Job finished
Execution time 2 days
Feedback from customer
Helpful. Great communication.
Feedback from employee
Thank you very much!
Specification
Outlined below is a trading strategy designed for short-term, intraday trading in the forex market. This trading strategy uses EMAs because it is designed to respond quickly to price changes.
• Plot three exponential moving averages – a five-period EMA, a 10-period EMA and 50-period EMA – on a 15-minute chart.
• Buy when price and the five-period EMA both cross from below to above the 50-period EMA, and the five-period EMA is above the 10-period EMA. (For a sell trade, sell when price and the five-period EMA cross from above to below the 50-period EMA.)
• Only take trade signals in the same direction as the trend shown by the 10-period EMA on the hourly chart. As long as the price is above the 10-period EMA on the hourly chart, then only buy trade signals are taken. If the price is below the 10-period EMA, only sell trades are entered.
• Place the initial stop-loss order below the 10-period EMA (for a buy trade), but no more than 10 to 12 pips from the entry price. Move the stop to break even when the trade is 10 pips profitable.
• The initial profit target is 20 pips, or the next identified support/resistance level. Since this is a short-term trading strategy, move the stop-loss aggressively as the profit showing in the trade increases.
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Published: 10 codes
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Project information
Budget
30+ USD
Deadline
from 1 to 3 day(s)