Best forex indicator mt4

another pair today I've already as you tested this strategy on pound dollar and it didn't work out very well if you want to see that there I'll put the links to that in the description below but this series I'm looking at another pair I'm actually going to look at dollar yen now just to see how the strategy works and or if it was going to work on dollar yen so those of you haven't seen the first video as always first of all let's go over the rules of the strategy so what we're looking at is for our chart and so we've got our chart for our bars we apply a 30 am I look at the 30 exponential moving average now to go long now the the rules to go long and short are completely just just the opposite so to go long we're looking for the bar to be above the 30 period moving average so whole bar hold the body above the average just like that and then we're looking for an outside bar this is gonna be kind of the triggering bar now an outside bar is a bar like this where the body is outside of the body of the previous bar so the high is higher than the previous bars high and the low is lower than the previous bar is low that's your outside bar and one last condition is an up close so the close of the bar is higher than where the bar opened we could quite easily have ever had the opposite and still meet all those conditions but those three conditions above the EMA and up close and of course an outside bar when we see all those conditions at the close of this bar we literally just buy so buy at the start of the the new bar the new bar the star at the new bar at the open of the new bar is gonna be the same as the clothes at the old bar unless it could be the first bar of the week and then there's a gap because we're looking at Forex and as you know 24-hour markets so Eva by just as that bars closing or by just as the next one's opening it's that simple so they're the rules like I said this is a long and a short strategy so opposite for the short we're looking for an outside bar again that's the same but we're looking for the bar to be below the whole bar to be below the 30 EMA and we're looking for a Down clothes not on up close and as soon as we say that we short we go short and at the moment we haven't got any specific exit criteria I'm gonna play around with that I'm gonna look at profit targets obviously a stop loss but we're gonna look at a variation of different profit targets and perhaps some timed exits just to see how things work out but usually if the entry signal gives a strong half age then most stuff is going to work but that's for us to find out so this is the first part we go to the computer now and get stuck in start looking at maybe some time period of time windows the day where we want to take these trades so let's go over the computer and we'll get started here