4H 5EMA System | Page 43 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

TEB 5ema & 12ema and 21 RSI (MTF) 1,730 replies

5EMA hilo system, and EA Idea 18 replies

4H 5EMA System's EA 79 replies

4HR 5EMA Expert Advisor 42 replies

when 5EMA crosses out of 55LWMA channel 0 replies

Attachments: 4H 5EMA System
Exit Attachments

4H 5EMA System

  • #841
  • Nov 3, 2008 3:19am Nov 3, 2008 3:19am
Quoting stersuhr
The low of the setup bar for that short was 1.6351 so you should have been short from 1.6341 if your using 10 pips below and above.

-Sterling
That is correct
Regards
  • #842
  • Nov 3, 2008 5:25am Nov 3, 2008 5:25am
Quoting stersuhr
You right Ronald. The rules state that price has to break the EMA by 5 pips. It can be completely below it with nothing touching the EMA...it just simply has to go threw it by 5 pips. Everyone dont over complicate the rules just take them for face value.

-Sterling
I kindda confused... in rule#1, there's this rule:
Price must touch one or the other [not both], if it touches both EMS.....

so I was guessing price should hit one of the EMA right?
I think it's more suitable to say "Price must not touch both 5 EMAs, but [as you explained above]...." like that.

Thanks for explaining!
  • #843
  • Nov 3, 2008 10:18am Nov 3, 2008 10:18am
Quoting ivonivon
I kindda confused... in rule#1, there's this rule:
Price must touch one or the other [not both], if it touches both EMS.....

so I was guessing price should hit one of the EMA right?
I think it's more suitable to say \\"Price must not touch both 5 EMAs, but [as you explained above]....\\" like that.

Thanks for explaining!
I did posted this question some days ago:
"1. I have question about trade number 4 (sell stop at 1.7783) in post #23. The original Entry rule 5 in post #1 says: \\"A proper setup bar must break the 5EMA by 5 pips or more to be considered for the trade. It must also touch either the lower 5EMA or the higher 5EMA, not both\\" However, The setup bar of trade 4 does not touch the higher 5EMA? There is same situation with trade number 8."

And Sterling answered as follows:
"...If price opens, closes, and never touches the higher EMA as is the case with this trade it dosent matter. The rules state that it has to go threw a EMA by 5 pips, so if its above it but not touching it, its still threw it even though its not touching it and thus was a valid setup bar for a short."
  • #844
  • Nov 3, 2008 11:13am Nov 3, 2008 11:13am
This is a very interesting system. I will keep monitor how well it does in the next few months of live trading. First trade of the month and it's already about 400 pips in profits. After looking at the backtest results, I think this system might work very well during trending periods. It doesn't do so well during consolidation like most systems. Trends usually occur after consolidation. Consolidation usually occur after trends. If this system can catch one or two trends in a month, I think it should be good enough for at least about 500+ pips monthly.


Short signal from yesterday with 350+ pips and running:

Short GU 1.6223
SL 1.6402

(based on ibfx charts)
Attached Image
  • #845
  • Nov 3, 2008 1:43pm Nov 3, 2008 1:43pm
Trade #1 We are short from 1.6224 and the current stop is 1.5982 When the current bar closes at 6PM EST we should be able to tighten the stop up even more.

Well the last month closed in positive territory but not by much...only 50 pips or so. For this system that wasa pretty horrable month. Glad to see we started out with a nicer winner for the first trade of the month thats always good. Were up about +400 pips on that trade and the stop locks in around +250. Hopefully will get a stall in the market atleast so we can tighten up the stop even more. Happy trading.

-Sterling
Attached Image (click to enlarge)
Click to Enlarge Name: nov 3rd.gif Size: 51 KB
Founder of Day Trading Forex Live
  • #846
  • Nov 3, 2008 1:48pm Nov 3, 2008 1:48pm
Quoting ivonivon
I kindda confused... in rule#1, there's this rule:
Price must touch one or the other [not both], if it touches both EMS.....

so I was guessing price should hit one of the EMA right?
I think it's more suitable to say \"Price must not touch both 5 EMAs, but [as you explained above]....\" like that.

Thanks for explaining!

Check out rule #1 and see if thats a little easier for you to understand.

-Sterling
Founder of Day Trading Forex Live
  • #847
  • Nov 3, 2008 4:48pm Nov 3, 2008 4:48pm
Hi everybody.
I have a situation that needs clarification:

I have a setup bar for a buy. I'm putting the buy stop order acordingly. The next bar start and first it forms a lower low then setup bar and then a higher high then setup bar triggering the buy. Here is my dilemma: if the current bar made a lower low first, then should i delete the pending buy and wait for the bar to close and become a setup bar? If the anwser is no and the buy is triggered correctly then should i move the SL to the lower low ( current bar low)?

I hope i made myself clear.


