The woodies foreign exchange trading strategy is a mixture of the all woodies cci v1.0 MetaTrader 4 custom indicator, the ADX candles custom indicator and the exponential moving average (50). This technique is able to determine cyclical trends in a currency pair and can constantly lead to more gains.
- The all woodies cci v1.0.ex4 (candlesticks per time period modified=2000), ADX candles.ex4 and EMA (50) are the only MetaTrader 4 indicators required to utilize this technique.
- The recommended time frame for utilizing the strategy is one minute, five minutes, thirty minutes, one hour or four hours.
- Works perfectly on any recommended trading sessions.
- Works perfectly on any currency pairs.
Purchase Trade Instance
Begin a purchase order when the following conditions are achieved:
- If the all woodies cci v1.0 MetaTrader 4 custom indicator creates blue candlesticks and its lime green borderline higher up the 0.00 level, it illustrate a purchase signal is forthcoming in the market.
- If the ADX candle changes lime, it demonstrates a bulls market.
- If the red EMA (50) borderline creates beneath price candles and a bar begins and ends higher up its line, it illustrate a bullish market.
Position your stop-loss beneath the most current prime support level.
Take-Gain for Purchase Order
The following market conditions will determine an exit or take-gain on open positions:
- Observe for the red candlesticks and lime green borderline of all woodies cci v1.0 MetaTrader 4 custom indicator, if they create beneath the 0.00 level, it’s an exit or take-gain trigger.
- If the ADX changes red and bypasses beneath the red EMA (50) line, the positions should be exited or ended accordingly.
- If the red EMA (50) borderline creates higher up price candlesticks, it’s an indication that price pressure are in approval of a downward push.
Auction Entry Rules
Begin an auction order when the following chart arrangements are demonstrated:
- If the all woodies cci v1.0 MetaTrader 4 custom indicator red candlesticks and its lime green borderline create beneath 0.00 levels, an auction is highly advised.
- A bearish trigger is achieved if the ADX candles changes red.
- If the red EMA (50) line creates higher up price candlesticks, it is an indication that price is been pushed lower. In other words, an auction market.
Position your stop-loss higher up the most current prime resistance level.
Take-Gain for Auction order
Exit positions if the following chart patterns are demonstrated:
- If the lime green borderline and blue candlestick of all woodies cci v1.0 MetaTrader 4 custom indicator displays higher up the level 0.00 level, an exit or take-gain is highly advised.
- Open positions should be ended or exited if the ADX candles changes lime and bypasses higher up the EMA (50).
- If the red line of the EMA (50) MetaTrader creates beneath price curve, it’s a change in direction of the signal, thus open orders should be ended or exited.
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.