Day Trade Setup System is a forex trend-based trading strategy. Recently, it got widely popular to EMA following intraday traders. It has been developed to help newbie forex trend following traders so that they can detect the right trend and carry out the market entries according to the trend direction with proper timing.
Day Trade Setup System can be used to trade all kinds of forex currency pairs at the market. Moreover, you’ll also be able to fit this useful forex trading strategy with any timeframe chart available at your MT4 trading terminal.
Day Trade Setup System Overview:
After the installation of Day Trade Setup System at your forex MT4 terminal, your trading chart will appear like the following image:
|Time Frame||Currency Pairs||Indicator Factors||Ratings|
Must Use: CAP Channel Trading Indicator
Day Trade Setup System Anatomy:
- EMA Set: It is a set of Exponential Moving Averages from 6 to 21-day periods. Lower day-period EMAs are greater than the larger day-period EMAs and price closing above all EMA levels signal the bullish trend of the market. An exact opposite scenario of the above condition confirms the bearish trend of the market.
- RSI: One of the most popular forex momentum indicator at the market. Its value near the 30 level signals the oversold condition of the market. On the other hand, it reaches near 70 means the overbought condition of the market.
- MACD: An widely used momentum based indicator. It turns negative means the current momentum is bearish. Conversely, MACD with positive value confirms the current momentum as bullish.
Day Trade Setup System: Buy Parameters
- Lower day-period EMAs are greater than the higher day-period EMAs
- Price is closing above the EMA Set levels
- RSI bounces upwards from its oversold condition
- MACD turns positive
- Buy triggers when all of the above conditions are met
- Set stop loss below the EMA Set levels
- Exit long/take profit whenever price closes consecutively inside the EMA Set area
Day Trade Setup System: Sell Parameters
- Higher day-period EMAs are greater than the lower day-period EMAs
- Price is closing below the EMA Set levels
- RSI jumps downwards from its overbought condition
- MACD turns negative
- Sell triggers when all of the above conditions are met
- Set stop loss above the EMA Set levels
- Exit short/take profit whenever price closes consecutively inside the EMA Set area
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1 thought on “Day Trade Setup System”
Hi Thanks for the super system