5 Min TrendPipper - with Hull, Ema and Pivots (5 Min TrendPipper - with Hull, Ema and
I like this system because:
1. Keep me away from the trend until it starts
2. Get me into new trends early
3. Keep me on top of trends as they develop
4. Give color-coded entry signals
5. Specific exit points
6. Filter out bad signals
7. Small stop loss (10-15 pips)
8. The target price for each trade is 10-50 points.
9. There are few losing trades (if the rules are followed), but active trading most of the time.
10. Small time range, 5 minutes
Visual backtest, GBP/USD yields 40-100 pips daily (late Asia and London session), also tried EURUSD but prefer GU so far.
Today's GBP/USD trade yielded around 88 pips (if all entry points were entered at the right time and exit rules were followed).
Note that it is actually NonLagMA, not Hull - if anyone knows the difference between NonLag and Hull please post it. I thought they were the same - sorry.
Chart indicators and settings:
5 minute chart
20 Exponential Moving Average - Set to Off
Three non-lag MA indicators in separate windows, set to 15, 30 and 50
Set fixed minimum to 1 and fixed maximum to 2 to straighten the indicator
(Note that the NonLag indicator is not yellow now as it would confuse people)
Pivot points, today's open, yesterday's high and low (when I say future pivots, I mean all pivots, mid-pivots, yes highs, lows, open, etc.)
I use 2 pivot indicators, one with yesterday's high/low, today's open, etc. and the automatic pivot indicator shows the pivot lines from previous days but not the highs or lows.
Candle timer, current price (optional)
rule
Trading hours: late Asian session and London session.
Signal (tells us of directional deviation)
1. NonLags all have the same color ( green dragon )
Entering based on signals is risky, the price often deviates from the 20 EMA and we are stopped on pullbacks.
Enter
2. Wait for the price to return to the EMA and close the position in the trading direction and go long above the EMA.
I also prefer colored candles in the right direction.
If we wait for the EMA to reverse, we can get smaller stops, higher probability, and fewer false entries.
3. Check if the color of NonLag is still correct to know the trade direction.
If not, it's a sign that the price trend may not be following the signal. Sometimes it only takes 1 or 2 candles for us to get confirmation.
4. If the price is too close to the pivot point, try not to enter the market
For example, if we want to go long and the price is 4 pips below the daily pivot point, it is not a good entry point.
quit
1. Pivot Points - Take profits at the pivot points of your trades.
Prices are attracted to these points,
(These can be daily PP, R1, 2, 3, S1, 2, 3, midpoint, open, yesterday's high or low) All of these points tend to either stop and reverse, stop and consolidate, or slow, reverse or continue). Either way can be a good exit point, as price is often indecisive at these points.
If the candle is moving strongly towards the pivot point, or if the non-lag is consistently the correct color, consider holding to see if price reaches the next pivot point, especially if it is an intermediate pivot point.
2. (3 NonLags are opposite to transaction colors)
Also consider exiting 2 out of 3 non-lag colors if this happens.
Using this kind of exit usually allows us to get out of a bad trade and either lose a few pips and break even or lose a few pips.
We should rarely see it enter the stop loss level as non-lag will usually indicate that the price is reversing. It's better to exit with a few pip losses and maybe re-enter later.
About 10 - 15 pips, depending on your own judgment, some currency pairs may require 15 pips, others may only require 10 pips. If we enter correctly, price will usually move quickly in our direction, so stop loss is not an issue. But if you try to trade during low volatility or range-bound conditions, you may find that your stop losses are tested more frequently.
If we wait for the EMA retracement to enter, stop loss is rarely considered and if the trade does not follow through, the exit is often a few pips or worst case break even.
Take profits
2 or 3 pips away from the pivot point of your trade.
If the price deviates by 5 points or more, it will usually rise again.
The alternative is to take 50% at the pivot, move to break even, and then let the remainder go to the next pivot.
1. Keep me away from the trend until it starts
2. Get me into new trends early
3. Keep me on top of trends as they develop
4. Give color-coded entry signals
5. Specific exit points
6. Filter out bad signals
7. Small stop loss (10-15 pips)
8. The target price for each trade is 10-50 points.
9. There are few losing trades (if the rules are followed), but active trading most of the time.
10. Small time range, 5 minutes
Visual backtest, GBP/USD yields 40-100 pips daily (late Asia and London session), also tried EURUSD but prefer GU so far.
Today's GBP/USD trade yielded around 88 pips (if all entry points were entered at the right time and exit rules were followed).
Note that it is actually NonLagMA, not Hull - if anyone knows the difference between NonLag and Hull please post it. I thought they were the same - sorry.
Chart indicators and settings:
5 minute chart
20 Exponential Moving Average - Set to Off
Three non-lag MA indicators in separate windows, set to 15, 30 and 50
Set fixed minimum to 1 and fixed maximum to 2 to straighten the indicator
(Note that the NonLag indicator is not yellow now as it would confuse people)
Pivot points, today's open, yesterday's high and low (when I say future pivots, I mean all pivots, mid-pivots, yes highs, lows, open, etc.)
I use 2 pivot indicators, one with yesterday's high/low, today's open, etc. and the automatic pivot indicator shows the pivot lines from previous days but not the highs or lows.
Candle timer, current price (optional)
rule
Trading hours: late Asian session and London session.
Signal (tells us of directional deviation)
1. NonLags all have the same color ( green dragon )
Entering based on signals is risky, the price often deviates from the 20 EMA and we are stopped on pullbacks.
Enter
2. Wait for the price to return to the EMA and close the position in the trading direction and go long above the EMA.
I also prefer colored candles in the right direction.
If we wait for the EMA to reverse, we can get smaller stops, higher probability, and fewer false entries.
3. Check if the color of NonLag is still correct to know the trade direction.
If not, it's a sign that the price trend may not be following the signal. Sometimes it only takes 1 or 2 candles for us to get confirmation.
4. If the price is too close to the pivot point, try not to enter the market
For example, if we want to go long and the price is 4 pips below the daily pivot point, it is not a good entry point.
quit
1. Pivot Points - Take profits at the pivot points of your trades.
Prices are attracted to these points,
(These can be daily PP, R1, 2, 3, S1, 2, 3, midpoint, open, yesterday's high or low) All of these points tend to either stop and reverse, stop and consolidate, or slow, reverse or continue). Either way can be a good exit point, as price is often indecisive at these points.
If the candle is moving strongly towards the pivot point, or if the non-lag is consistently the correct color, consider holding to see if price reaches the next pivot point, especially if it is an intermediate pivot point.
2. (3 NonLags are opposite to transaction colors)
Also consider exiting 2 out of 3 non-lag colors if this happens.
Using this kind of exit usually allows us to get out of a bad trade and either lose a few pips and break even or lose a few pips.
We should rarely see it enter the stop loss level as non-lag will usually indicate that the price is reversing. It's better to exit with a few pip losses and maybe re-enter later.
About 10 - 15 pips, depending on your own judgment, some currency pairs may require 15 pips, others may only require 10 pips. If we enter correctly, price will usually move quickly in our direction, so stop loss is not an issue. But if you try to trade during low volatility or range-bound conditions, you may find that your stop losses are tested more frequently.
If we wait for the EMA retracement to enter, stop loss is rarely considered and if the trade does not follow through, the exit is often a few pips or worst case break even.
Take profits
2 or 3 pips away from the pivot point of your trade.
If the price deviates by 5 points or more, it will usually rise again.
The alternative is to take 50% at the pivot, move to break even, and then let the remainder go to the next pivot.
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