ATR Stops with Magic FX - trend following trading system
ATR Stops with Magic FX is based on two indicators, of which, in fact, the name of the strategy consists of. The idea of the strategy is to generate signals to enter the market using the ATR Stops indicator and filtering with the Magic FX indicator. The system can be used on all timeframes, but the author recommends H1.
Characteristics of the ATR Stops with Magic FX
- Platform: Metatrader4
- Currency pairs: Major pairs
- Trading Time: Any (for M5 - London session)
- Timeframe: M5 (ONLY London session and higher)
- Recommended broker: Alpari, Forex4you, RoboForex
Settings for indicators
For the ATR Stops and Reverse indicator, depending on the timeframe used, the following settings should be applied:
- for М5: Time frame - 15 Minutes, Triple Exponential moving average - TEMA, ATR period 10;
- for М15: Time frame – 30 Minutes - 1 Hour, Triple Exponential moving average - TEMA, ATR period 10;
- for Н1 - Н4: Time frame - 1 Hour, Triple Exponential moving average - TEMA, ATR period 10.
Magic Fx - default settings.
Lower Indicator - Market Hour is informative in nature and is required to clarify the current trading session.
Rules of trade by ATR Stops with Magic FX
- Green line from the ATR Stops
- Appeared a blue vertical line from the Magic FX
- Red line from the ATR Stops
- Appeared a red vertical line from the Magic FX
Stop Loss is set at a distance of 2 pips from the line of the ATR Stops indicator.
Take Profit is set according to the trend, depending on the currency pair and timeframe. It is possible to close a position when an opposite signal appears or when the price reaches one of the pivot levels.
ATR Stops with Magic FX is a fairly simple system, with simple and clear rules that are accessible even to beginner traders. But no less, before using this system on a real account, be sure to test it on a demo.
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In the archive ATR_Stops_with_Magic_FX.rar:
- ATR - Stops1.01 (mtf + alerts).mq4
- FIB - MarketHours.ex4
- Magic Fx Formula.mq4
- ATR stops with Magic FX.tpl
Free Download ATR Stops with Magic FX