The setup for trading charts
  • Timeframe: The strategy is suitable for the timeframes: M1, M5, M15, M30, and H1.
  • Currency Pairs: For any currency pair.
  • Technical indicators: Includes EMA 14 (purple), EMA 21 (blue), CCI (14), and Master MACD (This indicator is slightly adjusted based on the default MACD on the MT4 trading platform.
Trading principles

Open a long position when the chart meets the following 3 conditions:
  1. The 14 EMA is above or crosses above the 21 EMA. This is a signal that the market is in an uptrend.
  2. The second condition is that the Histogram of Master MACD indicator breaks above zero.
  3. The final condition is that the CCI also goes above zero.
  4. You can now place a buy order and place your stop loss below the nearest support level.
The figure below shows the buy trade setup:


Exiting or taking profit from a long position:
  • If the 14 EMA crosses below the 21 EMA, if your trade is profitable then take profit and exit the order.
  • Or you can take profit based on Master MACD's Histogram signal falling below zero or when the CCI falls below zero.
Open a short position when the chart meets the following 3 conditions:
  • The 14 EMA is below or crosses below the 21 EMA. This is a signal that the market is in a downtrend.
  • The second condition is that the Histogram of Master MACD indicator breaks below zero.
  • The final condition is that the CCI also falls below zero.
  • You can now place a sell order and place your stop loss above the nearest resistance.
The figure below shows the sell setup:


Exit or take profit from a short position:
  • If the 14 EMA crosses above the 21 EMA, if your trade is profitable then take profit and exit the order.
  • Or you can take profit based on Master MACD's Histogram signal rising above 0 or when CCI goes above 0.
Summary

It can be seen that the trading principle of this strategy is very simple, in the right market conditions it can help our trader to catch the big waves in the trend.

Note, however, that this is a day trading strategy, even applicable to those who love surfing, so we pay a little attention to daily news. It is best to avoid important news of the day coming out, as price volatility due to news can make trades more prone to stop loss than usual.