Ribbon Explosion MT5 Forex Strategy, a dynamic strategy that capitalizes on trend and momentum indicators for superior self-filtering capabilities. This innovative filter system is designed to enhance the number of profitable trades by operating exclusively within the prevailing trend. The primary goal of this system is to minimize false signals. It was inspired by a more complex online version, which I have simplified for greater accessibility.
Strategy Setup:
Time Frame: 15 minutes or higher.
Applicable to all currency pairs.
Metatrader 5 Indicators:
On the Main Window:
Exponential Moving Average (EMA) of 200 periods, closing price.
Zig Zag NK (60, 5, 3).
MA Ribbon (fast EMA 9, Slow EMA 76).
Color MACD Candles (12, 26, closing price).
T3 Ribbon (default settings).
PTL (3, 7).
In the Sub Window:
Within the same window, use MACD Color (12, 26, 9) and Trix Arrow (14, 8).
Trading Rules for the Ribbon Explosion of Profits Forex Strategy:
Execute trades exclusively in the direction of the prevailing main trend.
Buy only when the price is above the 200-period Exponential Moving Average (EMA), and sell when the price is below the 200-period EMA.
Buy Positions:
Verify that the price is above the 200-period EMA.
Ensure that the price is above the Ribbon Cloud.
Look for a green bar on the MACD Color.
Spot a buy arrow on the Trix oscillator.
Check that the PTL indicates a buy direction below the price.
Sell Positions:
Confirm that the price is below the 200-period EMA.
Ensure that the price is below the Ribbon Cloud.
Look for a red bar on the MACD Color.
Spot a sell arrow on the Trix oscillator.
Check that the PTL indicates a sell direction above the price.
Exit Position Options:
Place the initial stop loss below/above the previous swing high/low.
Take profit when there is an opposite PTL signal.
Secure profit when the price closes below/above the Ribbon Cloud.
For visual examples of trades using the Ribbon Explosion MT5 Forex Strategy, please refer to the included images.
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