MA + Momentum system

hi

what i meant above is.....even if the momentum changes from below to above and vice versa, and a full candle forms on the opposite side of the 19ema, do not enter unless the price has a definate reverse on that side of the 19 ema.

also, like most systems, this will be a killer during ranging markets resulting in multiple stopouts.

so, u need to have filters for when its ranging........

suggestions anyone.

also, just a thought....

but should it matter what size the complete candle is ? is there a minimum / maximum size it needs to be ?? and do dojis count ?
i think it does matter.

am looking @ adding MACD and ADX
ADX to dictate ranging market while i use MACD/19 EMA & momentum for signals..... just suggesting . u think that would work out?

Could u post a template for this system ?

And is it ok to work on 5min chart with this method ?

1h e/u only

ok i need the temp for this

Mastscalpa,

Instead of a using another indicator as a filter have a look at using a higher timeframe on your Mom indicator.

I just recoded an MTF RSI indicator to a MTF MOM indicator using mladen's original code.

I have attached the indicator as well as a H1 chart showing the indicator with arrows.

Worse case..use it on the current timeframe and you have a color coded Mom with arrows

Thanks for the MTF indicator, it is very usefull.
what are youre settings for the EMA.

dutchsignals

dutch,

those EMAs don't have anything to do with MastaScalpa's system.

i just slapped the Momentum indicator onto my normal chart.

am not a fan of 1H chart but am trying to start using them for longer trades
ma Ema 19 win 0
momentum win 1
adx mtf win 2
macd win 3
attached is the indicators ...thanks goes to FF

webglobe,

yes, would like to know how you use the adx and the rest etc for ranging markets and taking trades...can u explain.


mastascalpa

a lot needs to be clarified.

when candle closes in opposite side of ema , what is the minimum size and maximum size the candle is allowed to be ? i say this because if a candle closes on the opposite side and it has moved by 150 pips, surely then it is not a good idea to take this trade ? as too much movement has already occured.

say the candle closes on the opposite side. but the momentum hasnt crossed yet. so what do we do here ? do we wait for the momentum to cross before entering the trade ? but what if the momentum takes 2-3 hours to cross, can we still enter a trade after such a long time, as the price movement could be exhausted by then.


the stop loss - what if the stop loss level is too small, where do you set the next stop loss ?

hello is like this thread is dead, anyone using this system today? am yet waiting for a set up to enter

possible buy set up on eu, watch.

how r u using the adx etc ?

first of all i have to appologise for my last post, i didnt refresh my screen before the comment.any way the ADX is mtf. i like to wait for all the colors to be lime before buying or red before sell but i also have to consider the levers like 20 below is weak while 40 above is strong trends

forget about the eu buy. it is no longer happening..


can u explain your adx mtf etc with chart examples ?

my previous post explains the ADX while i go buy when the macd is above 0 and but there is something about this system ...i have to wait and while u get that entry you may leave it for days becuase is a higher tf. i tell u what, is not my style but i want to try it for days. my eye hurts this days scalping on pc + emotion lol

This is the first system that has enticed me to higher timeframe - I usually hang out in 1m or 5m threads, but this is great due to its high probability, low number of stop outs and good pip return. Seems to get you into trends as they develop instead of trying to chase it.

Thanks go to MastaScalpa for bringing this system to FF. Its a great system, so simple and easy to see trades.

I am demo trading this on GBPUSD, EURUSD and USDCAD, 1 hour, it really doesn't seem to work on other time frames with these settings, except maybe 30 min. Original developers also incl USDJPY but I left that one out.

The entry rules seem fine. My main concern was the length of time in the trade and the exit at next crossover, lots of pips were being given back.

I used Forex Tester software (allows trades to be entered as if in real time) and I ran through the Jan-Feb's '11, data trying different exit strategies, these are my results.

This was so far only done on EURUSD Jan 5th to Feb 28th from memory.

Exit one: +683 pips - SL 70, exit at cross of 100 MOM,

Exit Two: +1,141 pips - SL 50-70 pips, TP 100 pips, 20 pips rule (if trade goes positive do not allow a negative trade take 20 pips)

Exit Three: +1,687 pips - SL 60-80 pips (above/below recent high/low), manual TP based on reversal candle formations, plus my 20 pip rule. I also re-entered trend when price touches EMA as long as MOM is correct colour.

Note: All the above results not totally realistic as trading was 24/5 which is not possible. But it gives a relative reference.

I exited on morning and evening stars, bullish and bearish engulfing, piercing and dark cloud cover etc.

Attached is a GU chart for last 10 days showing examples of trades that could have been taken and where I would exit due to candle formation.

Also incl a candle recognition indicator which I find annoying but may be helpful for people learning candlesticks, found an mq4 and exe file so included both, not sure what the difference is if any.

wow !looks good!Big thx

really good work !

Julie1585
maybe you will create a robot?
both green - long
both red - short