Elder Mdac Signals Forex Trading Strategy

The Elder Mdac Signals forex trading strategy simplifies your trading with its excessively streamlined buy/sell trade setup rules that requires you to just sit back and wait for things to click on your activity chart.

The strategy uses two indicators which are neatly added to allow the system spot trends in their early stages and also when they’re about to end.

Chart Setup

MetaTrader4 Indicators: ExponentialMovingAveragesSignals.ex4 (Inputs Variable Modified; FasterEMA=15, SlowerEMA=18), ZZ_YZ_MDAC_ELDER_1-1000.ex4 (Default Setting)

Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day

Recommended Trading Sessions: Any

Currency Pairs: Any pair

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Buy Trade Example

Fig. 1.0

Strategy

Long Entry Rules

Initiate a buy entry if the following indicator or chart pattern gets put on display:

  1. If the green upward pointing arrow of the ExponentialMovingAveragesSignals.ex4 custom indicator gets aligned somewhat below price bars as shown on Fig. 1.0, price is said to be taken higher i.e. a trigger to buy the designated currency pair.
  2. If the histograms (green, medium blue & red) of the ZZ_YZ_MDAC_ELDER_1-1000.ex4 custom indicator break above the 0.00 level as seen on Fig. 1.0, it is indicative of a bullish trend, as such initiating of buy position(s) will suffice.

Stop Loss for Buy Entry: Place stop loss below short-term support.

Exit Strategy/Take Profit for Buy Entry

Exit or take profit if the following rules or conditions takes precedence:

  1. If the ExponentialMovingAveragesSignals.ex4 custom indicator displays a red downward pointing arrow as depicted on Fig. 1.0, price is said to be making a bearish reversal i.e. a trigger to exit or take profit at once.
  2. If the ZZ_YZ_MDAC_ELDER_1-1000.ex4 custom indicator forms a red histogram that pops up below the 0.00 level, bulls power is said to be weaning i.e. a trigger to exit or take profit at once.

Sell Entry Rules

Enter a sell order if the following holds sway:

  1. If the red downward pointing arrow of the ExponentialMovingAveragesSignals.ex4 custom indicator gets displayed fairly above price bars as exemplified on Fig. 1.1, price is said to be driven lower i.e. a trigger to sell the selected forex pair.
  2. If the histograms (red, medium blue & green) of the ZZ_YZ_MDAC_ELDER_1-1000.ex4 custom indicator dip below the 0.00 level as illustrated on Fig. 1.1, it is indicative of a bearish trend, as such opening of sell order(s) will do.

Stop Loss for Sell Entry: Place stop loss above short-term resistance.

Exit Strategy/Take Profit for Sell Entry

Exit or take profit if the following takes to the fore:

  1. If the ExponentialMovingAveragesSignals.ex4 custom indicator displays a green upward pointing arrow as seen on Fig. 1.1, price is said to be making a bullish reversal i.e. a trigger to exit or take profit at immediately.
  2. If the ZZ_YZ_MDAC_ELDER_1-1000.ex4 custom indicator forms a green histogram that gets displayed above the 0.00 level, bears power is said to be halting i.e. a trigger to exit or take profit forthwith.

Sell Trade Example

Fig. 1.1

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About The Trading Indicators

The ExponentialMovingAveragesSignals.ex4 is a custom indicator that applies the faster EMA (5) and the slower EMA (6) crossover in defining market trend.

The ZZ_YZ_MDAC_ELDER_1-1000.ex4 combines’ trend following and momentum, with the histogram colored according to Elder.

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