Short term trend system � Meta trader friendly
Timeframe: 5 mins
Pairs: EUR/USD, USD/JPY, USD/CHF, AUS/USD, (maybe GBP/USD), EUR/JPY
Entry Signals:
Buy:
5 EMA is higher than 10 EMA
Momentum 8 has to be greater than 0.0010
Momentum 1 has to be between 0 - 0.0018
Opening price has to higher 7 EMA
William %R >= -80
Sell:
5 EMA is lower than 10 EMA
Momentum 8 has to be greater than 0.0010
Momentum 1 has to be between 0 � -0.0018
Opening price has to lower 7 EMA
William %R >= -20
Only place an order at close price.
Notes when not to trade:
* When momentum 8 shows a buy or sell signal and momentum 1 show abover 0.00018 don�t trade until the next mometum 8 signal.
* When momentum 8 shows a buy or sell signal and 10 EMA lower or higher and William %R doesn�t shows a buy signal then don�t trade until the next mometum 8 signal.
* Don�t trade the candle at news times and come before news times.
Exit Signals
Lose situation: Close the trade when both MAs are crossing each other. 5EMA and 8EMA
Profit Situations:
Tier 1: If price close above by 5 pips, place trailing stop at break even
Tier 2: 5EMA and 8EMA close each other
use currency with 2 decimal - 2 decimals, 4 decimals - use 4 decimals
basically my plan is make ea based on this system.
i have metaquotes templates and customize indicator.
post more on it if there is interest.
