FXSurf wrote: ↑
Tue Feb 21, 2017 11:39 am
The premise of this system is basically MTF WaveTrends converging/crossing over one another. I've used LMA's in the past for trend confirmation, but recently settled on three EMA values of: 25, 60 and 100.
I primarily use the Daily, 1H and 15M candles for entries, 1H being my preferred.
Simple example: D1 WaveTrend crossing over the W1 on the D1 Candle.
The 1H candle setup I use two sets of EMA's. Normal 25 60 100 and also the daily equivalent of 600 1440 2400.
The 15M Candle has the 1H EMA equivilant and WT's of 15m, 1H and 4H.
If you back test, you'll find similar patterns that occur. Ideally when all three TF's converge at the top or bottom then a prime entry/exits is forming.
As far as trade exits, the WaveTrends will indicate, however that's mostly mentally up to you. Some people want to have a home run, with max pips and some want to build a steady equity curve. Its your call.
The template is set up with all three TF's.