Papaya Forex Strategy MT4 For MT4

Papaya Forex Strategy MT4 For MT4

The Papaya Forex Strategy MT4 For MT4 is a momentum-based trend reversal strategy based on the Relative Strength Index (RSI) Indicator and its relative zones/levels. In this strategy, the Relative Strength Index (RSI) indicator is used along with in total of 15 Exponential Moving Averages and a custom Beast Super Signal indicator to produce optimum signals for trend reversals.

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The Papaya Forex Strategy MT4 For MT4 is a very flexible strategy that can be traded at any time frames and on all forex pairs including GOLD and SILVER. It is thus best suited to all kinds of forex traders be they scalpers, day traders, swing traders, or even positional traders.

Let's have a look at the Indicators used in the formation of the Papaya Forex Strategy MT4 For MT4 that helps in giving high probability trend reversal signals:

EMA (3): It is a 3-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the dodger blue color line.

EMA (5): It is a 5-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the yellow color line.

EMA (7): It is a 7-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the yellow color line.

EMA (9): It is a 9-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the yellow color line.

EMA (11): It is an 11-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the yellow color line.

EMA (13): It is a 13-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the yellow color line.

EMA (21): It is a 21-period Exponential Moving Average applied to close price. It is plotted directly on the chart in the form of the black color line.

Beast Super Signal Indicator: It is a custom-made, signal-based indicator that gives buy and sell signals in form of green and red color arrows which are plotted directly on the chart.

RSI(14) Indicator: It uses a standard Relative Strength Indicator (RSI) with a 14-period applied to close price. It is plotted on the chart in a separate window. But this strategy doesn't focus on the RSI value or RSI signal line. The RSI signal line is purposefully made hidden so that we don't get distracted or confused. Instead, the strategy focuses mainly on the RSI zones/levels since the following 8 Exponential Moving Averages are added into the same RSI (14) Indicator window to create a unique indicator which is surely not a standard RSI indicator.

The following 8 Exponential Moving Averages are been added into the same RSI (14) Indicator:

EMA (3), EMA (5), EMA (7), EMA (9), EMA (11), EMA (13), EMA (15), and EMA (30). The EMA (3) is plotted in the form of a dodger blue color line while from EMA (5) to EMA (15) all are plotted in the form of the magenta color lines. The EMA (30) is plotted in the form of a black color line.

Different zones/levels used in the RSI (14) Indicator:

90 - Resistance (Extreme Sell) zone/level marked with red color.
70 - Strong Sell zone/level.
60 - Sell zone/level.
50 - Wait zone/level.
40 - Buy zone/level.
30 - Strong Buy zone/level.
10 - Support (Extreme Buy) zone/level marked with green color.

Out of these all above zones/levels the strategy focuses mainly on Resistance (Extreme Sell) 90 zone/level and on Support (Extreme Buy) 10 zone/level. While all others are just there to indicate at which level the price is currently moving.

Let's take a look now at how the Papaya Forex Strategy MT4 For MT4 uses the above-stated indicators in combination to generate some strong trend reversal signals.


The Papaya Forex Strategy MT4 For MT4 - Long Positions (Buy Trades)




For Long Positions, when in RSI (14) Indicator all 8 Exponential Moving Averages meet at the Support (Extreme Buy) level 10 or fall below the Support (Extreme Buy) level 10, which is marked in green color. And, when the all 7 EMAs from period 3 to 15 cross the black EMA (30) to the upside then a long/buy signal is generated.

Apart from this, we should have a green color arrow appear before the RSI (14) signal, i.e a buy/long signal should be generated prior to the buy/long signal given by the RSI (14) indicator.

And lately, we should have the price on the chart moving above all 7 EMAs from period 3 to 21. To trigger a buy/long trade.

For EXIT:

Book Profit when the EMAs inside the RSI (14) indicator reaches the Resistance (Extreme Sell) level 90 (Preferred Exit).

Set predetermined take profit level based on a 1:2 risk:reward ratio.

Initial stop loss below the previous swing low.


The Papaya Forex Strategy MT4 For MT4 - Short Positions (Sell Trades)




For Short Positions, when in RSI (14) Indicator all 8 Exponential Moving Averages meet at the Resistance (Extreme Sell) level 90 or rise above the Resistance (Extreme Sell) level 90, which is marked in red color. And, when the all 7 EMAs from period 3 to 15 cross the black EMA (30) to the downside then a short/sell signal is generated.

Apart from this, we should have a red color arrow appear before the RSI (14) signal, i.e a sell/short signal should be generated prior to the sell/short signal given by the RSI (14) indicator.

And lately, we should have the price on the chart moving below all 7 EMAs from period 3 to 21. To trigger a sell/short trade.

For EXIT:

Book Profit when the EMAs inside the RSI (14) indicator reaches the Support (Extreme Buy) level 10 (Preferred Exit).

Set predetermined take profit level based on a 1:2 risk:reward ratio.

Initial stop loss above the previous swing high.


The Papaya Forex Strategy MT4 For MT4 Conclusion



The Papaya Forex Strategy MT4 For MT4 is a very interesting, easy to follow trend reversal strategy that has the potential of generating high probability trend reversal signals that can give a very high risk:reward ratio of about 1:2, 1:5, 1:10, or sometimes even more. Which is an unbelievable return to the risk a trader takes on a given signal and this one advantage is more than enough for all traders to give this trading strategy a try and start trading the trend reversal using the Papaya Forex Strategy MT4 For MT4 effectively like an advanced trader.

Given the above advantages, we highly recommend using the Papaya Forex Strategy MT4 For MT4.

Download the complete system description and the files here:

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Download the FREE Papaya Forex Strategy MT4 for MT4.

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