200 EMA is very profitable mt4 indicator. This indicator can give about the idea of a true trend. The strategy is combined with 200 EMA and MACD. If you get any signal in daily time frame from this strategy, then you can get minimum 100 pips and if you hold your trade then you can get more than 500 pips from only one trade.
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1) 200 EMA
2) MACD with default setting
How to get Signal:
Buy Signal: When candle cross 200 EMA from lower to upper and at the same time MACD is above 0.0 level, then you can take buy entry. If MACD is below 0.0 level, then you have to wait from MACD confirmation. When MACD goes upper 0.0 level, then buy signal will be confirmed.
Sell Signal: When candle cross 200 EMA from upper to lower and at the same time MACD is below 0.0 level, then you can take sell entry. If MACD is above 0.0 level, then you have to wait from MACD confirmation. When MACD comes down to 0.0 level, then sell signal will be confirmed
Time frame: H4 or Daily
Currency pairs: All pairs.
Take profit and stop loss: Stop loss should be placed below 200 EMA for buy entry and above for sell entry. You can set stop loss with your risk ratio. If you target 1:4 risk ratio and if your take profit 400 pips, then you can set 100 pips stop loss. For higher time, take profit should be more than 200 pips.
Risk warning: Though this is profitable strategy, you can loss if you follow this strategy in ranging market. So you need to practice this strategy in demo account before trading in real account. You must need proper money management for following this strategy. You should not take more than 2-3% for every trade for this strategy. You need to keep patience for getting more pips from this strategy.