The Dolly Forex System represents a trend-following day/intraday trading strategy for MT4 platforms. It comprises a set of fast and slow EMAs alongside the latest MACD and Stochastic indicators for generating accurate buy-sell signals.
This indicator also includes MA2Signal arrows that indicate price breakouts at the dynamic support/resistance levels determined by multiple exponential moving averages.
Apart from trend indicators, this MT4 system includes additional technical tools like price-level summaries and market session clocks. The session clock allows you to plan your market watch hours. On the other hand, the price level summary gives you real-time updates on the latest price actions at key price levels.
This guide explains how to trade in the market using the Dolly Forex System in MetaTrader 4 platforms, including chart examples.
The fast EMA (blue) turns above the slow EMA (red/green) to plot a bullish crossover, indicating an uptrend market. The price moves above all the EMAs, and the indicator plots a yellow arrow below the price during a bullish market trend signals a buy entry.
For additional confirmation, you may wait until the GMACD and DIGISTOCH signal a bullish trend in your preferred timeframes.
Once you go long, hold the position until the price remains above the fast EMAs. Consider an exit immediately after the price breaks below the EMA support.
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Look to go short when the fast EMA drops below the slow EMA. Once the indicator confirms a bearish trend, activate the sell entry once the price drops below all the moving averages, and the MA2Signal plots a white arrow above the price candle.
Once you enter short, place an SL limit above the slow EMA zone and consider an exit right after the price exceeds the fast EMA levels.
For greater results, look for fresh buy-sell signals during the starting periods of the London and New York Sessions. You can follow the market session clock of the indicator for further assistance.