15 min forex trading system with stochastic momentum index
Submit by Nico 10/02/2012
This system is based on Metatrader charting. The tools needed are the following:
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15min EURJPY chart
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Heiken Ashi
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SMI [STOCHASTIC MOMENTUM INDEX by William Blau] First indicator window (Settings: 14,10,14,5) (Levels:+40,-40,0
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Stochastic Oscillator [This one in the second indicator window] (Settings: 10,1,7)Price field: close (MA method: simple (Colours: Main: Magenta and in signal type in none.)Levels: 20,50,80
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MA cross_over signal [arrow] (Settings 5,6)
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VQ [Volatility Quality] indicator by Raff (Setting:timeframe 0 ) (length 5,method 3,smoothing 3,filter 3 )This indicator must be dragged from your navigator window down to your firstindicator window where your SMI is situated.
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Insert a 60 and 200 EMA on price chart.
From 7am GMT you can start looking for the following:Buy or long,the SMI must either be curling up from -40 or the Zero lines, the MA signal[arrow] must show on your chart and Heiken Ashi candle must be white. VQ will show an arrow in the indicator window. Stochastic Oscillator must have moved up from the 20%line. Take profit when the SMI hits the +40 line or the candle hits the 60MA. Could be 30 to 50 pips.
For short or a sell, the SMI must be moving down from +40 line, stochastic must also be onits way down from 80% line and arrow of VQ and arrow of MA must have appeared. Heiken Ashi must have turned red.Take profit when SMI hits the -40 line or a candle hits the 60MA. Another 30 to 50 pips.
Practice this first on a demo and check the TREND on the 1hr and 4 hr charts. Also check where the daily pivot levels are. The daily pivots are support and resistance levels than can cause a reversal of trend. Take profit at these levels. You can always re-enter if it breaks through and opens a new candle above or below the pivot levels. I trade this method personally on the EURJPY pair 15min chart,and bag 100 pips average a day. Please be aware of the risks of forex trading. I suggest this system for daytraders that already have some basic knowledge of forex trading.
In the pictures Easy 15min forex system in action.
easy 15 min forex system: Tempale and Indicators
easy 15 min system Templete
Trading System
easy 15 min system.rar
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Share your opinion, can help everyone to understand the forex strategy.
Comments: 4
- #4
Ba (Wednesday, 24 September 2014 00:02)
pls share the indicators her again
thx - #3
Yinka (Monday, 04 August 2014 10:42)
See AlsoWeekly Economic and Financial Commentary: Less Positive on the U.S. Dollar Outlook: 30 May 2021pls i can't find the system and indicators to download, I can only see the template. pls help upload the arrow indicators?
- #2
Forextradingstrategiesresources (Sunday, 20 October 2013 19:02)
The moving average 200 shows the major trend.
Initial stop loss on the previous swing after 18-22 pips in gain move stop loss at the entry price.
This is a fundamental rule for the management of the position.
Thanks
admin - #1
sergio bentes (Saturday, 19 October 2013 23:34)
Hellol, Im calling from Brasil, and I have a questios.
1) why MA 200? Is there any utility for it?
2) why in a picture above, there are two more MAs?
3) where you set your stop?
I think this strategy is very simple and very efficient too. I think is a very profitable strategy and I will use it. But if you answer this questions, will be very fine. Thanks, thanks.
wavesergiobentes@gmail.com
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StochasticMomentum.rar
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compressed file archive 2.0 KB
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