I have been studying MACD on Hourly Chart for some years now,
But only recently developed two systems, One I am posting here for the FF community and for the other I will post the Weekly signal on another thread in this forum.
I would love to get feedback on this, Is this a common strategy ? Or is it unique? Has anyone done this before ? How much can I expect to make in the long run ..?
Any improvements to this ? Suggestions are highly welcome!
Setup -
Hourly Chart
GBPUSD
MACD ( See attached file for settings 12, 26, 9)
Here is the System ,
I only look for reversals in price , That is If the trend is UP then I will wait and enter in a Sell Signal for this System . If the trend is down then I will enter in a Buy Signal only.
Buy Signal : MACD Fast crosses over MACD Signal
Sell Signal : MACD Signal Line Crosses over MACD Fast Line
What to look out for!
First :
We need a confirmation in the form of a One hour Bull candle after the Buy Signal. In case of a sell Signal we look for a Bear candle after the crossover.
Second:
We need to make sure that the Crossover is valid ( That MACD Fast is above MACD Signal for a Buy Signal and MACD Signal Line is Above MACD Fast Line for a Sell Signal . )
Third:
We need to enter the trade at the close of the candle which confirms the Signal.
Two ways to trade this system
A) Take Profit Limit 30Pips , Stop loss of 125 Pips
B) No Profit Limit / No stop Loss for those with high risk appetite
Fourth :
We mandatory close all trades at the end of six hourly candles If trade is still open.
I have attached a chart with Type B Trade ! Please feel free to reply and post comments / suggestions/ critique ( healthy ) .
Regards,
FxPundit
But only recently developed two systems, One I am posting here for the FF community and for the other I will post the Weekly signal on another thread in this forum.
I would love to get feedback on this, Is this a common strategy ? Or is it unique? Has anyone done this before ? How much can I expect to make in the long run ..?
Any improvements to this ? Suggestions are highly welcome!
Setup -
Hourly Chart
GBPUSD
MACD ( See attached file for settings 12, 26, 9)
Here is the System ,
I only look for reversals in price , That is If the trend is UP then I will wait and enter in a Sell Signal for this System . If the trend is down then I will enter in a Buy Signal only.
Buy Signal : MACD Fast crosses over MACD Signal
Sell Signal : MACD Signal Line Crosses over MACD Fast Line
What to look out for!
First :
We need a confirmation in the form of a One hour Bull candle after the Buy Signal. In case of a sell Signal we look for a Bear candle after the crossover.
Second:
We need to make sure that the Crossover is valid ( That MACD Fast is above MACD Signal for a Buy Signal and MACD Signal Line is Above MACD Fast Line for a Sell Signal . )
Third:
We need to enter the trade at the close of the candle which confirms the Signal.
Two ways to trade this system
A) Take Profit Limit 30Pips , Stop loss of 125 Pips
B) No Profit Limit / No stop Loss for those with high risk appetite
Fourth :
We mandatory close all trades at the end of six hourly candles If trade is still open.
I have attached a chart with Type B Trade ! Please feel free to reply and post comments / suggestions/ critique ( healthy ) .
Regards,
FxPundit
BCom, MS, MBA, CPA