X50 - M5 trend following (X50 - M5 trend following) - MT4/MT5 resources
I admire people who are able to spot trades on longer time frames. I tried but I wasn't always able to watch the market and I always seemed late. So I'm always looking for a way to trade when I can. If I have a few hours in the morning or evening I want a system that is active and requires me to move the M5 time frame.
This M5 system needed a name and one trader suggested "X50" since the trade was dominated by the 5-3-3 stochastic cross 50.
I take no credit for this system as it was cobbled together as follows:
5-3-3 Methods from spud
MACD 5-13-1 from the famous H4 MACD thread - worth reading
Glenn5t's Absolute Strength Indicator
The competition rules are as follows:
M5 Random 5-3-3 leads and must be above or below 50
The M5 Random 14-3-3 is also in the same window, it would be nice to see it moving with the 5-3-3, and for a good setup it will also span the 50 before you get in
MACD 5-13-1 must cross the zero line, at least one bar, sometimes the two absolute strength must also be consistent and have crossed
Exit rules – cash in profits when they appear, don’t be greedy. There will be many, many M5 opportunities. If the trade doesn't go your way within 5 to 10 minutes, you may consider quitting and waiting for the next opportunity. However, it is not a scalping system. The idea is to catch a 5-minute trend and keep it going for a while. I'm looking for a 30+ pip move.
If these three metrics align, I'm on track to be a series winner. I've tried implementing other people's systems with mixed results. This approach seems to have always worked for me.
It seems to work on any currency pair, but I haven't tried it on other timeframes. I'm attaching a screenshot of the transaction entry.
My template and indicators are as follows. Only the M5 view works with this method... The other timeframes are the ones I use for these. This is my way of thanking the many generous people on the forum who help people like me.
I'm interested in suggestions for improving this method and hope others will find it helpful. I'm quite busy these days, so if I have any questions, I might not reply right away.
Cheers Canuck CT
This M5 system needed a name and one trader suggested "X50" since the trade was dominated by the 5-3-3 stochastic cross 50.
I take no credit for this system as it was cobbled together as follows:
5-3-3 Methods from spud
MACD 5-13-1 from the famous H4 MACD thread - worth reading
Glenn5t's Absolute Strength Indicator
The competition rules are as follows:
M5 Random 5-3-3 leads and must be above or below 50
The M5 Random 14-3-3 is also in the same window, it would be nice to see it moving with the 5-3-3, and for a good setup it will also span the 50 before you get in
MACD 5-13-1 must cross the zero line, at least one bar, sometimes the two absolute strength must also be consistent and have crossed
Exit rules – cash in profits when they appear, don’t be greedy. There will be many, many M5 opportunities. If the trade doesn't go your way within 5 to 10 minutes, you may consider quitting and waiting for the next opportunity. However, it is not a scalping system. The idea is to catch a 5-minute trend and keep it going for a while. I'm looking for a 30+ pip move.
If these three metrics align, I'm on track to be a series winner. I've tried implementing other people's systems with mixed results. This approach seems to have always worked for me.
It seems to work on any currency pair, but I haven't tried it on other timeframes. I'm attaching a screenshot of the transaction entry.
My template and indicators are as follows. Only the M5 view works with this method... The other timeframes are the ones I use for these. This is my way of thanking the many generous people on the forum who help people like me.
I'm interested in suggestions for improving this method and hope others will find it helpful. I'm quite busy these days, so if I have any questions, I might not reply right away.
Cheers Canuck CT
Attachment to original post (6)
📦 Summary of post attachments (29)
Below are all the files shared in the reply (29).
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •