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This system requires 3 time scales to be used:
• The first time scale is the 4-hour chart - confirmation.
• The second time scale is 1-hour chart - confirmation.
• The third time scale is the 5-min chart - The signal.
Each if these time scales has a 60 SMA (simple moving average)attached to it.
If on the first time scale (4-hour chart) the price is above the 60 SMA, then you would look to buy.
You then would move to the second time scale(1-hour chart). If this is also above the 60 SMA you have another time scale that lines up, again you will be looking to buy.
(if this was not above the 60 SMA then you would stop and wait for this to go above).
You then move on to the third time scale(5-min chart) which gives you your entry level. This also has to be above the 60 SMA.
The buy signal comes once the previous high on this time frame gets broken, that's your buy signal.
Basically all the time frames must show the price above the 60 SMA or else there will be no signal created.
This system has been created by Andy Perry Captain Currency if you need any more information.
