Hello Traders
I want to share my system with you.
Without Further ado, here’s Skyplay System.
Best pairs to use EURUSD, GBPUSD
Pairs to avoid AUDUSD, YEN PAIRS
This system works best from 7am GMT to 2pm GMT.
No Entries past 2pm GMT
SL 25 PIPS TP 20 PIPS
1Trade Per Day
Timeframes
1hr (shows trend)
5min (determines entry)
Indicators: 1hr:
Coral (settings x period = 20) - shows direction of trend
Breakout box - shows time range of trading
5min:
20EMA (Yellow) applied to HIGH
20EMA (Red) applied to LOW
MACD with alert
True Strength Indicator
Time Zone Trading Indicator
ENTRY
BUY
ON 1hr:
Coral indicator should be Green and Sloping Upwards
Time must be between 7am - 2pm GMT
On 5min:
MACD must show a long signal (green line above red line)
True Strength Indicator should be >0 (showing +ve value)
When a Candle closes above EMA20 HIGH (Yellow), buy at the open of next Candle
SELL
ON 1hr:
Coral indicator should be Red and Sloping Downwards
Time must be between 7am - 2pm GMT
On 5min:
MACD must show a short signal (red line above green line)
True Strength Indicator should be <0 (showing -ve value)
When a Candle closes below EMA20 LOW (Red), sell at the open of next Candle
Below are the indicators and Template
SkyPlay indicators.zip (17 KB)
EDIT: - 10/05/2013
we have the latest indicators and templates updated. please download them on page 17 post #170. NB: The rules remain the same.
We have a separate thread for automating the system here http://forums.babypips.com/expert-advisors-automated-trading/53274-skyplay-system-ea.html
Your feedback will be highly appreciated
EDIT: - 24/04/2013
After much discussion and intensive backtest from our human robot, System Review: Skyplay System we will adjust the S.L to 20 pips from the original 25pips to give a R:R of 1:1