1- Use DPO indicator (14).
2- Use MACD (default settings).
3- use ADX (default).
Enter short if; DPO below zero + MACD line crosses down signal line + the red ADX line crosses up the green line.
Sl 15 pips below/above the cross. TP 40 pips (then follow the price with 20 pip trailing stop)
Viceversa for long.
You can see clearly when the 9EMA crosses over the 30 EMA it will force all 3 indicators to folow suit . Such system was sold 2 years ago for 12000USD. In straight words; they made fool out of you.
Summary: (all you need in FOREX trading is 2 moving averages, no more no less. It is also helps to know historical S/R levels).
it's a real good if someone can develop this strategy as an EA.
well seems every1 else has had ther say,might as well have mine.........firstly think the thread lost the plot a little after the first post and went off into a bit of a rant,even if it was funny in parts, and here was me thinking i was coming into the thread to find "the system",alas as a newbie to forex myself i also started out with a couple of ma's,doesn't every1,and i suppose they do work for a bit,but then you want more than a "bit",so thats when you start tryin to filter out all them loads of dam false signals, so as newbies what do we have ???? we dont have 20 odd years of experience in the pit and another 5 trading forex online.......we have them luvely old indicators,but what i think we have best of all is what the "senior members" where trying to point out is failure,because if you dont have failure then you cant learn and its only learning from what you done wrong in the past that you can do better the next time........sorry is that me back to experience again but until we have that experience we have all our luvly coloured indicators.............dont ya just luv em............anyway enough rant,like probabbly most "systems" mine also includes a cross of ma's in some form or other,and if it works for you it works,cos like snowdrops we are all different..............jeez now i know im drunk
good trading all.........the stellaman
p.s just as an edit......id just like to say that the guy i was talking to on the beach in goa(that got me started in this crazy world) with the rolex on, that was staying in the 7star hotel(yes there is 1)while i was in the tent on the beach,that made his lot in forex said to me to KEEP IT AS SIMPLE AS POSSIBLE..............
So all you did was go look at my system mentioned earlier in this thread, then change 2 of the indicators to indicators that do almost the identical thing and suddenly you are a magician?
Possibly coincidence, but I don't think so?
As I said such system was sold for 12000 USD. So it cant be yours.
Can anyone advise the best settings for EMA H4?
thanks in advance.
When you say take profit 40 pips below cross I have a question. For the currency to make the crossover going down, the currency has already dropped considerably in pips below the longterm MA to make the shortterm moving average to crossover, and vice versa if it is cross-up. At this point the currency movement can stall and move collapse causing a good stoploss. How do you deal with this??
Accept it? hehe, sorry just kidding
If I can trade with your real money, I would be glad to! He He
That's why I won't let you trade with my money
can i say that fibs & pivots r a non lagging indicators