The BP Trading System represents a fusion of moving averages and MT4 trend indicators. It helps forex and stock traders detect real-time trend-following signals in live markets.
The crossover between 7 and 20-period Exponential Moving Averages (EMA) gives you a brief insight into the current market trend. Moreover, they also work as dynamic support/resistances.
Besides EMAs, the system also relies on FMI Meter and RSI Filtered trend oscillators delivering perfect ideas about the price momentums and trend directions.
Once the EMAs plot a crossover, apply the oscillator’s signals for adding more confirmations to your entry. Moreover, this system includes the Daily Candle indicator that displays the current daily price bar bringing more ideas about potential trading levels.
Buy Signal Generation with BP Trading System
During uptrends, the 7 EMA will be flying above 20 EMA, plotting bullish crossovers. Once you get the crossover confirmation, verify it with the trend oscillator of the system.
You’ll find the MFI bars in green color during bullish market momentums. Also, the RSI Filtered bars appear above zero level, signaling the bullish trend confirmation. Exit long when the MFI Meter plots red bars, and the RSI Filtered value turns negative.
Sell Signal Generation with BP Trading System
Look for sell opportunities when the 7 EMA falls below the 20 EMA level. Trigger sell entries whenever the MFI Meter bar turns red, and the RSI Filtered bars drops below zero-line simultaneously.
Consider exiting the sell order whenever the trend oscillators start signaling an upcoming bullish trend.
Check Out: Standard Account vs ECN Account – What’s the Difference?
If you prefer trend-following trading strategies, the BP Trading System can be a perfect addition to your MT4 systems. This trading system is equally effective for both forex currencies and stock trading.
The moving average crossovers are very easy to spot. Moreover, both MFI Meter and RSI Filtered plots accessible trend signals so that beginners can also make the best trading decisions besides expert professionals.