FanSimple8 Indicator applies multiple moving averages for identifying the market trends and determining the crossover entries.
FanSimple8 Indicator applies a set of 3 moving averages with different parameters. Its 55-day moving average is used for determining the intraday market trends. Therefore, the price must be closed above the 55 MA for long entries and should remain below the 55 MA for short entries. For entry confirmation, we need to look for its crossover signals between 5 and 21 MA.
- Price candle closes above the 55 MA level
- 5 MA moves above the 21 MA
- Set stop loss below the current 55 MA level
- Exit long whenever 5 MA moves below the 21 MA
- Price candle closes below the 55 MA level
- 21 MA moves above the 5 MA
- Set stop loss above the current 55 MA level
- Exit short whenever 21 MA moves below the 5 MA
It fits all kinds of timeframes and currency pairs.