The indicators used for this strategy are: 4 period EMA, 10 period EMA (EMA = Exponential Moving Average), ADX 28 (Average Directional Movement Index) and MACD with settings 5, 10, 4. You can use any platform that has these indicators because none of them are custom MT4 indicators. I have attached an image of what it should look like after all the indicators are plotted on your charts, as well as what a winning trade looks like using strategy.
As you can see in my winning trade image all three conditions are fulfilled almost at the same time and price immediately starts to move south. There is no clear indication in the original strategy about which signal is the final confirmation or if all conditions must be met at the same time, but from what I saw, if all signals come within a short period of time, the trade has a higher win probability.
Some of you may have noticed in my image I am using a 5 minute chart and this is posted in 15 minute strategies... Well here is why I consider this a 15 minute strategy and not a 5 minute. If we are looking at a 5 minute chart, the option must expire at least in 15 minutes because maybe the next candle after the signal will go against my trade. But if we have three candles (one 15 minute candle contains three 5 minute candles), the trade has more time to come in my direction. If you find this strategy appealing, share your thoughts on the forum.
- Green (+DI) ADX line must be above the Red (-DI) ADX line
- EMA 4 must cross above EMA 10
- MACD must be above the zero level
- Red (-DI) ADX line must be above the Green (+DI) ADX line
- EMA 4 must cross below EMA 10
- MACD must be below the zero level