Trend Following trading system for GBPUSD
This is a trading system with a lot of different indicators. We need two graphics for analysis and few minutes to open order.
Settings
- Pairs: GBPUSD, EURJPY, EURUSD, AUDUSD
- Timeframes: H4 (determining the trend), M5
- Indicators: QQE, QQE MTF, EMA, CCI, MACD, Fx TrendBand
- Daily goal: 20 pips
Rules
Determining the trend. Look to the H4:
- Trend is up then QQE cross up and QQE MTF’s bar is blue.
- Trend is down then QQE cross down and QQE MTF’s bar is red.
Wait for a pull back and enter a trade. Look to M5:
If trend is up for buy order:
1. Price touch EMA (5, Low) of H1 (brown line);
2. CCI is below -100 level;
3. EMA (4, Close) cross up EMA (5, Open) – Fx TrendBand is blue;
4. Current bar of MACD close on higher level than the previous bar.
If the signal occurs at a time when the price is above the ЕМА(20, Close) (black line) on H1, this is a much stronger signal.
- Stop Loss is placed below the previous cycle low or 20 pips but 20 pip min.
- Close order with profit when CCI is above 100 level and the EMA(4, Close) cross below the EMA(5, Open) or by your discretionary.
If trend is down for sell order:
1. Price touch the EMA(5, High) of H1 (light blue line);
2. CCI is above 100 level;
3. EMA (4, Close) cross down 5 EMA (Open);
4. Current bar of MACD must close on lower level than the previous bar.
If the signal occurs at a time when the price is below the ЕМА(20, Close) (black line) on H1, this is a much stronger signal.
- Stop Loss is placed above the previous cycle high or 20 pips but 20 pip min.
- Close order with profit when CCI is below -100 level and the EMA(4, Close) is above the EMA(5, Open) or by your discretionary.