Multi time frame Simple MACD system
After going through a lot of complex trading systems and indicators.. the system I am using now is very simple and seems to work well.
So I am here to share this system with you. Please provide your views and maybe someone can help me automate this system.
It uses only 1 indicator 3ColorMACD.
3 settings for the 4-hour chart indicator
1) 12,26,9
2) 72,156,54
3) 360,780,270
3 Daily Chart Indicator Settings
1) 12,26,9
2) 60,130,45
3) 240,520,180
I only trade on the 4 hour chart.
Buy when all 3 settings of 3colorMACD turn green. Place a buy stop order at the top of the triggered candle and place a stop loss at the other end of the candle. The target is the same distance as the stop. So it's always 1:1 R:R. When the price moves halfway toward the target, stop moving to the break-even point.
On the 4-hour chart, the MA maps to the daily 200 MA position. So if that MA is within the range of the trade setup (between stop loss and profit target), skip the trade.
Also, if the trade profit target is below 25 pips, skip the trade.
Currency pair exclusion list:-
So I am here to share this system with you. Please provide your views and maybe someone can help me automate this system.
It uses only 1 indicator 3ColorMACD.
3 settings for the 4-hour chart indicator
1) 12,26,9
2) 72,156,54
3) 360,780,270
3 Daily Chart Indicator Settings
1) 12,26,9
2) 60,130,45
3) 240,520,180
I only trade on the 4 hour chart.
Buy when all 3 settings of 3colorMACD turn green. Place a buy stop order at the top of the triggered candle and place a stop loss at the other end of the candle. The target is the same distance as the stop. So it's always 1:1 R:R. When the price moves halfway toward the target, stop moving to the break-even point.
On the 4-hour chart, the MA maps to the daily 200 MA position. So if that MA is within the range of the trade setup (between stop loss and profit target), skip the trade.
Also, if the trade profit target is below 25 pips, skip the trade.
Currency pair exclusion list:-
- US dollars Singapore dollars
- AUD/USD
- euro pound
Updated - September 1, 2013.
A 1 hour and 30 minute template has been added for anyone interested in trading these timeframes. \
Updated - September 12, 2013 <br> Additional templates with different colors can be found here - http://www.forexfactory.com/showthre...69#post6958269
Added indicators for notifications and alerts. MTF MACD signal v1.1.ex4
Update - September 21, 2013
EA - http://www.forexfactory.com/showthre...26#post6978926
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