Nice system. I use something similar 5ema(close)/8ema(open) on daily charts with confirmation on weekly. What can kill you is range situation. To avoid it, RSI and MTF are good tools. I used to add BBSqueeze also, but a simple ADX>20 can do the job.

TEB 5ema & 12ema and 21 RSI (MTF)

In his other multiple timeframe sto system, Teb said that he finds 15 min or less too crazy. I prefer a more stable 60 min/15 min to a 30 min/5 min combo.

TEB2

Here's another video showing the method with multiple timeframe analysis Analysis of a Quick Trade Belkhayate uses his own Timer indicator to confirm the signals. I found an article describing what I think is a very similar technique. It's all in ...

My own developed benkyalate system

I don't know if i'm allowed to, but I am adding quotes from the Street Smarts book regarding the technique: "When the %K and %D have formed opposing slopes for at least three days, creating a tension between them, place a buy stop one tick above the ...

"Anti" pattern

The system seems to be working on all timeframes. In the article I am refering to in my first post, the "Anti" is used for scalping, but in the "Street Smarts" book, it is applied on Daily charts. Like you, I would prefer longer TF but it depends on ...

"Anti" pattern

Here is another trade I took. I closed at half my profit target because MACD was crossing for short and price and volume were kind of slowing down. I waited for divergence on a higher timeframe (30 min) and then for price closing in a long Gann ...

Top and Bottom M5 Trade

harigp, I'm trying to figure out what are your entry points. If I understand correctly, you entered (2nd green arrow - 1.3619) once you realized price did not go beyond the trendline? What would be your SL and TP levels then? I personally would have ...

Top and Bottom M5 Trade

Here is a nice trade for +20 pips on a 5 min chart. I could have entered after the break of the trendline, but decided to wait for the break of resistance. image

Top and Bottom M5 Trade

Here is why I think it is important to wait for the cross of a trend line or support/resistance after divergence. An entry at the vertical line would have been stopped out. Also ADX seems to be useful to confirm the signal. image

Top and Bottom M5 Trade

This one paid off, but I was not there to enter it. Anyway, I am more watching than trading for real right now. The only hesitation I would have had is that ADX was under 20 when the signal appeared. image

Top and Bottom M5 Trade

I made only +6 pips on my last trade, I entered too late on it. This is another setup that should be nice. Classical divergence on the OSMA and hidden divergence on the MACD lines. Waiting for the 5min signal to short. image

Top and Bottom M5 Trade

Here is a nice setup. Waiting for the 5min chart to show long signal before entering. I am using ADX(14) as a confirmation tool. Same pattern is occuring with NZDUSD right now as it is closely correlated to AUDUSD. image

Top and Bottom M5 Trade

Here are cherry picked examples of what I said in my previous post. image

Top and Bottom M5 Trade

harigp, So you are looking for overall trend on 1hr and then wait for right signal on 5min? Do you use divergence then? I have been trying a few plain classical divergence signals but too many for me were losers. I know there is lots of information ...

Top and Bottom M5 Trade

chngster, I think you are using a MACD indicator with the OSMA histogram wich is different from the MACD histogram (see pic). However, it should give valid divergence signals as well. I would suggest to use a slightly faster MACD like (8,18,6). Of ...

Top and Bottom M5 Trade

Sphinx?

Top and Bottom M5 Trade

Right. You probably got in before I did. Where did you put your stop loss?

Top and Bottom M5 Trade

This one gave me 20 pips loss. Next time I will wait till MACD crosses back 0 line as Paulus suggested. This is one case where the crossing of resistance line would have been a nice confirmation signal. image

Top and Bottom M5 Trade