Like many other systems out there I will also use the MA crossover method, but not the normal EMA or SMA. Because I have found the Ichimoku Kinko Hyo to be very useful in many ways, I will use a few components from it and add a few of my own. So I guess it’s safe to say that Ichimoku was part of the inspiration of this system.
The indicators used in this system are as follows:
-Tenkan-sen (9)…also use Daily & Weekly levels as S/R on 1 Hr chart
-Kijun-sen (26)…also use Daily & Weekly levels as S/R on 1 Hr chart
-QQE (1) (This is equal to RSI (14)
The pairs that I use are the Majors and Yen crosses.
Primary Trend Detection (Daily):
-When Tenkan-sen is above Kijun-sen then look for long entries.
-When Tenkan-sen is below Kijun-sen then look for short entries.
Entry Setup (1 Hour):
-Enter LONG when Tenkan-sen crosses above Kijun-sen, QQE is above 50 AND price is above Tenkan-sen and Kijun-sen.
-Enter SHORT when Tenkan-sen crosses below Kijun-sen, QQE is below 50 AND price is below Tenkan-sen and Kijun-sen.
Exit/Profit Target Rules: (You decide)
-When Tenkan-sen crosses Kijun-sen in the opposite direction
-Next Daily/Weekly Tenkan-sen or Kijun-sen S/R level
-Next round number ex. 1.05000
Risk and Trade Management:
-Place SL 40 pips on Yen crosses.
-Place SL 50 pips on Major pairs.
-Move all stops to breakeven when trade reaches 1:1 reward to risk and trail stops to lock in profit (manual or automatic).
Questions or comments are welcome. Let me know what you think. Peace
QQE with Alerts.zip (2.03 KB)