is there a way that has good success on a 5 minute chart

[NDarvis]

I am looking for a strategy or indicator on a 5 min chart that has a high success rate is showing which way the 5 min bar will end, for example if it crosses down below a 20 MA it has a high probability to finish as a down bar

Anyone know of any?

 

[Pazienza]

I am looking for a strategy or indicator on a 5 min chart that has a high success rate is showing which way the 5 min bar will end, for example if it crosses down below a 20 MA it has a high probability to finish as a down bar

Anyone know of any?

Nothing has predictive power. Personally I think indicators and MAs are a waste of time, especially for what you're looking at.

I use 5 minute charts (in fact I took a trade this afternoon) but the chart is not really what I'm looking at, the trade is based on the overall situation and the chart is just a view of it.

If you want to trade in that way I think you really need to work on developing an understanding of how the market actually functions, and the best way to do that is to stare at a screen until you can't stand it any longer.

My approach I suppose is what people call price action, although it is not what most people would mean by price action. I've never seen what I do set out anywhere, although all the elements of my approach are freely available. I think I just look at it differently, which as I say is trying to understand what is actually going on in the market.

One thing I would advise and that is as a retail punter you should probably avoid trading forex the way you are talking about. I should think very, very few people make any kind of success at that.

 

[Joey25]

Yes, the success of technical analysis is probably inversely related to the liquidity of the market - and they don't come more liquid than FX.

 

[NVP]

I am looking for a strategy or indicator on a 5 min chart that has a high success rate is showing which way the 5 min bar will end, for example if it crosses down below a 20 MA it has a high probability to finish as a down bar

Anyone know of any?

Ma's are probably the most useful tool after pure price action analysis

and the 20ma (or EMA) are as good as any

Try to combine them with simple price action methods (support/resistance , HH , LL etc etc ) and you have the beginnings of a system :smart:

N