Need more suggestion and opinion for this strategy

Trading Discussion
1

BUY
Since every crossover occur from faster cross slower then wait for next candle to do order
need confirm with the RSI more than 50
need confirm with SO more upward or at the oversold level
ATR can consider use to determine the tp or sl
exit if the candle close over the slower ema, or the next osma histogram is lower than previous
tf 5,15,30 min
if the trend move with your direction and move 10 pips, need to move sl up 10 pips, when the trend move 20pips, move sl to 5 pips to ensure profit
OSMA will give the warning before the trend, by changing direction
crossover of Faster ema with second ema is second warning
crossover from faster and slower only the entry
disadvantage: exit is sometimes no accurate, so with trailing sl to reduce this short issue
with support of the RS level is much better, but my personal favour is using slow smoothed MA as the RS level to see whether breakout or test the level
if you are familiar with the candle patterns also can combine it, such is wedges, Head and shoulder, wave, double top and so on
start from GMT 5 until US session close, it can be 70% accurate, with a trailing lose start witl sl 30/25pips tp 40pips
vice versa for SELL

EMA-10 close
EMA-15 shifted 1 close
EMA-25 shifted 1close
Smoothed MA 100 close
Smoothed MA 60 close

SO 20,6,3 Close, Simple,add level 20,80 for identified oversold and overbuy
RSL Close 9 , set level 30,50,70
ATR default setting, depends, not very important
OSMA close, 12,26,9,

2

My suggestions and opinion:-

  1. Learn how to backtest systems for yourself - never depend on others’ opinions.

  2. Don’t imagine that multiple-indicator systems are likely to confer any realistic edge over the market.

  3. Don’t fall into the trap of the imagining that having indicator-signals confirmed by other indicators will make a system somehow “better” (usually they’ll increase the win-rate and decrease the profit-potential).

  4. Appreciate that the correct and valid purpose of indicators (including the ones you mention above) is to determine trend for the purposes of providing overall directional bias, NOT for the purpose of entering specific trades.

  5. Read some beginners’ trading books which clearly explain and illustrate points 2, 3 and 4 listed above. I recommend Van Tharp’s “Trade Your Way to Financial Freedom” and Tushar Chande’s “Beyond Technical Analysis”, both of which do the job nicely.

Continuing to believe that methods of the type you outline above are ever going to produce a profitable trading system for you are simply using up all your time and attention without getting you any closer to being able to trade safely and profitably.

There are better ways to use your time than dreaming about things like this, which can so easily fill your life (exactly as they’ve filled the lives of thousands of other people, none of whom is making a living from trading). All this kind of idea is doing is using up all your time with no prospect of viability or a real edge or making any money or even educating you.

Excuse me for “telling it how it is”.

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