Yes i am. infact i have started trading commodities using this technique along with RSI for reference. i have also backtested this strategy on about 10 equities and results are quite good. i am using 9, 15 and 21 EMA along with 50 EMA.
Does anybody having a better tweak for hourly trading.
Hi Nick ,
Waiting for all the rules to come out still thinking of following
1- When 50 EMA and other WMA gives signal then take trade when 5 bar pivot break in the dirrection , and initial Stop is just prev 5 bar pivot high/low
Trail Stop using some delayed exit strategy like
a- Sh's 15 MA touch
b-trail stop to a pivot of 5 bar once we hit a new high low
c-convert it into a daily timeframe trade
2-Take cues from Daily trend like Daily given signal through Quadra then trade 60 min as above or can reduced to more lower Time frame like 15 min / 10 min to do positional trading
but in above case we miss the oppertunity when a reversal happens as we wait for daily to go above /below 50 EMA
and If we keep trading only hourly not takijng reference from daily then some time we may stuck into a range when daily goes into like march april month
So should find some way to tackle this situation
Any way waiting for all the rules and AFL to come out then we will discuss this in new thread on intraday
I think there should be another thread like "positional using lower time frame"
Regards