Forex trading system "EURGBP TrendMagic System"

Details

Categories: Technical, Trend Following, Metatrader Only

Timeframes: 5 Minutes

Currency pairs: EURGBP

Trading sessions: US Session (New York), European Session (London)

Indicators used

Entry rules

The entry rule is based on two indicators, namely the Trend Magic and the BB Macd. When the Trend Magic indicator and the BB Macd indicator show blue color, we will open a buy trade. Vice versa, when the Trend Magic indicator and the BB Macd indicator show red color, we will open a sell trade in the picture below.


 

Trade management

Once entered the market, we just need to wait for the Trend Magic Indicator to show a reversal signal and exit the trade with profit or loss.

Exit rules

The trade will exit once the Trend Magic shows a reversal, whether there is a profit or a loss. As you can see in the picture below, we exit the trade when the trend magic shows blue color, giving us a profit of about 30 pips.


 

Advantages

This is a simple system, which does not need use our brain too much, especially on a tired day. Both Trend Magic Indicator and BB Macd are one of the best indicators in the forex world, which work together hand-in-hand which may not give us a holy grail system, but at least the system will give us confidence when opening a trade during the London or New York session.

Disadvantages

We need to watch out for reversal signal and close the trades fast to prevent further pip loss.

Metatrader 4 chart template files