I came across a thread by Lawgirl21 https://www.forexfactory.com/thread/...ossover-system
and I also had this same idea many years ago however using the MACD so I thought I would share my info.
Finding who is in control is the basis of trading for me, if I have this info I can then make a decision to enter the market.
I'm a short term trader and only trade the session, I do NOT hold overnight.
My setup
Tools
1H chart no candles
10min chart
3, 8ema
8,20,5 MACD
Concept
Look for trend on the higher timeframe chart (in my case the 1H)
Longs: 3 above 8 ema, MACD line above signal line
Shorts: 3 below 8 ema, MACD line below signal line
Entries:
Take entries on shorter timeframe (in my case the 10min)
Risk & Exits:
Everyone knows their recommended levels of risk and exits so use common sense as I can't advise on your personal awarness of the markets or risk.
Chart example
Here is a vid I made explaining my concept
and I also had this same idea many years ago however using the MACD so I thought I would share my info.
Finding who is in control is the basis of trading for me, if I have this info I can then make a decision to enter the market.
I'm a short term trader and only trade the session, I do NOT hold overnight.
My setup
Tools
1H chart no candles
10min chart
3, 8ema
8,20,5 MACD
Concept
Look for trend on the higher timeframe chart (in my case the 1H)
Longs: 3 above 8 ema, MACD line above signal line
Shorts: 3 below 8 ema, MACD line below signal line
Entries:
Take entries on shorter timeframe (in my case the 10min)
Risk & Exits:
Everyone knows their recommended levels of risk and exits so use common sense as I can't advise on your personal awarness of the markets or risk.
Chart example
Here is a vid I made explaining my concept
Inserted Video