It can be the wick, the body or even the whole of the candle being above or below the 5ema without touching the ema They are all regarded as the bar having broken the ema by a minimum of 5 pips

4H 5EMA System

You should wait until the close of this current bar to see if the stoch is still in down tick , the previous bar had an up tick on the stoch and therefore it does not qualify a trade, further it was a green bar. If the conditions prevail we will ...

EOD trading system

It does not have to make a new high or low but it has to have the basic conditions of a setup bar.

4H 5EMA System

Shouldn't we be placing our stop above the previous swing high which is 0.7235? it seems as if you have placed it above the trigger bar

EOD trading system

Hi Paulus If you drag the indicator from the list of indicators in the Navigator onto the Stoch or CCI window (not the chart window) it will always stay there and shows the ATR5 for each pair at a glance, please have a look on my chart above. It ...

EOD trading system

In the long run maybe not but short term the results are different. As I mentioned above for the bars closing at 2,6,10 EST, no longs were triggered and the position is still short

4H 5EMA System

Yes the last bar

4H 5EMA System

Hi Sterling Please confirm if this is correct

4H 5EMA System

The bar with the arrow is no longer valid and the bar with the tick sign will be our new setup bar when closed at 2pm EST 6pm GMT

4H 5EMA System

Having looked at your chart you have in fact a correct set up bar and a reversal bar, but that is because your 4hr bars close at a different time as mentioned by fx-char

4H 5EMA System

If a candle is fully below the 5ema low it is still considered as having gone below the ema by the min requirement of 5 pips so it can be a valid setup bar for this purpose,provided that it has made a lower low as well

4H 5EMA System

As it did not make a lower low than the last valid setup bar

4H 5EMA System

The next bar on my chart has not made a lower low so it cannot be a setup bar, it could have been a reversal bar if it had broken the top of setup bar by 5 pips but it did not

4H 5EMA System

ATR — And here is an indicator which shows the ATR in pips Drag it to your Stochastic window to save space and set the period to 5 and multiplier to 1 Chart attached

EOD trading system

Stoch should be above 50 and tick down for shorts

EOD trading system

EURJPY — The same applies to EJ if any one is following it If the current bar closes without triggering the buy stop, it will become the new setup bar

4H 5EMA System

The setup bar is still the one shown with an arrow on my chart. NO LONGS YET If the current 4h bar closes without triggering the buy stop at the top of the setup bar, then the shown setup bar will be invalid and we will look for a new setup bar.

4H 5EMA System

That is correct the last closed 4 hr bar with a low of 1.6994 is the set-up bar so far

4H 5EMA System

Hi Sterling In order to further clarify the rules you may also want to add the following phrase at the end of Rule 4: " and in this case the low of the current set-up bar which is now invalidated is not of any importance and the new set-up bar ...

4H 5EMA System

On the chart after the reversal bar (blue arrow) there is a doji bar, could you explain why it does not qualify as a set up bar. If it did qualify, a short would have been triggered 2 bars after that

4H 5EMA System