We present to your attention the Forex strategy - Momentum Elder which is based only on 2 indicators and has very simple rules. It is the better to trade on this strategy on the currency pairs: EUR/USD, GBP/USD, USD/JPY and USDCAD and at time period H1. To trade on this strategy it is necessary:
1. To set the Moving Average indicator from the section "Trend"
with a period 19, and MA Method «Exponential».
2.To install the indicator Anchored Momentum сfrom the section «For divergence»
with the settings MomPeriod = 18 and SmoothPeriod = 1.
And these two indicators will look at the chart like that:
The necessary conditions for conclusion of the transaction on Buy:
The line of the Anchored Momentum indicator shall cross zero and fix near it.
So far the line of the Anchored Momentum indicator is located above zero, we will wait when the price is closed above the blue line and the most part of a body will be above the line.
At opening of the following candle we will open the transaction on Buy with Stop Loss under the next local minima and take profit twice big, than a stop loss, as shown at the pic.
If the transaction was not yet closed neither on profit, nor on a loss, and the line of the Anchored Momentum indicator fell below zero, then transactions shouldo be closed.
For Sell it is necessary to wait for opposite conditions.
We wish you high profit.
It is possible to discuss this strategy at forum