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5 Min MA Intraday Trading System

This document outlines an intraday trading system using 5-minute candlestick charts of currency pairs. It uses the 10 and 21 exponential moving averages (EMAs) along with the 50 simple moving average (SMA) to identify trading opportunities. Trades are entered with limit orders 1-2 pips from the 21 EMA when the 50 SMA angle is above 20 degrees and the 21 EMA crosses above the 10 degree line on the SMA angle indicator. Stop losses are placed 6 pips away and moved to breakeven after 6 pips of profit. Profits are targeted at 10-15 pips. Additional rules limit trades to the first two setups in London and US sessions per pair and stop trading after two

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Naleep Gupta
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810 views2 pages

5 Min MA Intraday Trading System

This document outlines an intraday trading system using 5-minute candlestick charts of currency pairs. It uses the 10 and 21 exponential moving averages (EMAs) along with the 50 simple moving average (SMA) to identify trading opportunities. Trades are entered with limit orders 1-2 pips from the 21 EMA when the 50 SMA angle is above 20 degrees and the 21 EMA crosses above the 10 degree line on the SMA angle indicator. Stop losses are placed 6 pips away and moved to breakeven after 6 pips of profit. Profits are targeted at 10-15 pips. Additional rules limit trades to the first two setups in London and US sessions per pair and stop trading after two

Uploaded by

Naleep Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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5 MINUTE EMA INTRADAY TRADING SYSTEM

1.

The setup:

1.1

5 min candle chart - EUR$, GBP$ & JPY$ pairs

1.2

10 & 21 EMA & 50 SMA

1.3

SMAangle & PhillipNelexpert indicator (post #399 on page 27 of thread) downloaded


from thread & 21 EMA based on first indicator data on this indicator

1.4

The EJ_CandleTime(1)H indicator from the 4h MACD thread to look at the time left
before closure of current candle.

2.

The criteria:

2.1

Wait for the 50SMA angle to be more that 20 degree (indicator will show bars more
than 20 value)

2.2

Wait for 21EMA on SMAangle indicator to cross the 10 degree line

2.3

Wait for price to pull back through 10EMA to 21EMA

3.

The trade setup:

3.1

Buy limit order:


Criteria 2.1-3 are met
When price is close to 10EMA, put buy limit order just 1-2 pips above
21EMA

3.2

Sell limit order:


Criteria 2.1-3 are met
When price is close to 10EMA, put sell limit order just 1-2 pip below
21EMA

3.3

If not possible, use market order to enter 1-2 pips from 21 EMA

3.4

Put Stop Loss 6+spread pips away

3.5

Move stop loss to breakeven after 6 pips gain is on

3.6

No Trailing Stop Loss

3.7

Put/activate profit limit on 10-15 pips

4.

Additional rules:

4.1

Only take the first two trade set-up in the London trade time and the first two trade setup in the USA trade time per pair

4.2

Consider the first trade set-up after more than 20 degree 50SMA when price have a
pull back to 10EMA price tends to bounce off 10EMA first

4.2

After two consecutive losses, stop trading for the day

4.3

If there is a close of a candle above the 21EMA in case of a short trade, consider
taking profit quickly or take break-even trade. Consider not taking any more trades or
wait for pull back from 50SMA

4.4

If there is a close of a candle below the 21EMA in case of a long trade, consider taking
profit quickly or taking break-even trade. Consider not taking any more trades or wait
for pull back from 50SMA

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