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34 EMA Trading Strategy for newbie's :)

  • #61
  • May 16, 2008 12:51am May 16, 2008 12:51am
Short Signal M30 and H1
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  • #62
  • May 16, 2008 1:52am May 16, 2008 1:52am
VagyokC4: Excellent system and easy to follow for beginners. Nice work.

Since your indicators are e-signal based I just had a few questions.

Criss cross: I take it that this one goes orange when the price goes below the lower band and blue when it goes above the upper band, correct?

Trend: Just shows whether the general trend is up or down based on the moving average correct?

The other indicators you have showing on the bottom, what are the settings for those (MACD and CCI).

Coding these as metatrader indicators shouldn't be too difficult. If I can get enough information I may take some time this weekend and build them for those of us who don't use e-signal.
  • #63
  • May 16, 2008 2:02am May 16, 2008 2:02am
Quoting magnumfreak
VagyokC4: Excellent system and easy to follow for beginners. Nice work.

Since your indicators are e-signal based I just had a few questions.

Criss cross: I take it that this one goes orange when the price goes below the lower band and blue when it goes above the upper band, correct?

Trend: Just shows whether the general trend is up or down based on the moving average correct?

The other indicators you have showing on the bottom, what are the settings for those (MACD and CCI).

Coding these as metatrader indicators shouldn't be too difficult. If I can get enough information I may take some time this weekend and build them for those of us who don't use e-signal.
Great!

Basically the TREND is taking the ANGLE (look back three bars) of the 34 EMA (HLC/3)... >0 is UP and <= 0 is DOWN

CRISS-CROSS is UP when OPEN is < TOP EMA, and CLOSE > TOP EMA...
CRISS-CROSS is DOWN when OPEN is > BOTTOM EMA, and CLOSE < BOTTOM EMA...

CCI-SIGNAL is UP when > +100 and is DOWN < -100

MACD SIGNAL is UP when > 0 and DOWN when <= 0
  • #64
  • May 16, 2008 2:36am May 16, 2008 2:36am
Quoting VagyokC4
Great!

Basically the TREND is taking the ANGLE (look back three bars) of the 34 EMA (HLC/3)... >0 is UP and <= 0 is DOWN

CRISS-CROSS is UP when OPEN is < TOP EMA, and CLOSE > TOP EMA...
CRISS-CROSS is DOWN when OPEN is > BOTTOM EMA, and CLOSE < BOTTOM EMA...

CCI-SIGNAL is UP when > +100 and is DOWN < -100

MACD SIGNAL is UP when > 0 and DOWN when <= 0
What are the settings for macd and CCI??
  • #65
  • May 16, 2008 4:07am May 16, 2008 4:07am
Quoting magnumfreak
What are the settings for macd and CCI??
Default Settings CCI(20,C) & MACD(12,26,9,C)
  • #66
  • May 17, 2008 6:45am May 17, 2008 6:45am
last week when i look at EUR/USD (4H), everytime a new candle open below (will go short) or above (will go long) the lines, the price will move back to the lines!

maybe a bad week to trade EUR/USD using this 34 EMA.

can't wait next week. we'll see what will happen.
  • #67
  • Edited 10:21pm May 17, 2008 10:08pm | Edited 10:21pm
Quoting flizzoe
last week when i look at EUR/USD (4H), everytime a new candle open below (will go short) or above (will go long) the lines, the price will move back to the lines!

maybe a bad week to trade EUR/USD using this 34 EMA.

can't wait next week. we'll see what will happen.
If you watch what price "tends" to do around the 34 EMA's... you will notice that USUALLY when there is a break, there is ALMOST always a pull back that is caught by the wave... if it is NOT caught by the EMA's then a reversal is in progress.. and it's time to STOP and REVERSE! (S&R)

(Here is where most newbies fail... and tend to hold on to their losing positions too long... and become emotionally married to their trades...) Be careful however to use S/R levels when determining where your S&R point is... it should be on the other side of the Support/Resistance (S/R) line so that it's less likely that you will be stopped out.. (unless of course it is a reversal)

I haven't talked too much about trading strategies.. (yet!).. but one would be to open on the break, and then open on the pull back as well... with a SL on the other side of the EMA's in case it's a "trap"...

