Intraday M15 EMA & RSI system

[SilverCaptain 21]

I chose the "EMA & RSI Intraday M15 system" because I couldn't think of a better title.

I'm looking for help from everyone on this system, so please don't be shy about sharing your screenshots and experience. Let's make this a workable system.

Someone once told me that it was difficult to consistently make 10 pips per day. I believe it is possible. In my search for a system that would give me 10 pips per day, I came across this one. Please contribute to the improvement of this system.

I don't want to clog the system with too many indicators, but if you think one would be useful, please share it and let us all test it.

I don't know much about coding when it comes to EA on this system. We'll think about it later.

Disclaimer: I am simply sharing a system with you; trade at your own risk.

OK. So here's how it works:

1. EURUSD M15. You can experiment with other currencies at your own risk.

2. EMA 5 and 12 were used to close.

3. RSI 7 with a level of 50.

LONG: when the EMA 5 crosses the UP axis of the EMA 12 and the RSI is greater than 50.

SHORT; when the EMA 5 crosses below the EMA 12 and the RSI is less than 50.

Profit target: 10-30 pips

Stoploss: 20 pips or the low of the previous candle if long, or the high of the previous candle if short.

[FlameSmith 62]

Saving for future.  Please share your experiences.

[RitoParty 1]

Yes, it is a technological concept.
From novice to expert.
Thank you for your contribution.

[FlameSmith 62]

1 minute ago, RitoParty said:

Yes, it is a technological concept.
From novice to expert.
Thank you for your contribution.

This is a fantastic response. At the very least, someone noticed.

I'll add a few more screenshots later. Hopefully, this will pique everyone's interest in sharing their experiences.

[ZariaPr3tty 58]

It will not work; don't waste your time or life on it; instead, learn to read charts and you will make money.

[FlameSmith 62]

1 minute ago, ZariaPr3tty said:

It will not work; don't waste your time or life on it; instead, learn to read charts and you will make money.

I assume you meant to say, "Forget the EA."

I mean, I'm reading charts from where I'm standing, right?

Or did you mean to say that the EMA and RSI should be ignored as well?

[CouchFattyFriend 9]

I have to say, this was the first of my trading strategies, and it worked well at first, but not for long...

Try your strategy on 1 hour and change your EMA to 13 and 50 or something longer and RSI period more than 30's...that will give you more reliable data...or if you want to stick to RSI period of 7, go to a level of 30 for selling and 70 for buying...

Best of luck!

[SykPepperoni 51]

I use a similar approach. trades on the 16th of September, 2011.

It has to be the first candle above 50 for me, and I use RSI 8 and EMA100 to determine trend.

Cheers

[FlameSmith 62]

Just now, SykPepperoni said:

I use a similar approach. trades on the 16th of September, 2011.

It has to be the first candle above 50 for me, and I use RSI 8 and EMA100 to determine trend.

Cheers

Thank you, I welcome your thoughts and ideas. Please keep spreading the word. Let us learn from one another's experiences.

[FlameSmith 62]

2 minutes ago, CouchFattyFriend said:

I have to say, this was the first of my trading strategies, and it worked well at first, but not for long...

Try your strategy on 1 hour and change your EMA to 13 and 50 or something longer and RSI period more than 30's...that will give you more reliable data...or if you want to stick to RSI period of 7, go to a level of 30 for selling and 70 for buying...

Best of luck!

I will test these settings as well and will post my findings.