The origins of razor-sharp are found in a thread http://www.forexfactory.com/showthread.php?t=172963
started by http://www.forexfactory.com/tony_dtrader
which appears to have been abandoned for a little over a year.
We have been trading the system for a week or so and posting results in the discussions forum
http://www.forexfactory.com/showpost...9&postcount=68
The results have been very good on demo and we are taking the system to micro and wanted to post activity in the trading systems forum since trader feed back and innovative ideas are very valuable for becoming more and more proficient in the great art and science of trading forex.
The system is a very simple scalping strategy. Using the 60m candle formations we look for a continuation candle. If the new candle moves 5 pips in the continuation direction we enter in that direction. I like to follow the action on the 1m and 5m.
Bull candle closes, new candle moves 5 pips up enter long.
Bear candle closes, new candle moves 5 pips down enter short.
10 pip stop, 25 pip tgt. Nice r/r.
To make things as easy as possible there is an indicator:
http://www.forexfactory.com/attachme...02009%202:08pm
coded by http://www.forexfactory.com/fxxx
which signals entries, exits and targets.
I also consult macd (21,100,9), 200ema, wood pivots and s/r, market times, trend lines, fibos, etc. for confirmations.
Most signals are good. Some are obviously not good to take.
The zip has what I use for my main template. I am partial to heiken-ashi but also consult candlesticks.
The candlestick chart is the 1 hour showing the 2 candle set up.
The second chart is what I like to follow on the 1m and 5m.
Take what you can use and leave the rest...