I came across this method a few months ago and had some success with it. After suffering some bad losses on it, i put it to one side. Im gonna give it another go though as ive been testing out, eliminating the mistakes i made and seems to be working ok again. This method works well in trending markets and not sideways patterns.
Set Chart settings to:
Moving Averages 5EMA and 13EMA.
Use Candlestick view
Open a buy position when 5EMA and crossed 13EMA from below
Open a sell position when 5EMA crosses 13EMA from above
You enter the position once the candle changes on 1hr chart. The difference between 5ema and 13ema should ideally be more than 1pip.
If there has been a crossover and it has produced a gap of more than 100 between the 2 moving averages, dont trade the position.
When the candle changes on the 1hour chart and the price is far from the 5ema, i usually wait for it to come nearer to the moving average before entering the position. at he moment this is guesswork as it can vary.
I normally draw trend lines on the 1hr chart and above to elimate false 'crossovers'. I also use trendlines to help me set the stop loss. There are opportunities for big gains if this comes off but im only going for 20pips at a time.
I will be using this strategy on forex pairs only. Check the chart for an example. I will try and post these trades live as they go from tomorrow
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