EMA and Woodies CCI MT4 Forex Trading Strategy is very simple to follow and suggests accurate and profitable trading positions based on three technical indicators.
These all indicators are related and show reading in the same direction at the same time. This is a short term strategy (as the suggested timeframes are 5min, 15min, 30 min, and 1-hour chart) that works fine at any type of currency pair.
Tools used at EMA and Woodies CCI MT4 strategy
- MACD
- Woodie CCI
- EMA Crossover
The Moving average convergence divergence (MACD) is a very popular indicator that shows reading at an independent window by histogram and a signal line.
This indicator window got a middle (0) line when the positive or bullish force begins at the asset price the bars appeared above the middle line, and for the negative or bearish price movement the bars of this indicator seen below the middle line.
For the bullish price movement, the signal line of this indicator window moves towards the upside and it moves toward the downside for a bearish price movement.
Woodie CCI is a modified version of the traditional CCI indicator that can be used in the same way as the MACD indicator.
This indicator got two signal lines but the movement and the histogram created by this indicator likely the same as the MACD indicator at both sides of the middle (0) line.
EMA crossover used at this strategy that slower and faster EMA got crossed at a certain value and creates different colored arrow below and above the price candles at the main chart.
The green arrow below the price candles declares bullish pressure and the red arrow above price candles means bearish pressure at the asset price.
The method is very simple when the arrow appears at the main chart check and verify the MACD and CCI reading and make an order at a certain price.
Before placing any order verify the price direction from the upper timeframe chart is recommended to eliminate the fake high/lows.
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