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.
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