Cowabunga Trading System MT4 comes up with a great idea to follow the trend with the combination of multiple Exponential Moving Averages and momentum based indicators. This system has been producing trading signals with higher probabilities in a steady peace over the year. Now this system is being admired many traders from newbie to professionals across the market.
Cowabunga Trading System states the trend status is a very sophisticated way so that traders from all levels can be benefited while trading in the market. Besides you’ll be able to apply it on any currency pair window with a perfect match to all kind of time frame charts.
Cowabunga Trading System Overview
After the installation of this system at your mt4 terminal, the chat should be appeared as the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
Cowabunga Trading System Anatomy
- 5 & 10 EMAs: These are 5 and 10 respective period Exponential Moving Averages which produces crossover trend signals. 5 EMA crosses above 10 EMA signals the bullish crossover and if 10 EMA crosses above 5 EMA then represents the bearish crossover.
- Stochastic Oscillator: This is a very much popular momentum swing indicator. Its value near 80 indicates the overbought condition and near 20 levels states the oversold condition of the market momentum.
- OsMA: It indicates the trend strength by its histogram bar signals. Its value above zero signals the bullish strength and a negative value represents the presence of the bearish thrust.
- RSI: Relative Strength Index is a well known trend based indicator around the market. It uses its index level to show the possible trend direction changes. Its value below 30 level signals the oversold condition of the market and if reaches above 70 level then indicates the overbought condition of the market.
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Cowabunga Trading System: Buy Parameters
- 5 EMA crosses above the 10 EMA plotting bullish crossover
- The signaling bullish bar closes above the EMA levels
- Stochastic Oscillator bounces upwards from 20 level
- OsMA represents positive value
- RSI moving upward and supported by its 30 level
- Stop loss below the EMA levels or the respective signaling bar low
- Exit long whenever EMAs plots the bearish crossover and Stochastic Oscillator or RSI reaches overbought levels.
Cowabunga Trading System: Sell Parameters
- 5 EMA crosses below the 10 EMA plotting bearish crossover
- The signaling bearish bar closes below the EMA levels
- Stochastic Oscillator bounces downwards from 80 level
- OsMA represents negative value
- RSI moving downward and resisted from 70 level
- Stop loss above the EMA levels or the respective signaling bar high
- Exit short whenever EMAs plots the bullish crossover and Stochastic Oscillator or RSI reaches oversold levels.