Moving Average with Fractal Forex Trend Following Indicator
This trend following system uses basic indicators and requires a break of fractal to determine a trend. This can be use in a 5 minute timeframe and above and applicable in any currency pairs.
For intraday trading: Start Trading 9:00 GMT Stop Trading 22:00 GMT
Forex Indicators:
- SMA 3 High (simple moving average);
- SMA3 Low simple moving average);
- JMA Starlight 100 or (100EMA);
- MACD with EMA (10,20,1,7)
For Long Entry:
- Up Fractal taken out (Broken)
- Buy when Price touches 3 SMA Low
- Exit when price touches 3 SMA High
For Short Entry:
- Down Fractal Taken out (Broken)
- Sell when Price touches 3 SMA High (Sell Limit at 3 SMA High)
- Exit When Price Touches 3 SMA Low (Buy Limit at 3 SMA Low)
Filter
100 JMA and MACD with EMA.
- Make sure to go long only when prices are above 100 JMA Starlight land MACD is greater than EMA.
- Make sure to go short when prices are below 100 JMA starlight and MACD is less than EMA.
Take note of the stop losses:
- TF 5 min:5 pips above or below SMA;
- TF 15 min: 10 pips above or below SMA;
- TF 30 min: 12 pips above or below SMA;
- TF 60 min: 15 pips above or below SMA;
- TF 240 min 20-25 pips above or below SMA;
- TF 1440 min 30-40 pips above or below SMA.
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