Forex Distance Trend Trading Strategy
Forex Distance Trending Strategy - is a simple trading system based on two envelopes with additional filters.
Input parameters
- Currency pairs: any.
- Timeframe: M15 and higher.
- Bidding time: London, New York.
- Risk Management: After calculating the stop loss, choose this lot sizeto risk no more than 2-5% of the deposit per trade.
Used indicators
- Heiken Ashi
- Line Ask Bid
- Spread Time
- Forex Distance (half length 35, 0, 0, deviation 0.35)
- Forex Distance (half length 35, 0, 0, deviation 0.15)
- Forex Trade (period 9, factor 1 0.33, factor 2 0.66)
Setting up the price chart
- Unpack the archive.
- Copy the template into the templates folder.
- Copy the indicators to the folder MQL4 -> indicators.
- Restart the terminal.
- Open the chart of the desired currency pair.
- Set the template with the name Forex Distance.
The schedule should look like this:
Signals indicating the opening of a long position (buying)
- The price broke through the lower boundary of both envelopes.
- The green line of the Forex Trade indicator is above the blue line.
- Optional prerequisite: candle indicator Heiken Ashi blue.
Signals indicating the opening of a short position (sale)
- The price broke the upper boundary of both envelopes.
- The green line of the Forex Trade indicator is below the blue line.
- Optional prerequisite: candle indicator Heiken Ashi yellow.
Setting Take Profit and Stop Loss Orders
- Given the trending nature of the Forex Distance strategy, stop loss is set above/below the previous local maximum/minimum.
- When setting an order Take Profit it is recommended to set goals according to the current trend or in the ratio sl/tp as 1 to 2.
Before using Forex Distance trend strategy If you have a real deposit, be sure to test it on a demo account.
Download Forex Distance Strategy Template and Indicators
Can you tell me how to make the same channel from ma? What settings do I need?