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On Trend Following Forex Strategy 1
On trend trading system is another trend following strategy that works on 4 hour to daily timeframe and advisable on all currency pairs.
Forex Indicators:
- 4 EMA
- 10 EMA.
- ADX (28)With +DI AND -DI.
- MACD (5,10,4)
For Long position:
- +DI is above -DI .
- EMA 4 must cross EMA 10 from downside to upside.
- MACD is greater than 0.
For short position:
- -DI is above +DI .
- EMA 4 must cross EMA 10 from upside to downside.
- MACD is less than 0.
You can take profit at 60 pips for EURUSD, 70 pips for GBPUSD and 40 pips for USDCHF in a 4 hour timeframe. Take 200 pips for EU, 250 for GU and 150 pips for USDCHF in a daily timeframe.
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