Hi it is nice to see you in my blog. Today I will review one of my favorite forex trading system. As we already know that foreign exchange trading strategy shows a good method and simple combination of forex technical indicators. Understanding which trading signal to take for with every forex tool, give a good advice for open a trading position and to close the trading position.
In this trading system you can use any time frame you want and any currency pair. OK let's start, you can use 5 exponential moving average indicator, 10 exponential moving average indicator, stochastic oscillator indicator (set it at 14,3,3), and Relative strength index indicator 14, 70, 30.
Open a buy trading position when the 5 exponential moving average EMA and stochastic indicator are moving above and stochastic indicator is not in overbought area, as a filter Relative strength index is above level 50.
Open a sell trading position when the 5 exponential moving average EMA and stochastic indicator are moving below and stochastic indicator is not in oversold area, as a filter Relative strength index RSI indicator is below level 50.
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