Stochastic and MACD
This system is pretty easy and simple. But u have to be patient coz it is for longterm traders. It is tested on daily chart.
Setup:-
Macd = 8,18,14
Slow Stoch = 10
If MACD gives buy signal then look for slow stochastic which must be below 80. If MACD gives sell signal then look for slowstochastic which must be above 20.
Adjust SL and TP according to ur Risk management strategy. Use trailing stops to maximize ur profit.
The good or ill of a man lies within his own will. – Epictetus
Thx for sharing dear.
So I think it is not for day traders and only for swing traders.
Originally posted by JogiThx for sharing dear.
So I think it is not for day traders and only for swing traders.
You can test it in 5 hour timeframe but I havnt tested it on 5 hrs yet.
The good or ill of a man lies within his own will. – Epictetus
thx for sharing system. It looks one of very basic forex strategies. What was average time per trade? In my opnion it will be around 2 to 3 days so it is hard to check this EA.
Originally posted by ironicalThis system is pretty easy and simple. But u have to be patient coz it is for longterm traders. It is tested on daily chart.
Setup:-
Macd = 8,18,14
Slow Stoch = 10If MACD gives buy signal then look for slow stochastic which must be below 80. If MACD gives sell signal then look for slowstochastic which must be above 20.
Adjust SL and TP according to ur Risk management strategy. Use trailing stops to maximize ur profit.
hmm What strategy do u use to set SL and TP? Do u wait for trend reversal or some fixed SL and TP?
Stick to your rules
Originally posted by ironicalThis system is pretty easy and simple. But u have to be patient coz it is for longterm traders. It is tested on daily chart.
Setup:-
Macd = 8,18,14
Slow Stoch = 10If MACD gives buy signal then look for slow stochastic which must be below 80. If MACD gives sell signal then look for slowstochastic which must be above 20.
Adjust SL and TP according to ur Risk management strategy. Use trailing stops to maximize ur profit.
Usually strategies here were mostly of MAs alone. This is the first simple strategy here using MACD and Stoch. I will try to check it.
Originally posted by SashaUsually strategies here were mostly of MAs alone. This is the first simple strategy here using MACD and Stoch. I will try to check it.
Yea that is right. I have used MACD, RSI and fib but never used stoch in my trading. I will first have to read about stoch so that I can understand if we can change stoch settings in order to make it better strategy for day traders.
Right indicators can really help us in making profits, but first we need to prepare it which can be done through practicing and that’s on with demo account. I love it through OctaFX who gives me huge benefit that’s because of their incredible educational setup which is very simple yet is highly effective. To add more to it, they have epic setting for providing daily market news and analysis updates, trading tips and much more, so all this helps one figuring out things superbly.
Here you can download Free EA created with MACD or Stochastic and there are other free ea and indicators.
Name EA MACD and EA STOCH https://www.bestfxtools.com/free-forex-ea,en.html