This is Yusuf, just wanted to discuss about this simple strategy using 2 EMA Indicators that I have slightly modified for better trade visualization. Such set-ups can be seen immediately once the 80 EMA line crosses the 200 EMA line on any one side and then the price re-test the 80 EMA line and fails to cross on the other side. Also it can be seen that the set-up is more powerful when both the 80 EMA and 200 EMA lines are very closer to each other.
Trade Visualization....
200 EMA Line - When Close is above 200 EMA Line, the line color changes to DarkGreen and when below 200 EMA Line, it changes to Maroon.
80 EMA Line (Dots) - When sloping up, the dor color changes to Blue and when sloping down, it changes to Red.
These color settings are used while setting the codes and helps tremendously while identifying a potential set-ups.
There is a provision to select the EMA Period based on individual trading style and the way one wants to use these indiactors individually. My personal preference is to use a combo of 200 and 80 EMA's together on 144 Tick Chart while trading ES.
This is my first ever development towards any indicator and related trading strategy and I sincerely hope that it help the Trader's Community at NT.
Any comments or further developments are most welcomed.
Sincerely,
Yusuf SHAIKH
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