MMTS system - page 7
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Indicator?
Maji MTS indicator to test if you wish
Was an indicator posted here (Post #35) and then deleted. I read about it loading, not loading, working, not working. Are they talking about the EA or the indicator? If the indicator is posted can anyone point me to it? Thanks Paul
Time frames
What are the correct time frames for each of the four trendlines ? ( In either GMT or EST )
Thanks
What are the correct time frames for each of the four trendlines ? ( In either GMT or EST ) Thanks
I have made some screenshots of the mks strategy. Hope this helps.
It looks interesting but I didn't find it profitable. The author means that this trendlines are a very powerfull trading tool. I don't know, in case of very small candles (not doji) you often get different signals if you look on charts from different brokers. In many cases the signals are the highest/lowest point. For some times I found it more usefull to insverse the signals.
London Open
The London Open is a very simple set-and-forget-system. We watch the formation of the 2:45, 3:00 and 3:15 EST candle. For example we see the D2 pattern and go short at 3:30 EST. The target is always 30 pips and the stop loss always 50 pips. The patterns you find attached (LondonOpenPatterns.jpg).
I have manually backtestet these patterns on GBPUSD for 5 months and the result is a loss (-330 pips, LondonOpenResult.zip). 5 months is not enough to find out if this system works or not. But if you watch the patterns in the chart it seems to be nonsense mostly. There is only one pattern (D2, 80% winner, LondonOpen_D2.jpg) you can see that there is a significant result. Probably the pattern G1 (LondonOpen_G1.jpg) is significant for do not work never. But if you change the direction of the G1 pattern there were a win of 156, 174 113 and 206 pips in this backtest.
Maybe this system has worked in the past. For now you can see for example that the take profit level (30 pips) is not good. For the D2 pattern you can win often 100 pips and more. On the other hand the 50 pips stop loss makes this system loosing because most of the patterns not work.
time setting added
Thanks Dean.
Does the ebook explain how to let profits run on the trendline trades? After watching the video that Jetheat put together, the trendline method uses a 15-pip take profit and a 20-30 (don't remember exactly) stoploss. He also mentions, when describing the London Open method, that you can use technicals to exit instead of fixed TPs.
What types of technicals is he referring too? Is it general TA, or did Monika develop something special for use with her system?
Thanks,
Kerisdude,
maybe you should buy the book or maybe go try other systems...they're good also
Take a look at https://www.mql5.com/en/forum
The MMTS ebook is there!
Please post current indicator and doc
could someone please post the indicator
Need Help on MKS Trendline Indicator
Hello,
I need help to crete an indicator to draw 4 MKS trendline automatically on 15-minute chart. the trendline start by connecting the "closing price" of the following candles (all in GMT time):
a. The MKS1 trendline : Starts at 2245 hrs candle to 0515 hrs candle(with extension in dotted line)
b. The trendline MKS2: Starts at 2245 hrs candle to 0745 hrs candle (with extension in dotted line)
c. The trendline MKS3: Starts at 0815 hrs candle to 1315 hrs candle(with extension in dotted line)
d. The trendline MKS4: Starts at 1315 candle hrs to 1915 hrs candle (with Extension in dotted line)
Thks in advance for the help guys .
Is anyone familiar with how to interpret and/or trade these lines?