[quote=proverbs;2716113]All,
I have been trading higher time frames and have found a setup that happens over and over again that is working well for me after much DEMO testing that I wanted to share as part of my give back to this great community.
Note: I find these rules work on any time frame.
The entry rules I am following don't have to happen in any specific order:
Entry:
1. Fast TRIX steady color or closed color change in trade direction.
2. Stoch (9,3,3) closed cross in same trade direction. (works better if coming out of overbought or oversold)
3. 4 EMA and 7 EMA closed cross in same trade direction.
Note: The closer all three of these happening at the same time, the stronger the move will be.
Exit:
I move to break even once in a comfortable GREEN pip territory. (your risk level may very)
Then I manually trail a stop loss on the high of the previous Heikin-Ashi candle. If the previous candle is an inside bar then i ignore it and wait for the next candle to form.
Note: I am using a variation of the 3 bar reversal method for my exit but since the HA candles are longer than a normal candle I find the previous HA candle seems to work just fine unless there is a retracement before I move to break even. This is why I actively manage my trades and manually move my stops
Enjoy!
Can i have the indi please?
I have been trading higher time frames and have found a setup that happens over and over again that is working well for me after much DEMO testing that I wanted to share as part of my give back to this great community.
Note: I find these rules work on any time frame.
The entry rules I am following don't have to happen in any specific order:
Entry:
1. Fast TRIX steady color or closed color change in trade direction.
2. Stoch (9,3,3) closed cross in same trade direction. (works better if coming out of overbought or oversold)
3. 4 EMA and 7 EMA closed cross in same trade direction.
Note: The closer all three of these happening at the same time, the stronger the move will be.
Exit:
I move to break even once in a comfortable GREEN pip territory. (your risk level may very)
Then I manually trail a stop loss on the high of the previous Heikin-Ashi candle. If the previous candle is an inside bar then i ignore it and wait for the next candle to form.
Note: I am using a variation of the 3 bar reversal method for my exit but since the HA candles are longer than a normal candle I find the previous HA candle seems to work just fine unless there is a retracement before I move to break even. This is why I actively manage my trades and manually move my stops
Enjoy!
Can i have the indi please?