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Forex ADX Power
- Timeframe: I use it on 4 hours, feel free to use it on smaller timeframes as well
- Currency Pair: Any
- Indicators: EMA9 and EMA26 and DMI (Directional Movement Indicator with ADX)
- DMI Settings: Draw a horizental line at 25 to watch for the crossovers of DI+ or DI-
- ADX Settings: Ignore signals where ADX is lower 20
GO LONG WHEN:
- EMA9 has crossed over EMA26
- DI+ >= 25
- ADX >= 20
- ADX is in between DI+ and DI-
EXIT LONG WHEN:
- EMA26 has crossed EMA9 AND
- DI- is higher than DI+
GO SHORT WHEN:
- EMA26 has crossed EMA9
- DI- >= 25
- ADX >= 20
- ADX is in between DI- and DI+
EXIT SHORT WHEN:
- EMA9 has crossed EMA26 AND
- DI+ is higher than DI-
WHAT TO IGNORE:
- While in Long Position: DI+ and DI- Cross-overs while the EMA9 is still on top of EMA26
- While in Short Position: DI+ and DI- Cross-overs while the EMA26 is still on top of EMA9
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While searching for Trading Opportunities: The EMAs has crossed over
but the DI+ or DI- (depending on whether you're looking for Long or
Short positions) are still under 25. Also, wait till the ADX has
reached 20 before entering into Trade
- Price breaking the Lower EMA (EMA26 in case of Long Positions) line while the EMA9 is still on top of EMA26
----- SBJ ---- by; N.Ghangro ----
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| Category: Trading Strategy | Added by: forex-market (2009-09-29)
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| Views: 487
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