MA100 & EMA Ribbon
In this strategy, we are trading using 2 indicators on the hourly timeframe.
- MA100 is a 100-hour moving average and acts as a local trend determinant.
- EMA Ribbon is a grid of several exponential moving averages that acts as a signal indicator to determine the entry point.
The settings below can be applied and used on several platforms but we chose tradingview here.
Open the indicator settings and enter 100 in the Length line.
2. EMA Ribbon
Open the indicator settings and change the MA-1 colour to green or whatever colour you like better. It is important to see it when studying the graph.
Applying the indicators
We follow the EMA Ribbon green line crossing the MA100 blue line. The price chart in this case is above MA 100, which is a local uptrend. This condition is a signal for us to enter the deal.
With the help of previous hourly price highs, we set our trade targets. In this case, we see 3 of them. Upon reaching the first target, we close 50% of the position; upon reaching the second goal, we close 50% of the remaining position; on 3 targets we fix our positions by 100%.
In this strategy, we have worked with trading on the hourly timeframe using two indicators, MA100 and EMA Ribbon.
MA100 is used to determine the local trend, and the EMA Ribbon is used to determine the entry point into the deal, so we’ve reviewed the settings of both indicators and the conditions for doing or not doing so. Besides, we set profit and exit targets using previous hourly highs in price.
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