Skyplay trading strategy
Before you is a new MTF trading strategy for the currency market, focused on the use of indicators, traditional and custom. The author of the tactic claims that 70% trades of the system are profitable. Let's see if this is the case.
Trading strategy settings
Currency pairs: EURUSD, GBPUSD
Pairs not recommended for work: AUDUSD, pairs with Japanese yen
Operating timefrom 07:00 GMT to 14:00 GMT.
Trading Indicators: Supertrend(20), Breakout box, EMA(20) (yellow, based on highs), EMA(20) (red, based on lows, MACD, True Strength Indicator, Time Zone Trading Indicator
Timeframes: H1 (shows trend), M5 (identifies entry)
Indicators for the 1-hour range:
- Supertrend - shows the trend direction.
- Breakout box - shows the time range of the trade.
Indicators for the 5-minute range:
- EMA(20)
- MACD
- True Strength Indicator
- Time Zone Trading Indicator
Rules of Skyplay trading strategy
We start preparing for a transaction by determining trend on the H1 chart. The Supertrend indicator is used for this purpose. If it is green, we open only long trades, if it is red, we open only short trades. After determining the trend, we move to the 5-minute chart and look for an opportunity to open trades in the direction given by the analysis of the 1-hour chart.
Open only one trade per day.
Rules for opening buy trades
On H1.: Supertrend indicator should be green and pointing upwards. Trading hours: 07:00 -14:00 GMT.
On the M5.: MACD should give a signal to open a long position (green line above the red line), True Strength indicator is greater than 0. When the candle closes above the yellow EMA(20), buy at the opening of the next candle.
Rules for opening trades for sale
On H1.: Supertrend indicator should be red and pointing down. Trading hours: 07:00 -14:00 GMT.
On the M5.: MACD should give a signal to open a short position (green line under the red line), True Strength indicator is less than 0. When the candle closes under the red EMA(20), sell at the opening of the next candle.
Rules for getting out of the deal
Stop Loss: 25 pips, Take Profit: 20 pips. Other variations of these parameters are possible, based on the principles of your work.