This trading strategy is the combination of QQE and 100 EMA indicator. This will serve as our trend direction filter. If price is above it, then we will only look for a buy signal. If the price is below it, then we will only trade sell signals.
As for our entry signal, we will be using the crossing of the QQE line over its midline. To do this, we should have an established trend determined by price staying above or below the 100 EMA for quite some time. Then, we will wait for the price to retrace near it. This will coincide with the QQE line retracing to its midline and going over for a few candles. Then, as price resumes its trend, the QQE line will immediately go back to the correct side of the midline. That would be our signal to take the trade.
Indicators:
- 100 Exponential Moving Average (EMA)
- QQE
Timeframe: 15-minute chart and above
Currency Pair: any
Trading Session: any
How to trade with QQE and 100 EMA Forex Trading Strategy?
Entry
- The market should be on a bullish trend determined by price staying above the 100 EMA for quite some time
- The QQE should be above the midline
- Wait for the QQE to dip below 50 as price retraces
- Enter a buy trade as soon as the QQE goes back above 50
Stop Loss
- Set the stop loss below the swing low
Take Profit
- Set the take profit at 1.5x the risk on the stop loss
Sell (Short) Trade Setup
Entry
- The market should be on a bearish trend determined by price staying below the 100 EMA for quite some time
- The QQE should be below the midline
- Wait for the QQE to go above 50 as price retraces
- Enter a buy trade as soon as the QQE goes back below 50
Stop Loss
- Set the stop loss above the swing high
Take Profit
- Set the take profit at 1.5x the risk on the stop loss
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the post.
- Save the file to your computer.
- Extract and move the files into the MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “QQE and 100 EMA Forex Trading Strategy” template to apply it on the chart.
Note: This indicator was developed by James. AtoZ Markets does not carry any copyrights over this trading tool.
