Check related videos -How To Open A Free $50,000 MetaTrader 4 (MT4) Trading Demo Account https://youtu.be/cW1DxURl4f8 -Forex Risk Management System - How To Stay In The Game https://youtu.be/L-Gz6YTEP5A -Trading Strategy Using MACD, Fibonacci and Moving Averages https://youtu.be/mFhnaXQ8PNA Before we go on to the strategy proper, there is a need for us to establish some baseline principles. One of these principles is that if the price of the currency pair is too close to the 100 SMA or 200 SMA (i.e. within a range of 25 pips), we do not open any positions. This is done irrespective of whether trade conditions are screaming for a trade to be opened or not. Secondly, the strategy is designed to work best on hourly charts where a candlestick represents the price activity in the markets or on the currency pair for one hour. This makes it suitable for intraday traders, whose trading process involves opening and closing positions within the same trading day. Thirdly, the MACD signal that will be considered for this trade is not the conventional upward or downward movement above or below the zero line. Rather, we will look at the position of the bars of the MACD indicator relative to the MACD signal line (the red dotted line in the MACD indicator window). So if the bars of the MACD indicator are located above the MACD signal line (irrespective of whether the MACD is in positive or negative territory), this would constitute our bullish signal. If the bars of the MACD are located below the signal line (irrespective of whether the MACD is in positive or negative territory), then this indicates a bearish signal for us. With these principles in place, we can now move on to the core aspects of this trading strategy. For the strategy proper, it is essential to remember that any trades to be taken must be done at the open of the new candle. Therefore, we must wait for the previous candlestick to close, and then for a new one to open.
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