Excuse me for my poor English
Long period coral decides the direction,and use the combination of breakline and short period coral lines to decide where to open order.
This system contains the factor of time through counting candle numeber(candle above coral 10)
Chart M5
Indicator part：
Main Indicators：
1、4 Coral lines :Coral200 、Coral60、 Coral20、 Coral10；
2、MACD（12,26,9）with divergence alert；
Market info tool Indicators：
ATR value Display.ex4 ;SpreadandRange.ex4;SR Alerts-AP V3.ex4(use for breakout alert);
Count Candle numeber(candle above/below coral 10):
The number bases on your observation and the feature of the pair you trade;
According this to decide to use horizonal breakline or sloped break line.
Candle number less than 10,use a horizonal breakline;
Candle number bigger than 15,use a sloped breakline if the sloped breakline can be drawed,if not still use a horizonal line.
Manual Breaklines：horizontal breakline and sloped breakline。
The funciton of coral 10\20 is to help to draw the breaklines.
If sloped line can't be drawed,use a horizonal line;
If the previous price wave is too sharp，use a horizonal line(watch out for divergence at the same time);
Detail Rules：
1、Direction：Coral200 and Coral60 decide the direction:
Both move up,only take long trade;
Both move down,only take short trade;
One move down/up,another move up/down,Draw a horizonal breakline,let the market tell us the direciton.
2、Entry condition:
Trade when price breaks the line;
The close of candle must be above or below Coral200 and Coral 60;
Do not entry even it satisfy all the entry condition：
If price corsses coral200 coral60 time to time wiht sloped price movement;
If price corsses coral200 coral60 with bigger and bigger price range;
3、Set stop loss：
Set stop loss according the ATR value(2 times or 3 times).
4、Exit：
Candle price closes above coral 10(Exit partly or Exit all);
Candle price closes above coral 20(Exit partly or Exit all);
Candle price closes above coral 60(Exit partly or Exit all);
Candle price closes above coral 200(Exit partly or Exit all);
MACD occurs opposite cross(Exit partly or Exit all);
MACD divergence occurs(Exit partly or Exit all);
If exit pralty,then move the SL according the ATR value.
About the divergence:
Divergence means resistance or support.
Resistance or support is concept of zone,not point.
You can not trade divergence,and you can not trade resistance or support neither .
You can only trade a verified S/R or divergence by the price .
So when divergence occurs,find the S/R ,use breaklines,wait for breakout.
