X50 – M5 Trend Following

I take no credit whatsoever for the system as it was cobbled together as follows:
5-3-3 from spud's methods
MACD 5-13-1 from that famous H4 MACD thread - worth the read
Absolute strength indicator from Glenn5t

The rules for entry are as follows:

M5 stochastic 5-3-3 leads the way and must be above or below 50
M5 stochastic 14-3-3 is also in the same window and it's nice to see it moving with the 5-3-3 and for good setups it will also cross 50 before you enter
MACD 5-13-1 must cross the zero line, at least one bar, sometimes two
Absolute strength must also be in agreement and have crossed

The rules for exit - take your profits when they appear and don't get greedy. There will be many many M5 opportunities. If the trade isn't going your way within 5 aan 10 minute, you might consider exiting and waiting for the next opportunity. Egter, it's not a scalping system. The notion is to catch a 5 minute trend and ride it for a while. I look for 30+ pip moves.

Hierdie 3 aanwysers, when in agreement, have me on a string of winners. I try to implement other people's systems with mixed results. This method seems to works consistently for me.

It seems to work with any pair and I have not tried it on other timeframes. I'm attaching a screen shot of a trade entry.

My template is below, along with the indicators. Only the M5 view is for this method...the other timeframes are what i use for those timeframes. I offer it as my way of thanking the many generous folks on this forem who help other people like me.

I'd be interested in suggestions to improve the method and hope that others may find it helpful. I'm quite busy at work these days so I may not respond right away if there are any questions.

EDIT: You may also refer to post #183 for an alternative way to trade x50.

Cheers
CanuckCT