The Timeframer Exodus is the quintessential multiple timeframe strategy. It will enter you live at market on the 5 minute chart whilst making use of the hourly, four-hourly and daily charts for guidance.
We are bullish when price is above the 50MA on each of M5, H1, H4 and D1.
The opposite is also true: the algorithm sells short if price is below the 4 timeframe moving averages.
Target and stop are set on entry and are constants.
When target is hit and the position is closed there is a good chance that entry criteria for the same direction is still satisfied thus another trade is executed on the next tick.
We want to trade breakouts early not once the move has already happened and we have already taken our profit!
The reset flag has been introduced as a final check to avoid this scenario. When a trade opens the flag is set to 0. When this trade is closed the flag is still 0 so no further trades will be opened until price moves to the other side of the M5 50SMA, at which point our reset flag is set to 1.