Cowabunga Trading System MT4

Cowabunga Trading System MT4 is a trend followng system trading comes with the combination of multiple Exponential Moving Averages and momentum based indicators. This system has been producing trading signals with higher probabilities over the year. Now this system is being admired many traders from newbie to professionals across the market.

Cowabunga Trading System states the trend status is a very important way so that traders from all levels can be benefited while trading in the market. It will be able to apply on any currency pair window with a perfect match to all kind of time frame charts.

After the installation of this system at MT4 terminal, the main chart should be like following image.

Cowabunga Trading System MT4

INDICATORS

5 & 10 EMAs

These are 5 and 10 period Exponential Movig averages which produces crossover signals, where if 5 EMA crosses above 10 EMA signals the bullish but if 10 EMA crosses above 5 EMA signals the bearish crossover.

Stochastic Oscillator

This is one of the popular momentum indicator, its value near 80 level indicates overbought condition and near 20 level states oversold condition of the market.

OsMA

Indicates the trend strenght with its histogram bars located below the main chart. Its value above zero signals the bullish strength and a negative value represents the bearish strenght.

Relative Strength Index (RSI)

Relative Strength Index is a well known trend based indicator around the market. It uses its index level to show the possible trend direction changes. Its value below 30 level signals the oversold condition of the market and if reaches above 70 level then indicates the overbought condition of the market.

Cowabunga Trading System MT4 indicators

RULE of Cowabunga Trading System MT4

BUY Entry

• 5 EMA crosses above the 10 EMA signals bullish crossover
• The bullish bar closes above the EMA levels
• Stochastic Oscillator jumps upwards from 20 level
• OsMA represents positive value
• RSI moving upward and supported by its 30 level
• Open Buy when the parameters above are met.
• Stop loss below the EMA levels or the respective signaling bar low
• Exit Buy whenever EMAs plots the bearish crossover and Stochastic Oscillator or RSI reaches overbought levels.

Cowabunga Trading System MT4 in Buy condition

SELL Entry

• 5 EMA crosses below the 10 EMA plotting bearish crossover
• The signaling bearish bar closes below the EMA levels
• Stochastic Oscillator bounces downwards from 80 level
• OsMA represents negative value
• RSI moving downward and resisted from 70 level
• Open Sell when the parameters above are met
• Stop loss above the EMA levels or the respective signaling bar high
• Exit Sell whenever EMAs plots the bullish crossover and Stochastic Oscillator or RSI reaches oversold levels.

Cowabunga Trading System MT4 in Sell condition

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