5 min MTF Day Trading Strategy

5 min MTF Day Trading Strategy is a trading system based on Exponential moving averages and Bollinger bands. This strategy is multi time frame and therefore we will have two graphs, one of 5 minutes and the other of 60 minutes.
Sessions:London and New York.
Indicators:
Exponential moving average 14 period, close;
Exponential moving average 14 period, close;
Exponential moving average 14 period, close;
Bollinger Bands (20 periods , Deviation 2.0).
Currency pairs: EUR/USD, USD/JPY, GBP/USD, GBP/JPY.
Open 2 charts simultaneously.
Setup chart
5 minute chart: EMA (14 period, close) EMA (21 period, close) EMA (50 period, close)
Bollinger Bands (20 period, 2.0 deviation).
1 hour chart:
EMA (14 period, close) EMA (21 period, close) EMA (50 period, close)
Bollinger Bands (20 period, 2.0 deviation).
Long Entry
Entry 5 minute chart: EMA (14) > EMA (21) EMA (21) > EMA (50) EMA (50) is within the Bollinger Bands
1 hour chart:
EMA (14) > EMA (21) EMA (21) > EMA (50) EMA (50) is within the
Bollinger Bands Current bar is touching EMA (14) or EMA (21)
Current bar closing price is above opening price
Place a BUY trade if all the above conditions are met on both the 5 minute chart and 1 hour chart. Wait for the 5 minute bar to close before taking the trade.
Short Entry
Entry 5 minute chart: EMA (14) < EMA (21) EMA (21) < EMA (50) EMA (50) is within the Bollinger Bands
1 hour chart: EMA (14) < EMA (21) EMA (21) < EMA (50) EMA (50) is within the Bollinger Bands Current bar is touching EMA (14) or EMA (21) Current bar closing price is below opening price
Place a SELLtrade if all the above conditions are met on both the 5 minute chart and 1 hour chart. Wait for the 5 minute bar to close before taking the trade.
EXIT
Exit the trade if the following conditions are no longer met on both the 5 minute and 1 hour chart: EMA (14) > EMA (21) > EMA (50) for buy trade. EMA (14) < EMA (21) < EMA (50) for sell trade. EMA (50) is within the Bollinger Bands.


5 min MTF Day Trading Strategy
5 min MTF Day Trading Strategy
5 min MTF Day Trading Strategy


Related

Scalping Strategies 6429161916319200032

Post a Comment

emo-but-icon

DONATE

Your support is fundamental for the future, to continue sharing the best free strategies and indicators.


item