Forex trading strategy #14 (ADX Power)

I use ADX (3) with EMA 5 and EMA 6 (open) on the chart of both M30 and M15 for scalping.

QQE

To QQE

We don't have many scalping systems. Could you please submit your entire system with graphics to be displayed in the scalping system category?

Thanks for your help.

Marie

Hi QQE,

Sounds interesting, as Marie has requested it would be a pleasure to read your complete strategy in details. But may be I could ask a few quick questions here:

1. Whats strenght of ADX(3) you use to consider it as a Trend Building Indicator, such as for ADX(14) people normally use 20 as the strength

2. Are both the EMAs (5 and 6) plotted on OPEN or just one of them ?

3. Any specific reason to choose OPEN for EMAs while generally we see people using CLOSE for their EMA settings

Thanks.

Well, when the number of ADX is getting smaller, its strength is bigger so no need to determine the strength of market..
I have forgotten to write. It was Ema 5 (close) and Ema 6 (open)
For buy, ADX crosses and Emas cross....
For sell, just do it in an opposite way of buying
QQE

Thanks QQE,

I can see where you're coming from and thanks for sharing the chart.

For some reason, I've always wondered how a couple of EMAs based on (one OPEN and the other one CLOSE) can give us a better entry and / or exit. Perhaps this shows the market sentiment / response from a differnt view / perspective.

Hello Nariman,

Thanks for this simple strategy. It looks good and positive to me. I am going to try it as it is. I will soon post results in the coming days.

Hi

I am new to forex and would like to ask 1 question, what does it mean by for example, Open and Close as stated above for EMAs?

Btw, another question, understand that we should enter only when ADX is above 25 but must it be pointing upwards before we enter the trade?

Thanks
Edwin