MY STOCHASTIC + ELLIOT WAVE + EMA TRADING STRATEGY Time frame: 1 Hour Currencies USD/JPY GBP/JPY EUR/JPY NZD/JPY AUD/JPY NZD/USD AUD/USD These are the most trending currency pairs to ensure high success rates since this is a trend based strategy. Impulsive waves in the direction of the trend are traded at overbought or oversold levels as shown by the Stochastic Indicator Indicators used Stochastic %k 5, %d 3 slowing 3 method: simple Price field:low/high 2.”Stochastic Arrow Alert MT5” for alerts (search the indicator as written) Entry Signal conditions for buys Stochastic cross from 35.5 and below The crossover swing low is higher than the previous swing low (which must have also been 35.5 and below) by at least 1.5 Pips for the all pairs except GBP/JPY & 2.5 Pips for the GBP/JPY. Only candles in the swing lows are considered, not other candles in between. Place a buy stop at the last swing high (64.5 and above) Risk:Reward Ratio of 1:1. Stop loss from the last swing high to to the last swing low, so it’s variable Consider all candles that fall below the Stochastic 35.5 line before the lines cross for the swing low. NB Wait for a candle close while the lines are below 34.5 or above 64.5 so that the trade signal is valid and the indicator doesn’t repaint in case of price reversal Entry Signal for sells Stochastic cross from 64.5 and above 3. The crossover swing high is lower than the previous swing high (which must have also been 64.5 and above) by at least 1.5 Pips for the all pairs except the GBP/JPY & 2.5 Pips for the GBP/JPY. Only candles in the swing highs are considered, not other candles in between. Place a sell stop at the last swing low (34.5 and below) Risk:Reward Ratio of 1:1. Stop loss from the last swing low to to the last swing high, so it’s variable Consider all candles that fall above Stochastic the 64.5 line before the lines cross for the swing high. NB Wait for a candle close while the lines are below 34.5 or above 64.5 so that the trade signal is valid and the indicator doesn’t repaint in case of price reversal A trade remains active until a trade in the opposite direction is initiated. A trade signal not yet initiated remains active even after a trade in the opposite direction is initiated just in case price reverses. Cancel if take profit is hit or trailing stop is hit. A trade signal not yet initiated is canceled whenever a new trade signal is generated that will initiated before the previous trade signal.Multiple trade signals and trades in the same direction can be initiated If a buy signal occurs when price is above the previous buy entry then start another trade count again and vice versa for sell signals On Fridays trade entries that are not initiated by 15:00 GMT are cancelled. All Trades are closed 1 hour before the close of market on Fridays. Stop Losses of the Sell Trades are by Bid from the entry, and vice versa for Buy trades. Trailing stop of 80% of Take Profit Minimum Pips between entry and SL is 20 PiPs, if the number of Pips between the entry and swing low or high is less than 20 Pips then the entry is 20 Pips from the swing high for shorts, 20 Pips from the swing low for longs For all pairs except the GBP/JPY trades where the range between the entry and the swing high/low is large (>45 Pips) then TP is 45 Pips, SL remains the same. For the GBP/JPY it is 60 Pips. Eg if the range between the swing high and low is 64 Pips, maintain the SL but TP is 45 Pips N/B : On Fridays the max TP for GBP/JPY is 40 Pips and 30 Pips for all other pairs. N/B : If a trade hits sl and price rises or falls again to the entry level then repeat the trade unless the trailing stop loss is hit in the first trade. Repeat a trade a maximum of once. The EA must constantly check for current price so that if that if a new swing high or low is created then the EA modifies the trade entry and stop loss and recalculates the lot size The percentage risk should be modifiable , default 1.5, lots calculated to the nearest microlot. The risk per trade must be a fixed 1.5 per trade calculated from the equity size at the beginning of each month and always calculated from the number of Pips from Swing high and low for each trade as from the chart ( even if the TP will be 45 or 60 Pips for trades where number of Pips between swing high and low is high) The take profit must include the spread.