Hi
This version good results This is purely mechanical AND RESULTS CAN BE IMPROVED WITH MANUAL TRADING USING DIVERGENCE INDICATOR,INTEREST RATE BIAS ,SUPPORT AND RESISTANCE AND USE OF WEEKLY AND DAILY CHARTS
5 min charts
euro/usd
Stop 55 take profit 125
Entry:Long positions: Lwma 5 must be greater than lwma 20 , and both lwma 5 and lwma 20 must be greater than lwma 100,and lwma 5,20 and 100 must be greater than lwma 200 , and lwma 5,20,100and 200 must be greater than lwma 400
Short position: opposite set up of long entry
Add a second position if price retraces ie for long price drops 30 pips and for shorts price rises 30 pips
Trailing stop 70
Filter:The above system is presented with a 20 pips filter to entry price .Example if long entry m/a set ups in place at 1.4000 long entry level is 1.4020 and if shorts set up short entry is at 1.3980.Without this filter the m/a systems are losers
Like all strategies manual traders can use their own judgement and get better results.This strategy can be combined with channels and support and resistance on different times frames ie 1 hour ,4 hour and weekly.
Use a Divergence indicator (or chart patterns)for better results
Many indicators tend to imitate the peaks and troughs on the price chart with a series of similar highs and lows. Divergence occurs when the indicator fails to imitate the pattern on the price chart, a sign of trend weakness and likely reversal.
In an up-trend, if price makes a new High (a higher peak than the last) but the indicator fails to do so, that is a bearish divergence.
In a down-trend, if price makes a new Low (a lower trough than the last) but the indicator does not, a bullish divergence occurs.
Stochastics giving a divergence at end of a trend .Some divergence indicators explained with videos.
YouTube - Optimizing Stochastics for Forex and Futures Trading
YouTube - FOREX Price Indicators Can Steer You In The Right Direction
YouTube - 23. How to Trade Stochastics Like the Pro's Do
YouTube - Q&A - What Would Override Stochastics on the Daily Chart?
YouTube - Broadcast Yourself.
YouTube - Broadcast Yourself.
Use any volatility breakout indicator to confirm a trend or any trend confirmation indicator like Waddah attar.Just set up a second chart on 1 m with 10 lwmas or something similiar ie lwma 5,10,20,30,40,50,60,70,80,90 and u have an indicator telling where there is a trend
Use with expected changes in interest rates and the system is likely to perform better
Results posted are mechanical strategy without manual intervention and without using a divergence indicator.Here are some better results for the above strategy
If u see the image it catches trends
OILFXPRO
Hi
One should not confuse this system with the 5EMAS forex system which is a different system.I do not know anything about it except the following U tube video
YouTube - Easy Forex Strategy
OILFXPRO