EllisEdi Moving on to my next trade ...
Forex intraday using the 5min chart: EURUSD 108 replies
The Force 5min system 3,806 replies
Intraday Pound Trades on 5min chart [GBPUSD] 36 replies
5min Bollinger breakout system 42 replies
DislikedYes, it's been so successful because of its simplicity to learn and effectiveness.
What's your next step on this forum?Ignored
DislikedHi Phil,
I have created an indicator for you that will hopefully help you not to spend too much time in front of the screen - waiting for the right conditions.
It should give you a signal that matches your conditions. (even the angle)
Just put the two files in your indicator folder to test it this week and let me know what you think of it.
Have fun.
Regards, Dariuske.
PS: I'm not using your system yet, but I will be looking into it the comming days.Ignored
Dislikedhi, could some one tell me what i need to read the above files,
do i need to download something?
please and thankyouIgnored
DislikedPhillip, thank you for sharing your system!
If anyone is interested, I've attached template with one indicator which could hopefully help with timing when exackly enter the trade.
Everything is the same, you follow Phillip's method as described. But once you are ready to pull the triger, then, in those seconds this template may help. Or may not - try it and see.
Indicator is G_MACD and it is coded to 1min interval. So while you are watching your 5 min chart, you can also with this indicator, placed on your 5 min chart, see underlying 1 min movements. Hence may be usefull.
I also added 4 times RSI with periods 2, 3, 4 and 5. It may help visually pinpoint the turn point.
Mario
P.s.
In case that this addition proves, not to be helpfull, I will denie that I've ever uploaded this template :Ignored
DislikedJust copy these two files to c:\program files\metatrader4\experts\indicators
and select the indicator menu in Metatrader and drag them onto your graph.
Good luck.Ignored
DislikedHi Phill,
Very nice and simple system, I have tested it and make pips.
I have question, are indicator by Alamanjani is the same as yours ?
which should I use ?
Thanks Phill
You're the BestIgnored
DislikedHere are a template.
Just extract it to c:\programf Files\MetaTrader 4\templates
Then at the right top you will find the Template Icon.
Open the EurUsd chart. Click the Template Icon and select 5minzoneIgnored
DislikedHi Phill,
Thanks for answering my question, I have another newbie question, How to read / analyze the SMA angle ?
Correct me if I'm wrong, The green line is the MA 50, and the three yellow line (0,0 and 0,1 and -0,1 are the degree ?) so if the bar chart (green) more than the 0,1 or -0,1 line it mean over 20 degree ?
and if the sound / pop up alert is splash, it mean the criteria of your methode is met ?
I have make +8 pips today from your methode...
Thanks again for sharing this simple and profitable methodIgnored
DislikedHi folks.
I have been demoing this system and really like it. I have a question though. Would the creator, or others trading this, have taken the following signal on the GBP? It seems to meet the requirements, although I understand this is a discretionary system, I am curious as to how agressively people trade this.
Thanks!! ScottIgnored
DislikedFollowing on from this question (and would love to hear the answer, though I suspect it would be a no trade because price has crossed the 50sma), I had a situation around the same time where the 5M chart was showing something similar, but the 15M chart was giving a short signal now, and the 1H was giving a long signal. That led me to total confusion, and I decided to not take any trades (albeit them being demo. Am trading this way very serious with demo to mimick reality as close as possible).
Clarification on this point would be much appreciated.
Regards,
K.Ignored