Oracle Momentum Cross Forex Trading Strategy applies a very simple approach to identify the market trend and confirm the trade signals based on the trend directions. Besides, it is also able to generate the trade exit signals of any open position at the market. Since it has been launched, its simplicity of use has attracted many traders especially, the newbie participants of the market.
Oracle Momentum Cross Forex Trading Strategy can be applied to trade all kinds of forex currency pairs around the market. Furthermore, this strategy fits well with all sorts of timeframe charts within the forex MT4 trading platform.
Oracle Momentum Cross Forex Trading Strategy Overview
After the installation of the strategy at the MT4 terminal, your chart will appear like the image below
Oracle Momentum Cross Forex Trading Strategy: Explanation
- HMA36: This indicator appears as dotted lines and works as a trend identifier. Price closes above the HMA36 level represent the bullish trend of the market. For a bearish trend confirmation, the price must be closing below the indicator level.
- Oracle Move: You’ll red see two kinds of Oracle Move at the chart. One is blue and another one is red. Blue Oracle moves above the red one represents the bullish crossover of the market trend. On the other hand, the red Oracle moves above the blue one have identified as the bearish crossover the market trend.
Oracle Momentum Cross: Trading Rules
- Price closes as a bullish bar above the HMA36
- Oracle Move plots the bullish crossover trend signal
- Buy triggers when both of the above conditions are met at the same time
- Set stop loss below the HMA36 level
- Exit long/take profit whenever price closes as a bearish bar below the HMA36 level
- Price closes as a bearish bar below the HMA36
- Oracle Move plots the bearish crossover trend signal
- Sell triggers when both of the above conditions are met at the same time
- Set stop loss above the HMA36 level
- Exit short/take profit whenever price closes as a bullish bar above the HMA36 level