Strategy for quick short-term trading during Asian Session

The intention is to hold a trade in Asian session for as short time as possible and make at least 12 pips every trade by taking a maximum risk of 24 pips.

The driver for this trading will be momentum acceleration triggered by alignment/dislocation in currency pairs' strength.

We should be able to quickly identify or guess the major currency groups going to get stronger or weaker.

After identifying the two currency groups, we need to trade in on currency pairs which generate high daily range.
GBPJPY, GBPNZD, GBPAUD are some of the candidates.

On the chart there will be as few indicators as possible - may be 3 or 4 to assess momentum and Currencies strength/weakness

Momentum is caused by

(a) traders taking profits, building up trades, driving stop-loss or new orders by way of limit positions by liquidity providers or are related to option trades closing cut-off times in Tokyo and NY.

(b) Changes in fundamentals triggered by economic data releases. Volatility could last a couple of hours, a few days and some even weeks depending on the change in the market sentiment.

(c) Blackswan or unknown political or geographical events. It mostly comes by way of surprises. 

For building this system we can only cover (a) and (b) only.

I am looking for an 

*Momentum indicator which can catch the acceleration/deceleration very quickly in short time frame or help us in guessing/forecasting its acceleration/deceleration. It is a tough job to catch spikes.

Volume  can act as a momentum speed indicator but it is unreliable as there is no centralised volume data for forex transactions.

Can a seconds chart catch such kind of spikes? If a seconds chart indicator is available, please provide the link. 

*Currency Strength/Weakness indicator. So many indicators are available. Some use MAs /BB /Donchian /Regression /StandardDeviation / MA-based oscillators etc. to assess volatility.

Any method will do which does not lag and if it lags is at least able to provide guessing/forecasting ability.

Study tools to find patterns and probabilities of recurrence

*an indicator to Identify times when such momentum happens . Is it 5-10 minutes before every hour closing or every half hour closing or every two hour closing, etc and print the same hours by way of advance vertical line for next 5 periods at least in the MT5 chart.

It will be a tool for back-testing (by capturing past moves) and forward-testing (by reproducing the recent historical times as future vertical bars) 

*an indicator to find past average Ideal Holding period for the trade so that the trade is able to work without exposing it to the risk of not more than 24 pips or any pips whose loss is acceptable to the trader. Momentum trading does require a sufficient breathing space for the trade to work. 

*an indicator to help record database or quantify average pips generated by major economic data events for AUD, NZD, JPY (like bank rate, jobs, sales, GDP, housing, balance of payment) 

*an indicator to identify consolidation pattern (in terms of hours) that may exist for major economic data events for currencies other than the Asian currencies (like bank rate, jobs, sales, GDP, housing, balance of payment) prior to the actual event happening after Asian hours end. This will help in avoiding trading during such times or take precautions.

Has anybody got any ideas as to the location of such indicators? Please do let me know and I will do trade and share a simple system here.

I am not a coder and want to share a system which could help traders considering fx trading as a serious business.

Thank you.

Do you know and if you reads some of steve pages he strictly disallow to distribute his code ?
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Whose code?
That indicator is using my centered TMA. So whose code?

Steve's "gems" as he calls it are all only centered_TMA, nothing special on them. He reminds me of one of J.R.R. Tolkien's charas [rolleyes]

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