Hey, Fortune Hunters. Welcome to our blog.
In honor of Halloween, we created a new template called Simply Spooky and told you which indicators we used to build it in a recent YouTube video. We invited you here (by clicking a link in that YouTube video description) to learn how to trade that template.
The first step is to get all the indicators lined up and in synch. Let’s take a look at a buy zone. .
First we require that the multiple moving averages, 12, 16, 20 and 24 EMA, all be stacked to the upside. This means simply that the 12 has crossed up over the 24. As the trend progresses the moving averages will create a set of “bands.” Second, we add a 47 EMA as a fail safe stop loss level on the downside. Third, we insert the Zeelander Signal line, a horizontal line drawn at the closing price of the 12 and 24 crossover candle. Fourth, comes Trend Magic. On our chart, when Trend Magic is white, price is likely headed higher. Fifth, we add oscillators like RSI and colored MACD for confirmation of our signals. And finally, if it doesn’t make the chart too busy, we can also include the basic Itchimoku Cloud. In an up move, the cloud will rest below all of the moving averages.
Here is what the Simply Spooky Metatrader template looks like when complete. This snapshot is of the AUD/USD in an uptrend on October 8th and 9th, 2020. Following that is a video of how to trade Simply Spooky, using the USD.JPY currency pair. Feel free to leave questions in the Comment Box.
