by pureprice
The required tools:
1- MT4 platform with 5-min or 15-min charts
2- Indicators: some will be used for setup, some for trade trigger, and some for confirmation.
3- Familiarity with price action, candle sticks, pivot points, support/resistance, trendlines and channels are always helpful.
Trade Setup indicators:
EMA(50) and EMA(100) both applied to the candle close.
This is what determines the "trend". If EMA(50) is above EMA(100) we will only be looking for a Buy trigger. If EMA(50) is below EMA(100) we will be looking for a Sell trigger.
Trade Trigger Indicators:
BBands Stop (8,2,0.2,1,1,1000, true) applied on the chart with blue and red colours. If BBStop is blue it means long if BBStop is red it means shortl. However, what we will take as a Sell trigger is that BBStop has turned red, and is BELOW both the EMA(50) and EMA(100). ALSO the price has crossed below the candle where theBBStop "large red dot" appears. This large red dot is the start of the down trend according to BBStop. This large BBStop dot will produce an alert on your platform so it is a nice way to let you know we might be getting a trend setup soon. Reverse the above for a Buy.
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