Just thought I'd share a simply yet effective strategy I have been using for some time trading gold and silver now.
This system has proven to be effective when looking at trending markets, we should always exercise some risk and money management principles.
The idea is not to have the strategy overly complicated.
Do with it as you please, modify it or even look at back testing. The idea though is to keep it as simplified. Play with it on the demo for some time and go live when when you are ready and happy with it within the confines and realities of trading.
This is no holy grail system. If that's what you're looking for then please give this a miss. This system will offer a high probability ratio and in most instances there will be more winners then there are loosers.
1. 15 EMA applied to the close.
2. 30 EMA applied to the open.
We look to buy:
On 4hourly or 1hourly chart 15 EMA crosses above 30 EMA
Candlestick/price gets close to 15 EMA.
Drop to 15min chart, when price near 15 EMA on 15M chart we buy.
SL a couple of pips away from swing low on 4h/1H
We look to sell:
On 4hourly or 1 hourly chart 15 EMA crosses below 30 EMA
Candlestick/price is close to 15 EMA.
Drop to 15min chart, when price near 15 EMA on 15M chart we sell
SL a couple of pips away from swing high on 4h/1h.
Note. In line with good money management, close half position and move SL to BE once price has moved in our direction. Or use a trail stop to protect some profit.
Note. If you're using it on the 1 hour chart you will get more setups compared to the 4h hourly chart, less DD but requires more screen time.
4 hourly chart will give less entries and some DD but less trade intensive.
When the EMA' are flat, Stay out.
Simple yet effective.
Thanks for sharing MzansiObi!
I'm curious, what do you do to differentiate between trending and non-trending markets for this strategy?
I like simple strategies, and it's tough to get more simple than this. May try automate this and chuck it on a demo, see how it does.
Thank you for sharing!
Yeah by all means automate it and let us know.
If we can get an early going and have it running on those time frames it may be worth a shot.
Will try and post more charts and setups as of next week.
The key thing here though is patience and money management.
Charts and visuals to follow soon.
If you guys have questions please feel free to upload charts and or possible setups will respond
Due to its correlation with Gold.
Open up your EU chart,zoom out and look at the h1 and 4 hr charts respectively. Well worth the try on EU aswell.
Again money and risk management very key.
I had a bit of time, so I hope you don't mind:
++ Set the timeframe to what you want
++ You can load the indie more than once for the H1/H4 respectively
++ Set Colors/Lines to what you want
Sample Chart: M15, setting to H4
That's good. Will load it up and put to use.
Will it give alerts aswel?
Backtest: None based on your rule set. However, visually appealing and viewing it with interest as you are the master of it. I do not trade MA's, but open to ideas.
Thanks M for the strat and d for the indi. I will try to run it and report.
Cause if it's giving signal on 15 Min chart it may give some false signals if price on 1hour and 4 hour chart hasn't reached or come close to the 15 Min ema..
Take your time. Bo rush at all. Merely wanted to understand what the coding has been done.
The hourly chart gave a great entry signal 5 hours ago.
I'm also on tye road and travelling. Should be back home tonight and will begin posting more charts and examples so that anyone else that needs visual representation of the setup can be assisted with it.
Moenie te veel brandy n coke drink Nie.
Nice gold last night..... I am sure you've got it!!!
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