The system is quite simple. The indicator will show 3 different chart timeframes: 15M, 30M and 1H. On each of the 3 charts there is a 60 period SMA.
Step 1 – First Duck
Firstly we check the largest timeframe (1H chart) and see if current prices are above or below the SMA (60).
Step 2 – Second Duck
Then we take a look at the 30M chart. If the position of the price is the same as in the first step, then we get confrmation. In this case we move to the third step, unless we wait.
Step 3 – Third Duck
Finally, we wait on the last chart for the price to cross over the SMA (60), in the same direction as in the higher timeframe charts and get all the 3 Ducks lined up in the same direction. We sell if the prices crosses from up below, buy in the opposite case.
- File: 3-ducks-trading-system-osc-mtf_cf_sysv1.1.mq4
- Size: 14 Kb