Double EMA Channel with RSI and Stochastic

 Indicators

* Trade on daily chart (swing trading Stock strategy)

* 5 EMA channel (applied to the close and add levels 50, -50);

* 10 EMA channel (applied to the close and add levels 50, -50);

* Stochastic indicator (11,3,3);

*RSI indicator (14);

 

 Trading Rules: Double EMA Channel with RSI and Stochastic Forex Strategy

Entry Rules Enter long if:

1. The 5 EMA channel crosses above the 10 EMA channel and both Stochastic indicator lines are heading up (do not enter if the stochastic indicator lines are already in the overbought territory)

2. RSI indicator is greater than 50

Enter short if:

1. The 5 EMA Channel crosses below the 10 EMA Channel and both stochastic indicator line are heading down AND (do not enter if the stochastic lines are already in oversold territory)

2. RSI indicator is less than 50

 

 

Exit Position opions:

Exit when the 5 EMA channel crosses the 10 EMA channel in the opposite direction of your trade;

if RSI indicator crosses back to 50;

with Profit Target 150-170 pips and Stop Loss = 70-80 pips.

In the pictures Double EMA Channel with RSI and Stochastic Stock system in action.

Double EMA Channel with RSI and Stochastic

Double EMA Channel with RSI and Stochastic

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