Trading indicators – 4 EMA (Brown), 12 EMA (Turquoise), 26 EMA (Violet), 50 EMA (Red) + EMA CHANNEL Yellow (You can use Template file. Download tpl file in the end of this content)
Forex pairs – all
TF (TimeFrame) – H4 or Daily
Broker – Any that offer MetaTrader 4 platform
Price – Free
This trading system must be used with timeframe H4 or Daily. With this template of indicators, you could trade as many currency pairs as you want. It will work with every broker that offer MetaTrader 4 platform for trading. With this strategy, you can find when to long or short, how to make the entries and exits. This trading system use indicators 4 EMA (Brown), 12 EMA (Turquoise), 23 EMA (Violet), 50 EMA (Red) + EMA CHANNEL Yellow. These moving averages calculate of the currency’s closing prices and show you when the market give signals, as you can create simply your setups of the trades. So here is more details about the indicators setup:
– Follow the EMAs 50, 4, 12 and 23-bar of the currency’s closing prices.
– Follow the 50 EMA of the bond closes.
– Follow the 10 EMA of highs and a 10-bar EMA of lows.
MT4 Chart with “4EMA-Channel Trading System”:
So when to make long entry positions or short entry?
To make LONG orders, you must follow the 4 EMA(Brown) to be greater than it was one bar ago, for the 12-bar EMA(Turquoise) to be above 23-bar EMA(Violet), for the 50-bar EMA (Red) and close price above the EMA 10( Yellow) of highs.
To make SHORT orders, you must follow the 4 EMA (Brown) to be less than it was one bar ago, for the 12-bar EMA(Turquoise) to be below the 23-bar EMA (Violet), and for the 50-bar EMA (Red) and close price below the EMA 10 (Yellow) Low.
Stop Loss could be put, when the price touches EMA 50(RED).
Take Profit could be target around 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200pips EUR/USD , 250 pips GBP/USD (recommended).
So here is the picture example how really work bellow 4 EMA and Channel trading system:
This system could work very well for long term trading, you can make a lot of pips. You only need to follow the indicators and the good way to put your stop loss and target. 50 EMA (RED) is huge factor in this system, so it must be useful for everyone. To install the system, you must download the TPL file and to attach the template to your MetaTrader 4 platform.