Using daily timeframe can filter many false signal.... in lower timeframe.. nice strategy...
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DislikedWhen we put these indicators on our MT4, do we have to make any changes to the settings. Also, how do you apply the template in MT4??? HELP! LOST IN THE FOREX WORLD!Ignored
DislikedI demo'd this. I bought at the 60 minute cross up around 9 pm eastern time. I added 5 pips to the high of the bar where the ema's crossed and set my entry there. I placed a profit target at 50% of the ATR from the 4 hour chart which was 25 pips. It hit while I was sleeping. First attempt looks promising.Ignored
DislikedSure Bro,
You have MT4 charts right??? Well i just check what the ATR says on the 4H and use that price.
Right now the ATR on 4H for EURUSD is .0037 so my SL would be 37pips since the EURUSD is 1.xxxx
Understand?Ignored
DislikedHey, whats up everybody. I understand how the ATR applies for the EURUSD as illustrated in the example above, but I don't know how it should be for the GBPJPY. Could some please give an example. Thank you so much.Ignored
DislikedFor this pair and this pair only I normally divide the ATR by 2.
Right now the ATR on the 4HR reads as 1.13.
that would be 113 pips divide by 2 = 56pips as my SL on the Hourly.
Hope that helpsIgnored
DislikedBam Bam,
It's your system, but I would suggest using the whole 4HR ATR as the stop for G/J. If it's a good stop for the rest of the pairs, it would be a good stop for this pair.
If it looks too high, just use half the position size.
If halving the 4HR ATR works for guppy, it will work for every other pair. IMOIgnored
DislikedFor this pair and this pair only I normally divide the ATR by 2.
Right now the ATR on the 4HR reads as 1.13.
that would be 113 pips divide by 2 = 56pips as my SL on the Hourly.
Hope that helpsIgnored
DislikedThanks Buddy,
That solved my problem. Are you still watching for the cross on your exit or have you been using the ATR divided by 2 for your TP.Ignored
DislikedI have been watching for the cross or where I am happy with my gain. This is working for me as I am able to monitor the charts while I am at my day job. Mostly use the ATR just for SLIgnored
DislikedI was also going to ask you, does it matter if the crossing is above or below the 50 sma on the 1 Hour Chart. Or does the 50 sma only apply to the daily.
Ex.
Daily chart 5 ema above 50 sma
1 Hour chart 5 ema crosses up above 13 ema but both ma's are below the 50
*Would you still take this trade. ThanksIgnored
DislikedHi All
Have you backtested this system? Be careful because it doesn't work when when trading ALL signals. Knowing which signals to trade is difficult, even for the pros and that's why most systems require that you trade all signals.
The crossing moving average system only works when the commodity is strongly trending which is a fraction of the time. Most of the time the commodity churns with unpredictable volatility so trading this system will chew up your capital with losses faster than light.
Notice how most of the examples people show you for the crossing moving average system are cherry picked? Back-test your system and see what happens... it's quite revealing and amusing.
Remember that moving averages reflect historical price averages and have no predictive value on value or price.... Most of the time, when the crossing moving averages give you a signal, the trend is over and you'll be entering a trade too late. These situations by far outweigh the cherry picked examples often shown to support systems.
Another point... moving averages only tell you about price which is the last thing to change about a commodity. Perception of value changes first and then price. Any system you use should first detect value and not price.
As an experiment and just for fun, buy when the system indicates sell and sell when the system indicates buy. You will find that most of the non-trending trades will win but you'll loose on the strongly trending trades. This is evidence that moving averages are delayed and moving average cross overs are late indicators.
You might get a few wins but long term you will loose. Sorry to burst your bubble. Be careful out there.
TrevAIgnored