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Forex trading strategy #10 (Egudu EMA+ADX Strategy)

The following Forex strategy was submitted by Egudu - our valued contributor. Thank you once again and let the market be always on your side!

Hi, this is Egudu, and i have this simple but efficient strategy and i hope you enjoy using it.

Currency: any
Time frame: 1hr
Indicators: 5EMA(close), 6EMA(open), [ADX(14) at 20mark]

Rule: Enter a long position when the 5EMA crosses the 6EMA up and the width difference between them is a pip and the ADX must be over it's 20mark.

Forex trading system

For those conservative traders, you could add 55EMA and 89EMA to know the trend and only enter a position according to the trend,that's enter long when the 55EMA is over the 89EMA and all other parameters are in place as i have stated above.

An update for this system can bee found on: strategy page 4.

Additional Forex systems by Egudu can be found at:
http://forex-strategies-revealed.com/egudu-4-tools-trading
http://forex-strategies-revealed.com/trading-macd-consolidation

Happy Forex trading!


http://forex-strategies-revealed.com/


Dear sir,
Great system,would you tell how to exit with such signals

Best regards,
Ele

Dear Egudu,

the width difference between them is a pip? If it is more than 1 pip, can we still enter?

Best Regards,
Shaun

Hi Ele,
i would say you exit your position when the ADX starts bending and the 5 and 6 moving averages have crossed.
egudu

Shaun,
it's even much better when the pip difference is more than a pip to enter a position.
Egudu.

Dear Egudu,
This system is simple and efficient.I love it. I am thinking of writing an EA for it.

Rotimi

Dear Egudu,
I added the following and i made over 200pips in a day

1. enter long only if MACD is above zero
2. enter short only if MACD is below zero

I also added this to ADX
1. D+ must be above D- for long
2. D- must be above D+ for short

Rotimi

Rotimi,
thanks, that would be nice,let me know if i could help you in any way, my email is
willks2k3 at yahoo.com

Egudu.

Hi Rotimi,
it's good to know that the strategy has been of help to you, and the modification that's cool, but i would also say you keep it that simple,ok. thanks,

Egudu.

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