Hi nice post, I use a similar system to this just different settings. I have been backtesting your settings and have found that it picks up the trend quicker than my slower setting. Cheers I use 5-15 min with my system with a smaller trailing stop and it quite profitable. I also use another indicator that may help you which is a swing indicator but I only use this as I am on smaller time periods to get exits if higher highs or lows are not achieved so I can close before moving average cross. I believe in simplicity with my trading and sticking to your trading plan. Comments about adding piviots could benifit you in your quest. Nice job mate.
Dear ForexPhantom
I am a new trader. While I like to put those indicators on my trading terminal, I really do not know how to insert the EMA. I have no problem with the RSI.
Please, can anyone out there help.
Thanks.
Goodyman
Hi can you guys tell me whether the EMA is applied to the open close high low etcā¦ and can any one provide me with a template if would be great also
thankz
I donāt know how to do it for every system out there but just in case you use Oandaā¦
Add a Study on the bottom leftā¦
Select EMA from the list (youāre going to need to do this twice).
Then put in your inputs. I use 5 and 10 just as was outlined in the first post on this thread.
Dear ForexPhantom
i use Oanda what are the inputs for the rsi
thanks rob
Hi,
Was wondering if anyone has tested this strategy for a certain amount of time and found success with it ? I am currently trying to code and backtest this system. Thanks alot.
Victor Cai
Iāve been testing it on Demo the last few days and other than a few whipsaws it does work. I have not read through this entire thread to see if it has evolved over the years but the system detailed on the first page works maybe 90% of the time on Demo.
I worked out away to reduce the whipsaws. Instead of setting your RSI to 50,0 for the 2 lines, set them to 55,45. Now when the signal line crosses the middle line, wait till it actually crosses all 3 lines before acting. Backtest it, it cuts out about 80% of the whips as they fail to cross all 3 lines and you can continue along nicely.
Does anyone still use the original system?
Hi FXCO,
Iām starting live trading (small lots) on Monday, but I am still attempting to get a feel for this systemā¦I like what I see so far.
Let me know of your progressā¦
Best,
BK
Hi. Nice system, indeed. I tried something like this, with different setttings two evenings ago and bagged 300 pips. 100 pips on three different trades in two hours. But it was in demo. And like others have said, using this along with pivot point and R/S would really help with where to put your SL and TP. Because on another trade I did using this method, with no TP and without knowing where the Pivot Point and R/S was at, it went up to around 100 plus pips, then sure enough, it came falling back down and I only got 20 pips. Iām going live with Oanda tomorrow and am going to try this with PP and R/S. Doing this during non news time really helps too. Thanks again. Happy Pippinā.
Let me know how it goes I will begin demo trading this week.
I am using it, with the mod to the RSI lines I mentioned to reduce the whips.
Keen to see what others have added including the Pivot lines.
Hey marshalmax have you had much of a chance to give this (45/55) a good run out? If so, what do you think? If you havenāt Iāll give it a go.
Give it a go my all means. It does cut out a lot of the wobblies!
Iām starting to notice that it seems to be pretty successful in trending markets though maybe not as successful in ranging markets. Have you noticed similarly?
Well yeah. The very nature of wanting a crossover means you want a movement in the price
movement in price = trend change
trend change = opportunity for a win
I use a 200 and 100 EMA as well so I can ignore any that are flat or nearly flat and move on to currencies that are trending.
I was trying it today with the 45,55. I put in a sell at around 1.36 on the EURUSD. It has turned north all of a sudden, Iām 14 pips on the negative. The RSI has crossed all three lines, the EMA 5 and 10 have crossed.But now it is going north, can somebody explain what just happened?
i have acctās with oanda and fxcm the same 5 and 10 emaās cross at different points on oanda mine crossed at 1.36420. iāll try get my fxcm to look the same tomorrowā¦ the fxcm was a free $50 acct. . i noticed the difference after setting up the strategy on the fxcm it has different settings for the emaās iāll try to set it to match the oanda as it works better for me what broker do you have ?
I have OANDA.