Forex Strategy «Bill Williams Balance Line» is designed to trade on H4 charts all currency pairs to trade, we need only one exponential moving average with period 25 — EMA (25), apply it to a close.
Trade is only pending orders Buy Stop and Sell Stop.
- To be placed orders, you must find the price chart the last «complete bar», the moving average crosses the EMA (25).
Important: The «complete bar» — a price bar or candle, which continued closing price.
Deferred Buy Stop order to expose one point above the maximum of «complete bar» which crosses EMA (25) from the bottom up, if the price closed above this moving average.
Sell Stop is exposed to one point below the minimum, completed the bar, crosses EMA (25) top-down, if the price closed below this moving average.
A safety stop-loss must be set to one point above the maximum or below the low bar, crosses EMA (25), but no closer than 30 pips from current price.
Need to view your order every 4 hours. If the position is not closed by stop-loss and is in the positive zone for you, then stop-loss to move to the maximum or minimum of the new H4 closed bar. When the profit 50 points and close the 1 st H4 candle after the opening of the transaction, it must be translated into a trailing stop 50 points.
Important addition: if the price sharply pierced EMA (25) and closes very far from it, the pending orders is better not to install, because very high probability census hai or low of this candle and further rollback. In this case, better to wait for the rollback, but it has since put the necessary warrants.
Video forex strategy «Balance Line»:
And Video — 2: