#3 The Best of EMA Crosses on S/R

Indrek,
are you able to explain how you read the TRO crossover indicator that you mentioned recently. The UP and DOWN arrows are obvious but I have seen arrows pointing down to the left and down to the right. Do you know what these are? Also can it tell you WHEN the crossover occurred (as a normal crossover indicator would with an UP or DOWN arrow appearing on the chart at the moment it happens)or can it only inform you that a crossover has happened in a particular direction. Hope you understand what I am asking. Thanks
Andy

Anyone who is trading on the basis of MA crosses: a new multi-timeframe indicator TRO_MM_MAXover is available at www.kreslik.com. This is the best that I have ever seen!
Indrek

Hi yantz,
I use those settings for all trades on all charts (H1, H4, D1).
Indrek

Hi Andy,

Its Bill Williams Accelerator Oscillator. You'll find it on MT4 platform.

Regards,
Edward

Hi, can anyone please tell me what the AC indicator is on the charts on the first pages screen shots, and where I can find it.
thanks
Andy

Hi yantz,
As I wrote before, I use this system on my own way - I wait for a signal from H1 chart and then check if the trend is the same at Daily chart.
To filter out bad trades, I use ADX (14), Stoch (14,2,2) and CCI (14). I take a long trade only if +DI>-DI, Stoch>50 and CCI>0 and short trade if -DI>+DI, Stoch<50 and CCI<0. So, it is a combination of strategies found in this Forum.
I trade H1, H4 and Daily charts. At first, I tried also M15 and even M5 but those are too frustrating for me. Besides, I cannot find any sense in scalping 5-10 pips per trade - I try to catch trades that give at least 50 pips and on daily chart even 400-500 pips.
Indrek

Hi Barrett,

Double check that you have EMA Crossover Signal.mq4 in the right folder: Experts/indicators. Drag the indicator over to the charts, the arrows as well as the alert signal should appear immediately.
Let me know if you still can't make it work.

Thomas

yantz,
I am afraid, the system is vice versa with the one that you describe. First, you get a signal from lower time frame (M15 originally) and then you check if the trend on the above time frame (H1) is the same. It is the only logical way because when MAs cross at H1 then they have already crossed at M15.
My system is: I get the signal from H1 and if the direction of movement matches with Daily then I do not set any pending orders but enter at once.
Indrek

Hello everybody,
My first tests show that this strategy works extremely well if to use H1 and daily charts instead of M15 and H1. You catch the signal from hourly chart and then check the daily one. The good thing is that you have less trades with more pips.
I think, the best stop loss is recent swing high/low. For exit I try to use a pivot point but if the next support/resistance line is too close or too far then I just use 1:1 risk-reward ratio - in this case TP = SL.
I have added some indicators to be sure of the trend and worked out my own template for trading.
One more thing that I have thought about... This system as any gives the best result if you try to take all or at least majority of possible trades during a day (I monitor 10 pairs at a time). The secret of success to have far more profitable trades than loosing trades. If you want to avoid loosing trades then my suggestion is - stay away from trading :)))
Regards,
Indrek

Hi Edward,James:

Pls. help! I've installed everything in MT4, in indicators folder and the template in the correct template folder, I'm not getting any down / up arrows either on the 15m tf or 1h tf? Do I need to do something else here? It seems the arrows are a key in this strategy, but am not geting them at all! Please help! Thanks.

-Barrett

hi james! from my understanding of the written rules, i've written a quick ea for backtesting purposes. the rules set in the ea are as follows:

1. plot daily pivot & s&r levels using previous bar in H1
2. wait for 5 ema (close) to cross 6 ema (open) in H1
3. once crossed, wait for 5 ema (close) to cross 6 ema (open) in M15 in the same direction as in H1 for maximum 3 bars since crossing in H1 occurred.
4. if no crossing within 3 bars in M15, then go back to 1.
5. if crossed, set buy stop at +5 pips above current ask, vice versa for sell stop.
6. once executed for buy, set stop loss at below pivot/s/r level -5 pips, take profit at above level -5 pips. vice versa for sell.
7. if time crosses midnight, a new daily pivot & s&r levels will be plotted and old ones removed.

from what i understand, there is all to it. i have a feeling i'm missing something as the result is not so promising. anyway this is what is returned for EURUSD pair:
period Jan-Dec 2000
107 trades
60 winners, 47 losers
av. winners 39.45 pips, highest winner 129.48 pips
av losers 58.97 pips, highest loser 151.18 pips <- my goodness!

i have not scan thru using visual mode because of time constraint. even the ea itself was written very very quickly.

yantz

Well strategy is based on cross of 5 and 6 EMA with time frame of H1 and M15 as a lack of my english. I can not see anything to use Ema 20.
Addition to that, You can find MTF Ema cross on google. You do not need to change graphics, so you can see the position on one graphic.

Have agood day
QQE

Sorry, the Patrick's strategy is #4, of course, as this is #3. But they are two sides of the one and the same coin.
Indrek

Thomas,
Thank you for your reply. Still, I prefer to set my SL at recent swing high/low (on the chart that I use, here it should be M15). This seems to be more logical if I try to catch the trend.
The idea of this strategy of James is quite similar to the one filed by Patrick - see #3 under 'Forex systems with MT4 custom indicators'. I think the truth is somewhere between those :)
Indrek

Hi Indrek and all,

As per my understanding of the rules, the following indicators are used for:
BreakOut-EAGLE_indicator - to highlight the 8 hour period during which trades should be taken.

Pivot Points - to set exits at support/resistance levels as suggested by the rules.

Demark_trend and Mouteki - same as pivots.
For other indicators I don't know :)

A stop is at previous Support/Resistant lines (found in comments by James).
So, basically we need all these support/resistance tools to teach us how to trade with S/R levels. You may want to choose one or two recommended indicators and learn to trade by support/resistance levels.