Hi all, I am sure some of you might heard of the folks from BK Forex Kathy Lien. In her book “High Probability Trading Setups for the Currency Market” there is this interesting short-term momentum strategy which is as follow: Rules for Five-Minute momentum Trade (using EMA20 and MACD(12,26,9) Long Trade 1) Look for currency pair to be trading below the 20-period EMA and MACD to be negative 2) Wait for price to cross above the 20-period EMA, make sure that MACD is either in the process of crossing from negative to positive or have crossed into positive territory no longer than 5 bars ago 3) Go long 10 pips above the 20-period EMA 4) Place stop 20 pips below 20-period EMA 5) Sell half of position at entry plus amount risked, move stop on second half to breakeven 6) Trail stop by higher of breakeven or 20-period EMA minus 15 pips It looks simple but I got lost on step 3 as the strategy requires long entry as soon as the price cross above the EMA by 10 pips without waiting for the candle to finish forming. If anyone able to code this, will appreciate if you can share the codes here. Thank you and have a great day ahead.
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