![]() ![]() Forex Trading Strategy - Combining Exponential and Weighted Moving Averages.Forex Trading Strategy - a Combination of RSI, EMA and Candlestick Setups.Forex Trading Strategy Combining Stochastic Oscillator and Two EMAs.Combining Relative Strength Index, Bollinger Bands and EMAs.Combining Fast and Slow Stochastic Oscillators with EMA.Forex Trading Strategy - Combining SMA, EMA and Moving Average Convergence Divergence.The short position should be closed when: the 5-period EMA crosses the 12-period EMA from below to the upside, the RSI reading jumps above the 50.00 level, or the market reaches and stagnates at a major level of support, trend line or other level of significance, or a Hammer/Bullish Engulfing formation appears.īelow we visualized a short trade and a long trade, based on this strategy. The protective stop needs to be placed at the closest level of resistance. The long position should be closed when: the 5-period EMA crosses the 12-period EMA from above to the downside, the RSI reading falls below the 50.00 level, or the market reaches and stagnates at a major level of resistance, trend line or other level of significance, or a Shooting Star/Bearish Engulfing formation appears.Ī trader will look to go short when: first, the 5-period EMA crosses the 12-period EMA from above to the downside, while the RSI reading is below the 50.00 level second, a candlestick pattern such as a Shooting Star, or a Bearish Engulfing formation confirms the movement to the downside. The protective stop needs to be placed at the closest level of support. We will be using the following indicators: one 5-period Exponential Moving Average (EMA) (yellow on the chart below), one 12-period EMA (green on the chart below), the Relative Strength Index (RSI) with its period set to 21, overbought level – 70, oversold level – 30 and also candlestick patterns such as Hammer, Hanging Man, Inverted Hammer, Shooting Star, Bullish or Bearish Engulfing formation.Ī trader will look to go long when: first, the 5-period EMA crosses the 12-period EMA from below to the upside, while the RSI reading is above the 50.00 level second, a candlestick pattern such as a Hammer, or a Bullish Engulfing formation confirms the movement to the upside. Let us examine the 1-hour chart of USD/JPY. / Push in the latest price and get back an updated EMA.Forex Trading Strategy – a combination of RSI, EMA and candlestick setups You will learn about the following conceptsįor this strategy we can use any time frame. / Initialize a new instance of the online EMA. ![]() / Online exponential moving average indicator class: I had something similar prepped for next release - to kick off the community indicator library :) Would you be interested in contributing to the OS project? _ema = (1 - ExponentialComponent) * _ema + ExponentialComponent * priceToday ![]() / Calculate the exponential moving average Public ExponentialMovingAverage(int period) / An indicator shows the average value of secuitry's price If you know a library which can process tick data on the fly instead of doing numerous calculations, that would be great. I believe the queue is used to store data items before the average can be calculated on the average of last tick. ![]()
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