I would like to share to you an excellent method for trading BTCUSD on neutral and long positions. I use a MA30 (moving average of 30 periods) + Elder's Bull and Bear Power indicators on H4 or D.
Buy process: When MA30 changes trend from downtrend to uptrend + candlestick is over the MA30 + both indicators are above 0 level = BUY Sell process / Short operation: When MA30 changes trend from uptrend to downtrend + candlestick is below the MA30 + both indicators are below 0 level = SELL/SHORT
In the screenshot you have an example of buy but if you "make it yours" you will have all the backtesting with buy/sell. Enjoy it!
Already tested on BTCUSD on BTC-e and H4 and D from 2012 to today with excellent results and with LTCUSD with not good results.
Update 1: kakola has designed an indicator combining Elder's indicators with a crossover pastebin.com/sq2jbqBB Update 2: For BTC in daily works but you have to use also TA to close positions better. For LTC doesn't work properly... I will backtest more altcoins. Update 3: NMC works very profitable also in H4.
That was quick :p
Filtering with ma is an ok practice but you need more variables to take a trade.
magarto
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OMG! Thank you soooooo much!!!! I love it. Do you know how to write it in MT4 as an indicator? Also if it would be possible to have it as an alert in application and on mobile (as push notification to MT4 for Android which is a feature of last MT4) I will really thank you and once I recover from my losts I will donate to you.
IvanLabrie
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I'm using an MACD mq4 that has alerts on crossovers, it's a good warning sign.
magarto
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I used it a long time ago but I think that there can be better systems
IvanLabrie
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Oh definitely, I only use it to confirm some moves, I use 6 indicators as well as candlestick patterns and s/r analysis.
magarto
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Same here, as you can see in my ideas, but for cryptos I don't rely much on TA but this system is awesome for me
IvanLabrie
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LTC or BTC work well with TA, alt coins are more iffy. (more manipulation, lower vol, hence less reliable data) :p