The Simple Simon Forex System combines two different types of moving averages and a trade alert arrow indicator. It includes SS Short Term Trend – a fast-moving average that is quite sensitive to price action changes.
Besides, its early alert arrow tool serves advance signals of the upcoming market trend direction.
The system plots crossovers in between the SS Short Term Trend and the 5-period Exponential Moving Average(EMA).
Interestingly, it generates an early trend-alert signal before a crossover occurs. So, you can always remain alert during each potential crossovers between the moving averages.
Buy Signal Generation with Simple Simon Forex System
A white arrow below the price candle hints at an upcoming bullish market trend. We consider it as an early buy-alert.
Once we have an early alert, we need to wait and see if the crossover matches the arrow signal.
The 5-EMA moves above the SS Short Term Trend level to signal a bullish crossover. Execute a buy order when you get a white arrow and a bullish crossover signal in a row.
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Sell Signal Generation with Simple Simon Forex System
According to the above example, the red arrow above the candle shows an early signal of a bearish market trend.
Right after the system plots the early trend alert, the price starts moving downwards and breaking the dynamic supports of the moving averages.
Next, the 5-EMA moves below the SS Short-term Trend level confirming a sell order following the bearish crossover.
The Simple Simon Forex System is a very simple forex trading strategy compared to other trend-based MT4 systems.
The crossover between the EMA and SS Short-term Trend works well in defining precise buy-sell signals.
Moreover, the early alert tool keeps you awake during sensitive periods in the market.
In a word, the Simple Simon Forex System is an ideal MT4 tool for anticipating trend-based forex trading opportunities.