Hello fellow community members. This is a very simple strategy that
looks for a crossover of 5 period EMA applied to closing price over 7
period EMA applied to closing price. One other filter that I have
added to filter out noise is 34 EMA applied to closing price. When
the
price is trading above 34 EMA and the 5 period EMA crosses the 7
period EMA from below to upside, a buy is placed at market on the
closing of the candle. if number of open positions is 0. And if price
is trading below 34 EMA and the 5 period EMA crosses the 7 period EMA
from above to the below side then a sell is placed at market on the
closing of candle if the number of positions opened is 0. Trading
time
frame is 5 minutes, currency pair is EURUSD, amount to trade is 5
million, stop loss is 300 pips and take profit is 10 pips.