5 Minute Intraday Trading System

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1. THE CHART SETUP:

1.1 Charts & pairs:

1.1.1 5 min candle chart

1.1.2 The following 4 pairs:

· EUR$

· GBP$

· JPY$

· EURJPY

1.2.1 EMA = 10 & 21

1.2.2 SMA = 50

1.3 SMAangle window:

1.3.1 SMAangle
indicato
r

1.3.2 21 EMA based on first indicator data overlaying this indicator
(see Attachment A)

1.3.3 Put the following horizontal lines on the SMAangle
indicator
:

· 0.1,
& -0.1, on the EURU$, GBPU$ & U$JPY pairs

· 0.15
& -0.15 on the EURJPY pair

· 0.4
& -0.4 on all 4 pairs

1.4 ADX window:

1.4.1 Open a ADX indicator in separate window set @ 13

1.4.2 Overlay it with an lsma 3 indicator from HelloDollie safe pips
thread

2. THE TRADE CRITERIA:

Criterion 1: 50SMA angle to be more that 20
degree

2.1.1 It is a subjective measurement and it is not an accurate
measurement.

2.1.2 It was used in the beginning of the thread) and we changed late to the 21MA
on the

SMAangle indicator as a guide (as explained in Criterion 2).

2.1.3 But it is still very applicable for this system because the angle of the
50MA is the

main principle behind the system

Criterion 2: 21EMA on SMAangle indicator to cross the 0.1 or
-0.1/0.15 or -0.15 line
.

2.2.1 The area between the 0.1 and -0.1 lines is called the no-trade
zone.

2.2.2 No trades to be taken if 21MA is in the no-trade zone.

Criterion 3: The price to pull back through 10EMA to
21EMA

2.3.1 The area between 10MA & 21MA is called the fire or war
zone

Criterion 4: The price should stay on the correct side of the small
resistance/support line

2.4.1 Draw (Appendix B) a small trend line from the:

Last High or Low before the cross of the 51MA

Next high/s or low/s to form a small resistance/support line

2.5 Optional – SMAangle bars to be higher or lower than 0.2 or -0.2 line (I don’t use it any more

– the
small resistance/support line is more accurate)

My Rules 5 min intra-day Basic rules 4 e

5 Minute Intraday Trading System

THE TRADE
SET-UP:

Rule 1: Small trend line
rule
:

3.1.1 Ensure that the price and candles stay on the correct side of the small
trend line.

3.1.2 Any break-out cancels the set-up/possible trades

Rule 2: Specific manner of pullback of candles towards war
zone:

3.2.1 Smooth and flat pullback of candles – no steep
pullback

3.2.2 Smooth rounding of top/bottom (wave-like pullbacks) – no sharp V shape
change of direction

3.2.3 Ascending of descending triangle being formed between resistance/support
level and small trend line drawn

Rule 3: Pullback into war
zone:

3.3.1 Identify the first candle to enter the war zone towards
21MA

3.3.2 Wait for second/more candle to pull back from 21MA towards
10MA

3.3.3 Enter the trade on the pullback a few pips away from the
21MA

Rule 4: Additional ADX rule (not yet
fully tested):

3.4.1 For a long trade, the positive line (Blue) must be above the negative line
(Red) with Isma line crossed the red line to go in between Blue and red line

3.4.2 For a short trade, the negative line (Red) must be above the positive line
(Blue) with Isma line crossed the blue line to go in between Blue and red line.

3.4.3 The trend line must be above 25 level

3.4.4 If the ratio between the positive and negative line is almost 2:1, expect
the pullback only up to the 10MA and enter the trade.

5 Minute Intraday Trading System

4. THE
TRADE:

4.1 Use a
market order to enter within the war zone as specify

4.2 Put Stop Loss 6+spread pips away

4.3 Move stop loss to breakeven after a
clean 6 pips gain/profit (brokerage/spread included

4.4 No Trailing
Stop Loss

4.5 Put/activate profit
limit on 10-15 pips

4.6 There are plenty of chances to get
in a trade:

4.6.1 Don’t try to trade every signal that might work

4.6.2 Wait for the good setup to occur

4.6.3 Wait for the High probability ones

4.6.4 Rather miss an opportunity than to get involve in a bad/wrong
set-up

4.7 The Entry looks:

4.7.1 Small candles

4.7.2 Flat type of pull back

4.7.3 Some sort of Resistance (up trend) and
Support (down trend) to form a small

acsending or decending triangle awaiting a breakout within the war
zone.

(Adapted from Original developer – Phillip Nel from Forex
Faxctory)

5 Minute Intraday Trading System

5 Minute Intraday Trading System

Forex My Rules 5 min intra-day Additional guid

My Rules 5 min intra-day Additional guid

Share your opinion, can help everyone to understand the forex strategy.

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window