Netsrac SR Dashboard - Scalping the Trend

Netsrac SR Dashboard - Scalping the Trend

20 May 2019, 21:11
Carsten Pflug
0
48

This is the fifth episode of a blog series on how to use the „Netsrac SR Dashboard" (SRD) to find trading opportunities. The SRD is designed to reduce your time in front of the monitor. It can find many setups for us. All we have to do is trade those setups.

I have been asked by some people how to operate the dashboard correctly. That's why I want to start this blog series. We will cover the following topics:

What do we need? We need the "Netsrac SR Dashboard" - which you can find here in full version. Or you can use the free but limited version here


Scalping the Short-Term Trend


Trading style

We want to trade with the trend. So we are trend traders. We use three different timeframes and trade only, if the two bigger timeframes are down and if the smallest timeframe is changed to down. Thats all. We use M1, M5 and M30 for this setup.


Prepare SR dashboard

We want to monitor the Trends in three timeframes. So we use the section "TREND". Nothing more.

Variable in SR Dashboard-OptionsValue
 Use Trend section true
 Use (A)DR section false
 Use RSI section false
 Use Moving Average section false
 Use Pivot section false
 Use High/Low section false
 Use PA section false


Setting Trend section

These are the settings in this section:

Variable in SR Dashboard-OptionsValue
Timeframe 11 Minute
Score "Trend Down" Timeframe 1-1
Score "Trend Change" in Timeframe 1-1
Timeframe 25 Minute
Score "Trend Down" Timeframe 1-1
Timeframe 330 Minute
Score "Trend Down" Timeframe 3-1

So if all our conditions are met, we get a overall score of -4. So let us set the alert for this threshold.

Variable in SR Dashboard-OptionsValue
Alert, if score is smaller or equal to ...-4
Use Screen-Alerttrue 

With this settings, we get an alert, when a bearish setup occured (Score -4).

Let's take a look at our dashboard now:


No setup at the moment. If we click on AUDCAD, we see a nice short trend.

It is a nice downtrend - but to have a setup, we need a pullback and then a "get back to trend" (Trend change in M1 to down). So we have to wait.

Now a alert is generated in NZDCHF. Lets take a look:

We click on NZDCHF and see whats happened:


That's all. Now we have configured our SR Dashboard to Scalp the short term trend. Please find the setfile in the attachements.

Get the full version: https://www.mql5.com/en/market/product/34855

Get the lite version: https://www.mql5.com/en/market/product/34863

Good Luck and green pips to you!



Share it with friends: