Easy Pips Machine Strategy For MT4
Table Of Contents:
- Easy Pips Machine Strategy For MT4
- The Easy Pips Machine Strategy For MT4 – Long positions
- The Easy Pips Machine Strategy For MT4 – Short positions
- Is the Easy Pips Machine Strategy For MT4 profitable?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Easy Pips Machine Strategy For MT4 is a short-term scalping system which is based on a trend following concept. This trading system is ideally suited for trading on the 15-minute chart or lower time frames. The outside the easy pips machine strategy is fairly simple in its construction. There are only two indicators that are used in this trading system.
The first indicator is called the learn forex live indicator. This is a modified indicator that makes use of three simple moving average indicators. The settings according to this indicator are 30, 50, 100. These are nothing but three periods of simple moving average indicators. This modified custom indicator also has additional settings such as setting the targets. Here the targets can be set from a level of one through 6. These target lines are basically shown in the Gray dashed line that you see on the price chart.
The next indicator that we see on the easy pips machine strategy is called the trend filter indicator. However, as you can see from the template this indicator does not seem to do anything much. Therefore, it seems like the easy pips machine strategy is rather incomplete in its construction. At the end, what you're left with are just three simple moving averages. This makes it no different from a regular trading strategy.
Looking at the indicators that are used in the easy pips machine trading strategy we can deduce that you can use this trading system on just about any time frame of your choice. The only difference is that if you chose a smaller time frame chart, then you're trading holding period will probably last for a day or two if you are following the trend. But, if you want to use this trading template on higher chart timeframes then you would be swing trading with this strategy.
One of the things to caution the readers about using this trading strategy is the fact that it clearly lacks other indicators therefore traders need to approach with caution on how they wish to use this trading system. However, if you want to practice trend trading then this is a very simple trading system to begin with. There are no guarantees that the take profit level will always be reached. As a result, there is a bit of discretion that comes when trading with this trading system.
The Easy Pips Machine Strategy For MT4 – Long positions
To take long positions using the easy pips machine strategy we first need to identify that the market is moving from a downtrend to an uptrend. This can be identified by the two shorter term moving averages trading below the main moving average depicted in the blue color. Following this wait for price to move above the shorter term moving averages. Around this time, you will see that these lines will begin to turn into solid lines.
Once you have identified the above setup the next thing you need to do is to wait for price action to close above the longer period moving average also denoted by the blue line. Once price action crosses above this level you can take a long position at market. Identify the previous swing low and set your stop loss to this level. For take profit you can either use the grey lines as your target levels or you can either make use of a fixed risk to reward ratio.
The Easy Pips Machine Strategy For MT4 – Short positions
To take short positions using the easy pips machine strategy, we first need to identify that the market is moving from an uptrend to a downtrend. This can be identified by the two shorter term moving averages trading above the main moving average depicted in the blue color. Following this wait for price to move below the shorter term moving averages. You will also notice that the short term moving averages are now trading below the long term moving average as well. Around this time, you will see that these lines will begin to turn into solid lines.
Once you have identified the above setup the next thing you need to do is to wait for price action to close below the longer period moving average also denoted by the blue line. Once price action crosses below this level you can take a short position at market. Identify the previous swing high and set your stop loss to this level. For take profit you can either use the grey lines as your target levels or you can either make use of a fixed risk to reward ratio.
Is the Easy Pips Machine Strategy For MT4 profitable?
In conclusion, the easy pips machine strategy for empty 4 does not quite impress. It basically makes use of some of the regularly available standard indicators and offers a customized view of the same. In short, the easy peeps machine strategy is a simple trend following trading system with a couple of modifications. As a result, there is nothing new that comes from this trading system and you don't really quite get an edge in the markets.
The easy pips machine strategy although ideally suited for trading in the short term can also be extended to be used as a swing trading strategy. One of the main things that is missing from this grading system is the fact that there are no oscillators that are used. Any trader would know that an oscillator is important especially when trading with moving averages. This is because oscillators are useful in understanding the timing of entry and exit for the trades. However, having said the above the easy pips machine strategy is a fairly simple system which can further be customized depending on your level of expertise.
The template that comes with the easy pips machine strategy is also fairly lightweight. There for you can use this template to monitor multiple instruments at the same time. This trading strategy can be easily used by both beginners as well as experienced traders.
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