Thanks,
Alex
  • #848
  • Nov 3, 2008 6:29pm Nov 3, 2008 6:29pm
[quote=AlexL;2323752]Hi everybody.
I have a situation that needs clarification:

I have a setup bar for a buy. I'm putting the buy stop order acordingly. The next bar start and first it forms a lower low then setup bar and then a higher high then setup bar triggering the buy. Here is my dilemma: if the current bar made a lower low first, then should i delete the pending buy and wait for the bar to close and become a setup bar? If the anwser is no and the buy is triggered correctly then should i move the SL to the lower low ( current bar low)?

I hope i made myself clear.

You should just move your stop 5 pips below the new low. This system was made so you only have to look at the market once every 4 hours, so if your ever thinking to yourself that you would have to be there to trade it a certain way then you know your applying the rules wrong. At that point feel free to ask and ill clear it up for ya. Hope this helps!

-Sterling
Founder of Day Trading Forex Live
  • #849
  • Nov 3, 2008 6:43pm Nov 3, 2008 6:43pm
Thanks Sterling.
  • #850
  • Nov 3, 2008 9:57pm Nov 3, 2008 9:57pm
Quoting stersuhr
I dont usually recommend using other pairs with this system but the AUD/USD might be a good short right about now, and heres why. They have an interest rate decision tomorrow where they are expected to cut by .5% and there is a possability for them to suprise. Greed/fear drives every market and after the 150 pip spike down the last time they cut people probably want to be short if anything right before the news tomorrow at 10:30 EST.

Ive been short from .6833 with my stop at .6933 And the carry trades look like there ready to selloff for the temporary and the AUD usually goes the direction of the U/J when it moves hard in one direction.

-Sterling
If anyone took the short I called I just thought I should say that im out right now and right now is a great place to get out. I think there is A LOT more downside to the AUD/USD but I locked in close to 200 pips so im just going to take profit and be happy. Hope someone made some money on this too.

-Sterling
Founder of Day Trading Forex Live
  • #851
  • Nov 3, 2008 11:00pm Nov 3, 2008 11:00pm
Well it looks like the current G/U short is in profit +580 pips. We will be able to move the stop loss a lot closer come 2 AM EST.

-Sterling
Founder of Day Trading Forex Live
  • #852
  • Nov 3, 2008 11:11pm Nov 3, 2008 11:11pm
Quoting stersuhr
Well it looks like the current G/U short is in profit +580 pips. We will be able to move the stop loss a lot closer come 2 AM EST.

-Sterling
Yep- GBPUSD sure is on a real nice profit run right now!
  • #853
  • Nov 4, 2008 12:55am Nov 4, 2008 12:55am
Hello, my call name is steadyincome and i have been using EA's for about 6 months now, and i have deen testing the 4HR5EMA for just on 4 days and im rather impressed so far, im using V6, and im thinking that it does need a Traling Stop to lock in profits,I do not understand a lot of what you Guys are talking about but will in time, i visit this forum each day to see what has been added. SI
  • #854
  • Nov 4, 2008 1:23am Nov 4, 2008 1:23am
Quoting steadyincome
Hello, my call name is steadyincome and i have been using EA's for about 6 months now, and i have deen testing the 4HR5EMA for just on 4 days and im rather impressed so far, im using V6, and im thinking that it does need a Traling Stop to lock in profits,I do not understand a lot of what you Guys are talking about but will in time, i visit this forum each day to see what has been added. SI
Glad to have you here. The rules are pretty simple so give that a read first. I post a "chart of the day" everyday, which outlines every trade and the pip count for the month. Right now were short the G/U and up +500 pips for the first trade of the month. Its nice to start on a good trade for once lol. Hope to see you around, feel free to ask if you have any questions. I make a point to try to answer every question, if it slips by me feel free to ask it again.

-Sterling
Founder of Day Trading Forex Live
  • #855
  • Nov 4, 2008 1:51am Nov 4, 2008 1:51am
Hi! Sterling,

is the EA still on the debbuging stage?

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #856
  • Nov 4, 2008 2:56am Nov 4, 2008 2:56am
Do you all trade only one pair, im testing every pair on three MT4 platforms on 4hr and some on 1hr and one of the platforms on 30minutes.
  • #857
  • Nov 4, 2008 6:23am Nov 4, 2008 6:23am
Sterling,

I have found the \goldminer\ indicator at one of the other threads on FF.

If you think it will be helpfull, let me know so I can attach it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4nov.gif Size: 20 KB
  • #858
  • Nov 4, 2008 6:33am Nov 4, 2008 6:33am
Hi Sterling
We are stopped out on our short trade from 1.6224 for +456 and triggered long at 1.5765.Long trade is in positive and reversal candle is closed. Do we move our stop up and also should we put the reverse order to go short ?

Bhupinder
  • #859
  • Nov 4, 2008 6:49am Nov 4, 2008 6:49am
Quoting Jnita
Sterling,

I have found the \goldminer\ indicator at one of the other threads on FF.

If you think it will be helpfull, let me know so I can attach it.
Please post it anyway so we can see how it works and whether it repaints or not
Regards
  • #860
  • Nov 4, 2008 6:57am Nov 4, 2008 6:57am
as attached: \goldminer\
Attached File(s)
File Type: ex4 goldminer2.ex4   4 KB | 455 downloads
2 traders viewing now