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Forex Trend Surfing Ribbon
Rules:
Markets trend only 25-30% of the time. This indicator is for use when the market is trending.
Add ATR 14 indicator to this as well
Prep:
On the Daily, 4 Hour and 1 Hour charts, look for a nicely fanned out EMAs, with no cross overs and all fanning in the same direction on every TF
Rules for long entry (on 1 hour chart):
Wait for pullback to the 21 EMA (the black line in the middle)
The entry is valid as long as there is not a close outside of the 60EMA (the outer black line). Price can wick below and the setup still be valid, however the candle cannot close below.
When you get a retest of the 21, place a buy stop above the recent swing high + 14 ATR
Place your stop below 60 EMA - 14 ATR
Pullback MUST touch the 21 EMA
Once you get an entry, move your stop to the new 60 EMA + 14 ATR
Exit Signals:
TP1 1:1 sell 50% of your position and move your stop to break even
TP2 2:1 sell another 50% of your position and set a trailing stop below the 21 EMA
Stay in the remainder of the trade until stop gets hit
Markets trend only 25-30% of the time. This indicator is for use when the market is trending.
Add ATR 14 indicator to this as well
Prep:
On the Daily, 4 Hour and 1 Hour charts, look for a nicely fanned out EMAs, with no cross overs and all fanning in the same direction on every TF
Rules for long entry (on 1 hour chart):
Wait for pullback to the 21 EMA (the black line in the middle)
The entry is valid as long as there is not a close outside of the 60EMA (the outer black line). Price can wick below and the setup still be valid, however the candle cannot close below.
When you get a retest of the 21, place a buy stop above the recent swing high + 14 ATR
Place your stop below 60 EMA - 14 ATR
Pullback MUST touch the 21 EMA
Once you get an entry, move your stop to the new 60 EMA + 14 ATR
Exit Signals:
TP1 1:1 sell 50% of your position and move your stop to break even
TP2 2:1 sell another 50% of your position and set a trailing stop below the 21 EMA
Stay in the remainder of the trade until stop gets hit
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya secara bebas dan tanpa apa-apa had – ketahui lebih di sini.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.