How to use MTF T-Line (8 EMA)
T-Line stands for Trigger Line and is 8 EMA, concept invented and taught by American trader Steven Bigalow.
He uses daily 8 EMA and stays in trades as long as price is above or below 8 daily ema. If price closes below or above 8 daily ema in the opposite direction he exits.
I went further with this concept, implementing Multitimeframe 8 ema trading system which is very effective. For that one needs indicator able to plot higher resolution EMAS on lower resolution charts (Moving Average Collection by Wataru Inoue can do that - mql5.com/en/market/product/10156 - better than TradingvIew MTF ma function). But you need a powerful PC (8 GB RAM at least) as many PC freeze when applying MTF indicators especially on many charts.
For exits, reversal or entries you may add Pivots (Camarilla, Fibonacci Pivots seem to be most effective resistance support levels, especially longterm ones yearly, monthly, weekly). But you are free tp use Ichimoku, daily, monthly, weekly highs, lows or whatever level tools convinient.
At least this system will help you to stay on the right side of the market. This sytem works well with gold, oil, sp500, eurusd, btcusd and many other pairs.
Good luck my friends!
He uses daily 8 EMA and stays in trades as long as price is above or below 8 daily ema. If price closes below or above 8 daily ema in the opposite direction he exits.
I went further with this concept, implementing Multitimeframe 8 ema trading system which is very effective. For that one needs indicator able to plot higher resolution EMAS on lower resolution charts (Moving Average Collection by Wataru Inoue can do that - mql5.com/en/market/product/10156 - better than TradingvIew MTF ma function). But you need a powerful PC (8 GB RAM at least) as many PC freeze when applying MTF indicators especially on many charts.
For exits, reversal or entries you may add Pivots (Camarilla, Fibonacci Pivots seem to be most effective resistance support levels, especially longterm ones yearly, monthly, weekly). But you are free tp use Ichimoku, daily, monthly, weekly highs, lows or whatever level tools convinient.
At least this system will help you to stay on the right side of the market. This sytem works well with gold, oil, sp500, eurusd, btcusd and many other pairs.
Good luck my friends!
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