Simplicity Indicator V4 MT4

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Simplicity Indicator V4 MT4 Strategy

Overview

The Simplicity Indicator V4 is designed for MetaTrader 4 (MT4) and aims to simplify trading decisions. It combines a simple moving average (SMA) with an ATR-based money management system. Let’s delve into the key features and strategy details.

Key Features

1. Simple Moving Average (SMA): The indicator uses a basic SMA to identify trend direction.
2. ATR-Based Money Management: It incorporates Average True Range (ATR) to manage risk and set profit targets.

Strategy

The strategy revolves around straightforward rules:

1. Entry Signal:
   • Buy when a candle closes above the SMA.
   • Sell when a candle closes below the SMA.
2. Take Profit (TP):
   • Set the first TP level at 1 ATR (Average True Range).
   • This helps capture profits while considering market volatility.
3. Stop Loss (SL):
   • Initially, set the SL at 1.5 to 1 ATR.
   • Adjust the SL as the trade progresses.

Minimum Deposit

• To trade using the Simplicity Indicator V4, consider a minimum deposit of your preferred account currency.
• While there’s no fixed amount, ensure you have sufficient capital to manage risk effectively.

Trading Parameters

• Timeframe: H1 (1-hour chart)
• Currency Pair: XAUUSD (Gold/US Dollar)