Sooner or later all Forex traders begin experimenting with different EMA settings.
Quite often very interesting combination can be spotted. Here is one Simple Forex system based on 50 EMA indicator.
Any currency pair.
Time frame: 90 minute or 3 hour chart, 4 hour chart
Indicator: 50 EMA.
Entry: watch for a candle to pierce 50 EMA and finally close above (to enter Long) or below (to go Short). Enter with the second candle after it makes 5 pips higher than the previous one.
Exit: not set.
Stop loss order: 15 pips below 50 EMA.
This strategy and others can be found on forex-strategies-revealed.com.
I didn't realize it until now, but the author of this strategy, Edward Revy, is also the website creator. This newbie is impressed!!
A pip A pip is the smallest unit of measure for any currency. In most currencies, this is the fifth digit, or the fourth after the decimal point; in dollars, each pip is equivalent to one-hundredth of a penny. One important exception is the Japanese Yen, in which each pip is the second unit after the decimal point, meaning each pip equals one cent.is the smallest unit of measure for any currency. In most currencies, this is the fifth digit, or the fourth after the decimal point; in dollars, each pip is equivalent to one-hundredth of a penny. One important exception is the Japanese Yen, in which each pip is the second unit after the decimal point, meaning each pip equals one cent.
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