I always set my entries as limit orders around 23% into the body of the candle, 90% hits.

EOD trading system

No it is the top of one bar before the current which has already closed, when the current bar closes in about 1 hour and 45 mins, we move our stop loss and buy stop to the top of this bar. Stop loss closes our short and buy stop gets us in a long ...

4H 5EMA System

Different brokers have different feeds, therefore it is a couple of pips take or give

4H 5EMA System

Buy stop is our entry to go long if it gets there

4H 5EMA System

It is 8 pips above the top of the last closed bar

4H 5EMA System

Stop loss and buy stop should be at 1.5070 at the moment

4H 5EMA System

Hi Bullrock While you are here, have you had any success with using your 1 min data over the past 8 years and testing of a few pairs as you mentioned before?

4H 5EMA System

You cannot do this on MT4 but there are other platforms where you can do it

4H 5EMA System

What is the use of EMAs then?

4H 5EMA System

Your chart is the ame as mine and what tonirai posted above. As to your question, the last closed bar was a setup bar until this current bar made a higher high, now this will be our setup bar when closed

4H 5EMA System

That is exactly what I see. My point was that the high of bar # 5 should not be compared to the high of bar #4 as this bar was not a valid setup bar and in any event bar #5 was a setup bar whether made a higher high, lower high or equal high with #4

4H 5EMA System

Which one is the 3 bars back? The long one which has gone through both EMAs? If so, was that not an invalid setup bar which should be ignored?

4H 5EMA System

That was a good analogy

4H 5EMA System

When setup bar is formed and closed, we move the stop loss and stop reverse to 5 pips+spread above it, remember these are buy orders so you should add spread. We also place a stop loss for the long entry 5 pips below the low of setup bar previous ...

4H 5EMA System

That is correct, not yet

4H 5EMA System

When this current bar closes and it has pierced the lower ema it will be the setup bar to go long and our stop will move on its top

4H 5EMA System

On the attached chart, bar 1 is setup and bar 2 is reversal Ignore the lines on the chart

4H 5EMA System

Reversal bar has already closed, that is why we have the reverse order in place

4H 5EMA System

That is correct except that the 2nd. order (reverse entry) will be placed after revesal bar closes

4H 5EMA System

We can also use a broker with 1 hour lag (IBFX) and then we have a much smoother curve. Sleep window 2 hours, lol, anybody interested.

4H 5EMA System