*** Forex System - RSI, Bollinger & 75EMA

TF = H1

Indicators :

RSI 14, 75ema, BB 20, 5ema shift 5

GOING LONG: When a candle closes above the 75 ema as well as the bollinger middle line, and the RSI line breaks above the 50 line or a resistance pattern, enter LONG.

Stop loss - there will be 3 notable levels below your entry - the low of the signal candle, the 75 ema, and the recent swing low of the 5 ema. Of these three I will use whichever is in the middle of the others to place my stop 2 pips below.

GOING SHORT: When a candle closes below the 75 ema as well as the bollinger middle line, and the RSI line breaks below the 50 line or a support pattern, enter SHORT.

Stop loss - same as for long - I will place my stop 2 pips + the spread above whichever is the middle of the 75ema, high of the signal candle, and swing high of the 5ema.

I will either use a 1:1 R:R, or a 1:2, so either close my trade at 100% the distance of my stop or 200%, depending on how wide the stop is to begin with - for example if my stop ends up only being 45 pips on GBPJPY and the trade was opened near the beginning of London, I will use a target of 90 pips. But if my stop is 78 pips on EURUSD, I will use a take profit of 78 pips as well.

I generally risk 2% of my total account for this particular strategy.

It is a very good, low maintenance system that has been thoroughly tested.

It has an average of two trades a month. Each trade may last from a few hours to several days.

It should return around 30% a year on your account- more with compounding.

It was developed by Tonymand, an excellent trader and an all around good guy. Tony has a great mind and always has time to answer questions. He's one of the bright spots of the forex community.

I will give the rules. Provide a screenshot and post an indicator and template.

Tony provides a lot of background for the system development as well as backtesting results.

RULES

1. On a MACD cross enter the trade 1 pip above/below the last completed 4 hr candle in the direction opposite the cross. Taking a short trade as an example if the candles continue to move up without breaking the last low the entry is moved to the bottom of the last completed candle. I will post screen shots of this to make it clearer

2. Stop is set at 60, TP at 250

3. If while in the trade another signal is generated in the same direction this is taken (ie you can have more than one trade open at the same time). However any signal in the opposite direction is ignored.

4. Once a trade has moved to a profit of 60 pips the stop is moved to break even

Below I will post the proper MACD along with a template that contains the settings.

The screenshot shows a long setup. The logic is reversed for a short- MACD crosses above 0. Sell stops are placed 1 pip below the previous bar's low.

Forex System - RSI, Bollinger & 75EMA

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On the picture, the red arrow is pointing down to the candle that generates the signal, and the position is taken when that candle closes. The blue line indicates the entry price for the short, the red line indicates the stop and the green line indicates the target.