This system uses only one indicator - the 60 period Simple Moving Average (SMA) over three different time frames - the 4 hour chart, the 1 hour chart and the 15 minute chart.
The first step is to look at the 4 hour chart and see whether price is above or below the 60 period sma. If it is above it we are looking to buy and if it is below it we are looking to sell.
The second step is to look at the 1 hour chart. If price was above the sma on the 4 hour and price is above the sma on the 1 hour this gives us bullish confirmation. Conversely, if price was below the sma on the 4 hour and below the sma on the 1 hour this gives us bearish confirmation.
The third step is to look at the 15 minute chart. We get our buy entry signal when we having bullish confirmation from the other 2 sma's and price crosses from below to above the 60 period sma on the 15 minute chart. We get our sell entry signal when we have bearish confirmation from the other 2 sma's and price crosses from above the 60 period sma to below the 60 period sma.
Stop Losses: if you are a shorter term trader you may want to use the reaction highs/lows from either the 15 minute or 1 hour chart to position your stop. If you are a longer term trader you may want to use the reaction highs/lows from the 4 hour chart. You might also want to use a fixed stop loss of say 30 pips. If prices moves back to the other side of the sma on the 15 minute chart you might want to cut your losses at 10 pips above that level, particularly if you are a shorter term trader.
Profit Targets: fibonacci levels, pivot points or zones of support and resistance would make good targets to take your profits.