Tools(Indicators) used: Supertrend Indicator from KivancOzbilgic no changes. EMA used twice. Set Length on first EMA at 20 change color to Blue (any you want but I will explain using the settings used). Set Length on second EMA at 50 change color to Yellow CHART 5 MINS and UP but under 1H. Preferred instrument is XAUUSD
Strategy:- We enter a trade upon confirmation of the following conditions. 1. When the supertrend suggests a buy. We confirm entry only when the blue line crosses the yellow from below. If both the conditions are true we place a buy order taking the previous lowest point as stop loss and profit at 1:1 2. When the Supertrend suggests a sell. We confirm entry only when the blue line crosses the yellow line from above. If both the conditions are true we place a sell order taking the previous highest point as stop loss and profit at 1:1.
This is the strategy that I am using and I have been able to close 90% trades in profit. The strategy holds good almost every currency pairs and major cryptos. But I have not tried it on stocks. So reviews and suggestions are welcome to improve the strategy
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Disclaimer: The views expressed are for educational purpose only and do not constitute to trading advice. Please do your own research before acting on the views expressed herein.