I have heard of Dhuiraj's method.Could you please illustrate any imp points from the method here, which implied for this trade?
This is his post:
Code:
Hello Pride
You were talking about improvements ... :thumb:
Here's one suggestion
You use the HTF stoch as a filter
You can test the following condition
Take Long trades even when K30 < D30, but both K30 and D30 are less than 20/25 which means the stoch although is bearish but its also showing an oversold condition, so reversal on 5 min stoch can be profitable, also the EMA should keep you on the right side,
The bet is that on the next 30 mins bar the stoch values K30 and D30 should flip.
Opposite for Short trade can use K30 & D30 > 75/80
Hope it helps
Did you use 1415 bar as short? 5 min stoch crossover downwards and ema almost doing the same?Is this valid?
If taken, the trade turned out to be profitable though