Strategy - 5m Using EMA60 (Close)
Hi...
First of all let me tell you that I trade Euro Future Contracts where 1 Tick movement is equal to USD 12.5 and therefore I prefer scalping for 2 to 3 trades at the most per day and attain my target. I aim at achieving minimum 5 Ticks per scalp trade. this strategy may best be suited with 2 or 3 contracts where you have runners to maximise profits. The rules and indicators are as follows.
Indicators:
EMA 5 (Close) - Yellow Thin Line
EMA 20 (Close) - Sienna Thin Line
EMA 60 (Close) - Yellow thick Line
MACD Dots (5,34,5)
Entry Rules:
LONG:
What to look for:
1: MACD Dots crosses from below Zero to above Zero
2: MACD Dots color is Blue at the close of the candle
3: Price closes above EMA 60 (Close)
4: EMA5 > EMA20
SHORT:
What to look for:
1: MACD Dots crosses from above Zero to above Zero
2: MACD Dots color is Red at the close of the candle
3: Price closes below EMA 60 (Close)
4: EMA5 < EMA20
Enter at the open of next candle.
STOP LOSS:
Place any safe Stop Loss you may desire based on the risk you can handle. However exit the trade immediately once EMA 5 crosses EMA 20 in the opposite direction.
Trailing Take Profits:
Once the trade shows green, exit 2 contracts at 5 ticks of profit and auto trail the 3rd one to break-even. If the trend continues, this 3rd one fetches trade for the week.
Test it as changes and improvements are most welcome. This was simple stuff that I observed while checking the PA. Let me know where it fails and we will try to add some filters if at all required to avoid these trades. Hope it helps the community. I am attaching the template that has trigger lines and arrows of enteries added manually on the chart that may help a trader to understand how to enter the trade using this concept. Attached are also the screenshots for both types of enteries.
Thanks for your participation and thanks once again to my friend from New Zealand cja without whose help I would not be in a position to post this simple strategy. Buddy, you are right, I am from Australia but at the moment I am in India to meet my family members.
Take care everybody,
Best regards,
Yusuf SHAIKH
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