Chart TF: 4H Indicators: 14 EMA, 40 EMA, Vortex Indicator 30, RSI 22, TRIX 10
I have been tweaking this simple, yet profitable, system for a few weeks and wanted to share it with the public to receive feedback/opinions. This post will go over the long entry conditions, look at my profile for the short conditions (they are simply flipped).
Long Conditions: 1) 14 EMA > 40 EMA. 2) A bullish candle must break above a resistance level. 3) The price must be above both EMAs. 4) VI(+) > VI(-) by at least .15 5) RSI > 50 6) TRIX > 0 If all conditions are met, enter long.
Stop Loss: 1) Set SL to the closest support. Take Profit: 1) Set TP 1:1 R/R with the stop loss.
In this recent 21 day stretch, 02/26/20 - 03/18/20, this strategy gave 6 successful long entries and over 500 pips on EURGBP.
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