EMA (exponential moving average) cross /Exit Recommendation/
  • A Whole candle closes below 20 EMA (exponential moving average) (Green) /Exit Confirmation/

For Short Entry:

  • A Red arrow signaling an EMA (exponential moving average) cross /Entry Recommendation/
  • A Whole candle closes below 5 EMA (exponential moving average) (White) /Entry Confirmation/

Exit position when:

  • A Green arrow signaling an EMA (exponential moving average) cross. Exit Recommendation
  • A Whole candle closes above 20 EMA (exponential moving average) (Green). Exit Confirmation

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