I'd love to share a 5min egy on this board as I've heard a lot. I have been using this with good effect
I had been going to call it the unfortunate man egy as I'm the most unfortunate bloke with money that I know. I put heaps in Marconi months before it went back, I wager on Amstrad before it launched the devastating E-mailer telephone, I bet something will go up...it'll return. But I'm nicely in profit using this.
I'm not claiming that is first, the holy grail or anything, yet if it's been done before I haven't see it. OK, I'll attempt to keep this short and clear. The egy is an easy PA one based around physiological amounts.
5min chart
Indi's: momentum, signal bar, sweet stains
Any pair (although I only use GBP/USD and EUR/USD)
SELLING: When the price is moving DOWN approaching a round number... let's say 1.5100 (5100, 4200, 3700 etc.. .) Be aware the momentum indi (Can it be down and moving downwards, under 100) note Signal Bars are they all RED. If so wait until price passes 1.500 by 5pips or so then enter 4 SELL lots with a SL of 25.
First TG will be 1.475 (25pips) we then move another 3 lots to BE SL, TG2 is 1.450 (50pips) move SL into 1.475, TG3 is 1.425 (75pips) SL moved to 1.450. Final TG is 1.400 (100 pips) or simply let it run, SL 1.425. So basically we aim 25pips every lot and protect profit by moving our SL 25pips every moment.
Opposite for BUYING, momentum above 100 and moving up (ideally), Signal Bar all GREEN.
Ideally I'd love someone to create an EA of the, should be easy for a programming mastermind.
If there's any interest I'll post indi's/template tommorrow and answer any queries (if I can)