Is there a way of letting the market tell you when to close your position? eg. when price closes on the wrong side of the 14EM? Rather than setting a target?
Also, do you trade this on other pairs?
And finally [!], what are the other indicators which have appeared on your second chart?
About targets. This is scalping after all, so I like to take some profit off at the first sign of reversal, once I’m up about 15 pips…like a solid 5min close in the wrong direction etc, Maybe some exit guidelines can be set based on EMAS just like entries, I will explore that.
Then let some of the trade run to the next logical target, be it a pivot point, a murry math level, or .50 to 61.8 of a fibb. Whatever seems most logical just looking at your charts…dont think too hard.
E/U is nice because you can get away with small stops, today I didnt go over a 15 pip stop on eu, maybe 20 on GU…GJ you might need more,but I would stay away from GJ if you are new to this method. E/U and G/U are good…E/J as well.
The yellow line on my chart is the Strength/Weakness indicator. Search it on you tube. Sorry, I cant share that one, but it is not crucial to the system. The little red and green one is just going with the slant of the 50 EMA because that is important and I like colors, lol.
I’ve noticed that zip files from this site don’t work if I download them on windows, but work fine when I download it with my Mac browser (I run MT4 in a virtual environment on my mac)
yeah, I tried to download it and it doesnt work…hmmm. Not sure what to do. It has to be in the form of a zip to even be uploaded…mq4 is not an option, it wont allow it.
ok, well it works on Mac, so its not the file…I’m thinking its babypips. Would be nice if I could just post a link but mods delete them. I’ll keep trying.
i have vista and explorer on a pc and i can download it and unzip it but i cant find it in metatrader i have copied it and past it in tenplates but it dont show up when i have restart the mt4 am i doing something whrong also you file is not named .tpl as tenplates usually are named ?