For example... Open .1 on the break... (in case there is NO pull back) .1 on the other two EMA's.. for a total of .3 in the direction of the break.. and a SL on the other side of the EMA's.. Where your SL is, you should also open in opposite direction (STOP AND REVERSE) with .4 and your losses are recouped rather quickly.. especially if it a true reversal...

Keep in mind this is just a possible strategy for playing the waves... Your homework is to look back at how price act around the EMA's.. and think of possible trading strategies...

Again.. I will look to get into the "optimum" trading strategy further down the road a little... for now we are just watch the PA around the EMA's and looking for patterns that tend to repeat themselves and find the entry points...
  • #68
  • May 19, 2008 3:03am May 19, 2008 3:03am
Welcome to a new week. Hopefully you all had a profitable week last week. If you followed the calls made last week, and were not too greedy, then you should have locked in some positive pips...

This week is starting off very interestingly.. If you look at the H1, H3, H4, and D charts, all show the EMA's "flat-lining". This is good because it sets up a breakout scenario. For me, I am in favor of a break DOWN as 205 S/R seems pretty strong.

Also notice on the daily we are sandwiched in between a couple of GANN lines
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  • #69
  • May 20, 2008 2:41am May 20, 2008 2:41am
Here is my M30... It doesn't take long to see the slow down pressure (lower highs) that is being applied to PA right now...

My Daily shows the Gann lines we are up against (203.07 ATM) which I think can take credit for the way the down pressure is taking such a slow drawn out attempt to break down... Bottom EMA is at 202.77 so expect some support in this area...

Lets see how she plays out
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  • #70
  • May 24, 2008 10:02pm May 24, 2008 10:02pm
Here is an M8 chart with multiple EMA TF's (8,15,30,H1,H2,H3,H4) for your viewing pleasure... Ignore the color lines at the bottom.. I was just focusing on the 34 EMA's and how price gave a CLEAR long signal... (or STOP & REVERSE) if we were going short

Here was had a great break-out trade

Any thoughts?
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  • #71
  • Sep 16, 2009 3:24pm Sep 16, 2009 3:24pm
I really like this system but I have a couple of questions. Where do you set a stop loss? At the 30 EMA (High) is you are short and the 30 EMA low if you are long? OR if price comes back to touch the EMA breakout you traded? What timeframe seems best? What currency pairs do you trade this system on? Thanks.
  • #72
  • Jun 6, 2013 9:33am Jun 6, 2013 9:33am
Hi Vag, i heard of this through Raghee Horner's Wave a while ago and i m trading this EMA34 HLC for a while already and its profitable for me, like u said the info have to be filter through different timeframes for higher accuracy entry, and i use support and resistance lvl to set my profit target and SL target.
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  • #73
  • Dec 27, 2014 4:27am Dec 27, 2014 4:27am
Hi,

Is this thread still active. I found some good information from here.
How do you protect your account against a false breakout and what the take profit and stop loss rules.

Thanks
  • #74
  • Jul 9, 2016 4:30pm Jul 9, 2016 4:30pm
Good thread. I wish the thread would have continued>
One good trend, Pays for them all>
  • #75
  • Sep 9, 2017 12:19am Sep 9, 2017 12:19am
Quoting flizzoe
nice stuff.. this is what i can see after 5 minutes looking at few charts: 1. don't trade when the price is touching and inside the lines. 2. trade when the first candle open above (buy) or below (sell) the lines. 3. take profit and stop loss is when the price touch the line. p/s: i prefer to trade at 4H
Good Observation. This is very simple trading technique.
  • #76
  • Apr 17, 2020 1:01am Apr 17, 2020 1:01am
Hi
if you combine this strategy with 2 other moving averages that makes the best (I SAY THE BEST EVER) strategy to get profit from forex. you need price action to consider to this strategy too.
forget about other strategies. because this strategy is essence of all financial market moves. EVERY MARKET
  • #77
  • Last Post: Apr 18, 2020 12:30pm Apr 18, 2020 12:30pm
This seems like a great, simple, almost naked chart strategy.

I'm gonna do some backtesting today. particularly on eurusd gbpusd.


thank you!!

Btw, is it ok to use any three emas?
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