SMA or Simple Moving Average is one of the most popular technical analysis tools. You can use this indicator to identify the possible trends. This indicator is also best suited for beginners and is very easy to work with.
How to find and set Simple Moving Average on Quotex?
=> Firstly you need a Quotex account. In case you don’t have one click here… … … ..
=> Once you have signed up. You next need to click on the indicator button and select the moving average from the same.
=>Now select SMA from the drop menu. You can also change the colour of the indicator line and you darken it for better results.
How to trade?
There are two ways of trading with SMA one with Single SMA and there with double SMA. Now if you are wondering which method I should go with then I would suggest you trade with double one as according to experts double SMA is considered more accurate for your information. I will share both the methods.
Use price action in Single SMA
While using a single SMA you need to focus on the intersection of price and the moving average line. When the price intersects the line with the uptrend and stays above the line is the signal of a bullish trend and here you can buy trade.
Similarly you need to place sell trade as the price or candle intersects the line and stay below the line.
Up with green and down with red
While using double SMA you need to check the intersection of two SMA lines.
To configure two SMA just follow the steps I discussed and set SMA twice. Next, set the time period of the first SMA to 15 and the other to 32.
Now in order to predict market movement using two SMA lines you need to remember the golden rule.
=> When the SMA 15 intersects the SMA 32 and SMA 15 is in domination or is above the same. It signals a bullish trend and you can place up trend.
=>And when you see that the SMA 32 intersects the SMA 15 and SMA 32 is in domination or is below the same. It signals a bearish trend and you can place down trend.
I hope you have understood the concept. Try this strategy and a Quotex Demo account join today and $10,000.