27# Lindencourt MX Method 15 TF Trading System

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TF:15 Minutes.

Pairs: All.

 

Indicators:

  1. Simple Moving Average 7, 21, 84, 336

  2. CCI (5)

BUY Trades

The following conditions need to be met on the 15M charts to enter a BUY trade. If any one of the conditions has not been met, there is simply NO TRADE using this method.

Condition 1

The black MA (“MA(7)”) needs to cross above the blue MA (ie, the “MA(21)”) indicating a change in the trend. It is important to wait until the end of the 15M candle forming the cross to confirm that a MA cross has in fact occurred.

Condition 2

At the same time as the two MAs cross above, the CCI(5) also needs to cross above the “0” line at the start of the same 15M candle for there to be a valid BUY trade.

NB. We can allow ± 1 x candle for the two crosses to occur, eg, if the MAs cross on a candle @ 8.00hrs, the CCI cross of the “0” line must occur either on the same price candle at 8.00hrs, or on the 7.45hrs candle, or on the 8.15hrs candle. You would enter only when the two conditions have been met so for the latter it would be an 8.15 hrs entry. If the two crosses occur ± 2 candles apart, eg, one cross at 7.45hrs and the other cross at 8.15 hrs the setup is invalid.


Let’s now put this all together and look at an example BUY trade on a 15M chart.

For this Lindencourt FX Method, we do not take account of the red MA or the RSI Histogram indicator to determine whether to place a trade or not.

In the above example on the USDCAD the MAs crossed between 13.15 and 13.30 hrs GMT. The MA cross was confirmed when the subsequent candle closed, which was at 13.30 hrs. The trade was valid as the CCI line crossed the “0” line between 13.00 and 13.15 hrs. A BUY trade was entered at the start of the 13.45 hrs candle at 1.0780.

The trade was closed when a 15M candle finally closed below the black MA (7) trend line, as well as the CCI crossing back below the “0” level. In this case it was at 1.0900 for +120 pips profit.

Similar to the Lindencourt FX System, the stop loss was placed c.30 pips away from the entry price and was subsequently moved to break even (ie the entry price) as soon as practicable - when the trade was c.20-30 pips in profit.

Exiting with the Lindencourt MX Method

Unlike the Lindencourt FX System exit rules, I tend to exit a Lindencourt FX trade with just two partial exits, because of the increased probability of the trade being a successful trade – exit 50% of the trade when c.25-30 pips in profit (and move the stop loss to break even), and exit the remaining 50% when a candle closes below the MA(7) trend line.

You will notice that in the trade above, the entry point was also the same point for a Lindencourt FX System BUY trade. As I previously mentioned, this will happen on most MX trades.

 

 

SELL Trades

The following conditions need to be met on the 15M charts to enter a SELL trade. If any one of the conditions has not been met, there is simply NO TRADE using this method.

Condition 1

The black MA (“MA(7)”) needs to cross below the blue MA (ie, the “MA(21)”) indicating a change in the trend. It is important to wait until the end of the 15M candle forming the cross to confirm that a MA cross has in fact occurred.

Condition 2

At the same time as the two MAs cross below, the CCI(5) also needs to cross below the “0” line at the start of the same 15M candle for there to be a valid SELL trade.

NB. We can allow ± 1 x candle for the two crosses to occur, eg, if the MAs cross on a candle @ 8.00hrs, the CCI cross of the “0” line must occur either on the same price candle at 8.00hrs, or on the 7.45hrs candle, or on the 8.15hrs candle. You would enter when the two conditions have been met, so for the latter it would be an 8.15 hrs entry. If the two crosses occur ± 2 candles apart, eg one cross at 7.45hrs and the other cross at 8.15 hrs, the setup is invalid and there is no trade using this method (however, there might be a potential setup forming using the Lindencourt FX system rules).

For this Lindencourt FX Method, we do not take account of the red MA or the RSI Histogram indicator to determine whether to place a trade or not.

Let’s now put this all together and look at an example SELL trade on a 15M chart. 

 

 

In the above example on the EURUSD both the CCI and the MAs crossed between 6.30 and 6.45 hrs GMT. The MA cross was confirmed on the close of the 6.45hrs GMT candle, so a SELL trade would have been opened at the start of the 7.00 hrs GMT candle @ 1.4762.

The stop loss on this trade would have been placed c.30 pips away from where the trade was opened and would have been moved to the entry price (ie, break-even price) once the trade was c.30 pips in profit. It would be adviseable to close 50% of the trade at this point too to lock in some profits. The remaining 50% of the trade would have been closed out at the point when a candle had crossed and closed over the black MA line and when the CCI line had also crossed over “0” again @ 1.4650 for a possible +112 pips profit.

Again, you can see from the above chart that the trade entry point was also a standard Lindencourt FX System entry point for a SELL trade too. As the criteria for both of these two trading methods were met, we could expect the trade to have a high probibility of being successful – which it was. 

 

 

 

The above example shows a trade on the GBPUSD on 18 November 2009. The MAs crossed and the CCI crossed within ±1 candle of each other, so it was a valid set up. Entry for this SELL trade was at 1.6796 at 13.30hrs GMT. The trade was closed at 1.6729 for +67 pips profit. A stop loss would have been placed c.30 pips away from the entry price and would have been moved to the entry price once the trade was c.30 pips in profit to ensure a risk free trade. 

 

15 min Forex Strategies

The above example shows a trade on the USDCAD on 12 October 2009. The MA cross occured at 7.45 hrs GMT and the cross was confirmed on the close of the 8.00hrs GMT candle, when the CCI also crossed the “0” line. A SELL trade would have been opened at 8.15 hrs @ 1.0406 with an appropriate stop loss of c. 30 pips away. Once the trade was in profit by c. 30 pips 50% of the trade would have ben closed and the stop loss would have been moved to the entry price to lock in profits and to ensure the remaining 50% of the trade was risk free. The remaining 50% would have been closed at 1.0333 for a potential profit of +73 pips.  

 (This article by Lindencourt Method pages 3-6)

 

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