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5 EMA (exponetial moving average) scalping system

The 5 EMAs cross

 

Submit by Adrian 01/08/2013

This system works on 5 minutes timeframe. So you must switch to this timeframe

Currency pairs:Eur/USD, GBP/USD .

 

Forex Indicators:

1. EMAs: 5 EMA to the open(red line) & 5 EMA to the close(green line);

2. Stochastic indicator;

3. MACD indicator.

 

Long Entry Rules

4 conditions must be met:

The Stochastic crosses up from the 20 line and is not overbought

The MACD closes higher than the previous value.

The Signal candle closes bullish (indicated by the white color).

The 5 EMAs cross each other.

Notice: Trade signals are only confirmed on closed candles.

 

 

Short Entry Rules

4 conditions must be met:

The Stochastic crosses down from the 80 line and is not oversold

The MACD closes lower than the previous value.

The Signal candle closes bearish (indicated by the black color).

The 5 EMAs cross each other.

Notice: Trade signals are only confirmed on closed candles.

 

Take profit

There are many ways to set Target Profit, based on price action. However I recommend these 2 ways:

Exit the trade when the 5emas cross again (after the first cross at the signal candle)

Exit the trade when there is a reversal pattern. For example, close the LONG trade when you see the SHORT entry pattern and vice versa.

STOP LOSS:

20 pips minimum or the low of the previous candle(for long trade) or the high of the previous candle(for short trade

 

In the pictures below   5 EMA (exponetial moving average) scalping systemin action. Trade examples.

5 EMA (exponetial moving average) scalping system
5 EMA (exponetial moving average) scalping system: Template
5 ema (exponetial moving average) scalpi
compressed file archive 691 Bytes

 

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