Forex trading strategy #21 (Egudu EMA+ADX Strategy)
Submitted by Edward Revy on December 18, 2007 - 15:06.
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]
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How do you set 5EMA(close) and 6EMA(open) on Oanda FXTRADE? I don't see an option to change it from open to close. If it's not possible, would a 5EMA and 7EMA setting work as a substitute?
thanks,
Chris
This option is available for MT4 traders. For Oanda users 5 and 7 EMA would probably be the closes values here.
Regards,
Edward
dear egudu,
thanks for the system. but how do i know the 1 pip difference between the 5ema and 6 ema.
akinkunmi
akinkunmi,
Try looking at the top left corner of your charting software, it should state current values of each indicator, including of course EMAs.
olayiwola,
thanks for the system. but how do i know
understand what you mean by ADX14 at 20marks
Thanks
Hi,
I've added a screenshot above.
While ADX line is above 20 level we consider entries; if it is below 20, we stay out.
Regards,
Edward
Hi Edward,
Nice website!!! I've been using for a while and I've find out a lot
of useful things on it and many answers.
could You please tell me how to set up or download EMAs on MT4 cos
cannot see any on it.
Many Thanks.
sorry for my english I am not a native speaker
Hi,
On MT4 you should go to the menu at the top of the screen, click "Insert" -> "Indicators" -> "Trend" -> Moving average.
If you don't have or see one, then you can always upload your own indicator to the trading platform.
To do so:
1. Close the platform.
2. Go to the folder where you installed MT4.
3. Find the folder "experts". Inside it folder "indicators". Copy your indicator there.
4. Now open a trading platform.
5. Go to "Insert" -> "Indicators" -> "Custom" -> and find your new indicator there.
Download Moving Averages.zip
Regards,
Edward
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