Elite indicators :) - page 335
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How to understand: breakout happened and it is the time to close the trades, or it is not breakout and just some support/resistance lines were broken?
I used MaksiGen indicator (see this post to download): breakout levels are dotted blue/red lines of this indicator. As those lines are support/resistance lines by nature so it is repainted. I mean: on M1 timeframe - those breakout levels are moved to any side (up or down). because they are dynamic resistance lines on M1 (not daily breakout). So, that is why it is difficult to trade - it is necessary to watch the chart all the time.
Picture please...
Hi ND, thanks for the explanations.
I do not trade the M-1, but I like to understand different methods. Would you mind attaching a picture of your screen from which you traded these results onto your Post above, plse?
Thanks in advance.
It is some more explanation with the examples.
The situation few minutes ago:
You can see that 2 lines of TDI indicator (buy line and sell line) are going all together and above zero. And you can see the correction (sell) on open bar. We can open buy if we want
It is the situation 1 or 2 minutes later when bar was closed:
and few minutes later - breakout on M1. I was talking that we can lose money during this breakout on M1, right? But this breakout was on our direction (buy) so I was lucky in this case
As it is scalping so - take few pips in profit and exit.
And wait for the next case.
Most comfortable case is that we have exact same situation but with red dots for Trend Scalp indicator so we can make more pips in this case for buy (because dots are the top and bottom in this scalping setup).
and most important is that I said in some previous post:
The problem is that we not always see the correlation/relationship between the indicators and the price movement for M1 timeframe. So, we should select the pair which indicators "understand" about.
In AbleSys eASCTrend platform/software - we can backtest indicators in automatic way just to find/optimize the settings for manual trading. But for metatrader - we can not do it so ... correlation/relationship between indicators and the price itself can be lost sometimes especially for M1 timeframe.
Thank you very much..
and most important is that I said in some previous post:
The problem is that we not always see the correlation/relationship between the indicators and the price movement for M1 timeframe. So, we should select the pair which indicators "understand" about.
In AbleSys eASCTrend platform/software - we can backtest indicators in automatic way just to find/optimize the settings for manual trading. But for metatrader - we can not do it so ... correlation/relationship between indicators and the price itself can be lost sometimes especially for M1 timeframe.======================
Thank you ever so much for the time you spent replying to my request, ND. I do appreciate your time considering the fact that you are also the Moderator.
Best wishes.
newdigital
You look for, the correlation between :
Price versusTrend Scalp,
U
Price versus TDI 2
In this case, you have an correlation( indicator), Price --- TDI 2, to put it on the web. ?
Thanks
About market condition so - I was traded ranging market condition.
It is such as "pattern" for ranging buy:
it is strong sell:
I did not trade such as strong sell or strong buy. I traded ranging sell or ranging buy.
Just some real example:
if buy line will be reversed to uptrend so it will be our ranging buy (we can open buy trade):
Because buy line is on uptrend is buy, sell line is on uptrend is sell, sell line is on downtrend is bear market rally, buy line is on downtrend is correction.
So, I traded buy-buy, or sell-sell.
And when I was postingt the explanation here - I traded on the same time.
So, it was the situation before:
After that - I made few trades (7 trades) with 45 dollars profit:
This system works. But breakout and/or forex news can kill all the profit as stop loss is 100 pips for every trade. That is why it is necessary to select right time for this trading, and do not trade more than 1 and half an hour in a day for this scalping.
From post #3443:
yes, it was reversed:
But I did not start trading now as I already made 45 dollars closed it few minutes ago.