This strategy was created for 5 minute timeframe and can be used for trading all major pairs. It is heavily based on exponential moving averages and MAX OBOS oscillator. Below you can find more details:
Indicators included in the strategy:
MAX OBOS oscillators with settings 30-40 and 10-20
Rules for long trades (buy)
EMA 20 is greater than EMA 50.
EMA 50 is greater than EMA 200.
Red Max oscillator (10-20) is greater than the blue MAX oscillator (30-40).
Reentry signal could be the pullback of the price towards the rising EMA with previous conditions.
Rules for short trades (sell)
EMA 20 must be less than EMA 50.
EMA 50 must be less than EMA 200.
Red MAX oscillator (10-20) is less than blue MAX oscillator (30-40).
Reentry signal is the pullback of the price towards the rising EMA’s with the previous conditions.
Set your stop loss at 2 pips + spread below or above EMA 50 – depending if long or short.
Take your profit at 8 pips for EURUSD, 6 pips for AUDUSD and 10 pips for GBPUSD.
For buy, EMA 20 is below 50
For sell, EMA 20 is above EMA 50.