This “Forex 50 EMA Trading with NonLag MA RSI Filter” is a very simple Forex trading system that anybody can use.
50 EMA (Exponential Moving Average) is one very popular Forex indicator used by lots of traders and is used to determine the main underlying trend regardless of any corrective move in the price action.
Here’s what you need to know about the 50 EMA:
 When a price is below the 50 EMA, that’s a downtrend
 When a price is above the 50 EMA, that’s an uptrend
Remember that there will be a different trend on each time frame and it is perfectly acceptable to have a downtrend on a 4-hour chart and an uptrend on the daily chart. We’ll show you how to use s “Forex 50 EMA Trading System with NonLag MA RSI Filter” effectively.
- Time Frame: H4 or higher
- Currency Pairs: Any
- 50 EMA
- Min Signal
- NonLag MA
- Relative Strength Index
- Download “TraderVersity.Com-50EMATradingSystem” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-50EMATradingSystem.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client.
- Select Chart and Timeframe where you want to test your forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-50EMATradingSystem” trading system and strategy
- You will see “Forex 50 EMA Trading System with NonLag MA RSI Filter” is available on your Chart.
- 50 EMA: Price > 50 EMA
- NonLag MA: Lime color and > 50 EMA
- Relative Strength Index: Upward and above level 55
- 50 EMA: Price < 50 EMA
- NonLag MA: Magenta color and < 50 EMA
- Relative Strength Index: Downward and below level 45
Every trading method will have times where not everything is running according to your plan. With this trading strategy, there are 2 issues that are quite common. Dealing with them is quite simple though.
- What happens if the 1 hour 50EMA trend is different from the 4 hour and the daily time frames?
- Wait until 1 hr trend is the same as the 4hr and the daily chart.
- What happens if the 4 hours and the 1 hour 50EMA trend are the same and the daily is different?
- Every time frame has to match and have the same trend. If a one-time frame is different, you wait until all are the same trend. This can take a while so be patient!