/* The setup is almost similar to the Five-Minute "Momo"
strategy as described by Kathy Lien. In her book High probability trading
seteups for the currency market". So I guess all credits go to her!
Its kinda simple. But provides a good template.
Might be profitable with optimization. Written for your reference.
For this setup on the 5M chart, there are 2 main conditions for entry
1) Price crosses over [20-period EMA]
2a)MACD is positive, no longer than [5 bars ago]
2b)MACD is not positive, but increasing for the [past 5 bars]
3) ENTER {10 pips} above the [20 period EMA]within the [next 5 candles]
a) {before candle has closed }
b) {after candle has closed }
Condtions for Exit
1) {Stop loss} ---> Embedded on OrderSend
2) Exit [half position] when [at amount risked] (entrypoint +stoploss)
3) {Set a trailing stop}
*/
Yeah. Should act as a good template for tweaking and stuff. Just finished writing it, have yet to do any backtesting or forward testing, tell me how you feel!
strategy as described by Kathy Lien. In her book High probability trading
seteups for the currency market". So I guess all credits go to her!
Its kinda simple. But provides a good template.
Might be profitable with optimization. Written for your reference.
For this setup on the 5M chart, there are 2 main conditions for entry
1) Price crosses over [20-period EMA]
2a)MACD is positive, no longer than [5 bars ago]
2b)MACD is not positive, but increasing for the [past 5 bars]
3) ENTER {10 pips} above the [20 period EMA]within the [next 5 candles]
a) {before candle has closed }
b) {after candle has closed }
Condtions for Exit
1) {Stop loss} ---> Embedded on OrderSend
2) Exit [half position] when [at amount risked] (entrypoint +stoploss)
3) {Set a trailing stop}
*/
Yeah. Should act as a good template for tweaking and stuff. Just finished writing it, have yet to do any backtesting or forward testing, tell me how you feel!
