5 sma简单方案 (5 sma simple scheme)

Hi,

here's my extremely simple trading scheme, still in backtesting, of course, but still i would like to share it with You and to get some feedback and suggestions.

So here's the setup:

Daily chart

10 day SMA, applied to the high, green
20 day SMA, applied to the low, green

10 day SMA, applied to the low, red
20 day SMA, applied to the high, red

5 day SMA, applied to the close, yellow

Go long when the red lines are between the green lines and the yellow line is above the upper green line

Go short when green lines are between the red lines and the yellow line is below the lower red line

Exit when the conditions fail to exist

Should look like on the screenshot: http://turm0il.planet.ee/chrt.GIF

So please, let me know what You think.... And also, where would You place the stops/targets, considering its a daily system? And when exactly in Your opinion would be the best time in day to check on the positions? I was thinking right before the London open. Any suggestions?

Best wishes, Trippie