5 Min MOMO Trader MT4

5 min MOMO Trader MT4 is a very simple and powerful forex trading strategy. Simple yet robust is what this forex trading system is about. The trade signals are based on trend indictor and momentum indicator. As this trading system was developed to trade on 5 minute chart, it is a scalping system. The ultimate goal of this system is to ride the trend of the market. Regardless of short term trading or long term trading, here, we always focus on trend following strategy only. So it assumed that you have prior understanding of market trend and how market works.

5 Min MOMO Trader Overview

Have a look at a snapshot of 5 Min MOMO Trader system.

5 Min MOMO Trader Overivew
5 Min MOMO Trader Overivew
Time Frame Forex Pairs Number of IndicatorsRatings
5-minuteAny29.7/10
  •  Moving Average 20

 Moving average of 20-period is used in this system as a signal generator indicator. A simple way to use moving average as a trading signal is to buy when market price crosses above 20-period MA and sell when market is below 20-period MA.

  • MACD TrueColored

MACD TrueColored comprises of macd histogram and oscillators. You can see blue oscillator and dotted red oscillator. You should buy only when blue oscillator is above the dotted red oscillator and vice versa.

Read More: Best Forex Strategy

5 Min MOMO Trader: Buy Parameters5 Min MOMO Trader Buy Parameter

5 Min MOMO Trader Buy Parameter

  1. Forex market should be up trending.
  2. Market rate should cross above the moving average.
  3. MACD TrueColored indicator should form positive histograms.
  4. Blue Oscillator of MACD TrueColored indicator should be above the dotted red oscillator.
  5. Buy at the market rate when above parameters are met.
  6. Put your stop loss below the recent support region.
  7. Book your profit when market crosses below moving average.

5 Min MOMO Trader: Sell Parameters

5 Min MOMO Trader Sell Parameter
5 Min MOMO Trader Sell Parameter
  1. Forex market should be down trending.
  2. Market rate should cross below the moving average.
  3. MACD TrueColored indicator should form negative histograms.
  4. Blue Oscillator of MACD TrueColored indicator should be below the dotted red oscillator.
  5. Sell short at the market rate when above parameters are met.
  6. Put your stop loss above the recent resistance region.
  7. Book your profit when market crosses above moving average.
Free Download 5 Min MOMO Trader
Free Download 5 Min MOMO Trader

Get E-Book Worth $100 for Free!!!
in your inbox

Thank you for subscribing. Check your mailbox

Something went wrong.

I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

Leave a Comment