I have been asked that with such a 'demon' strategy why I would need to lower my standards and use a 5m chart for an entry point.
The answer to this is quite easy..........It's all about clarity.
Look at the 60m chart on the right. It's oscillating, in a non-trending market, either side of my moving averages.
Yes the 21 CCI has crossed but it's not clear-cut.
On the 15m chart in the middle it become everso slightly more obvious with my 84 & 336 (60m & 4hr) CCI's crossing the 0.0, but it's still quite daring, or at least looks that way.
However, on the 5m chart on the left its very apparent that there's a good trade to be had here.
There's even two possible entries on the 5m chart. One prior to the 60m 50 which was worth a 'punt' with a 15 pip stop and a second after the break of the 60m 50 (dark blue) which went another 80 pips.
On both occasions on the 5m my 5m20 is bove the 15m20 which is above the 60m20
This is why I use these multiple timeframe charts/indicators.
Zoom in for a closer look and the truth shall set you free (according to David Icke, anyway)
