In this session I will explain my strategy:
We can use time frame and currency which respond the best (1 hour, 1 day… or any other) that you like to use.
Indicators: (multiple of 7) 7 SMA, 14 SMA, 21 SMA.
Entry rules: When you see 7 SMA goes through 14 and continues through 21, BUY/SELL in the direction of 7 SMA once price gets through 21 SMA.
Exit rules: exit when 7 SMA goes back and touches 21 SMA
Advantages: again it is an easy to set up and does not require any calculations or other studies. It can produce very good results when strong market moves, this system also can be easily programmed and traded automatically.
Disadvantages: System requires periodical monitoring according to a chosen time frame. SMA indicator signal can be confirmed after the current price bar has been fully formed and closed. In other words, when SMA stops changing and the signal is fixed, traders may rely on such information to open a trade.
But I will say only. Just enjoy it.
If you have a new strategy, please share it with us here, because by it you can help thousands improve their trading!
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