You can use it on a shorter TF, I use it as an additional filter in conjunction with MTF Wavetrend or Chaos VA. I don't trade straight off the LMA.
On 1M candle LMA's set on 1m and 5m, 5m candle set at 5m and 15m.
Again im looking for a particular pattern in conjunction with MTF oscillators like Wavetrend or Chaos VA. Typically after HOD or LOD have been reached and or daily ATR range has been rejected.
When either of those have been reached and the MTF oscillators are all in harmony at the top or bottom, then i'll look for a possible entry. See examples and templates.
ATR is 20 day. Im not sure what you mean by false signals. Im using the WT as a filter for a particular pattern I look for. Such as a Swing Failure off the ATR, as well HOD and LOD. As far as the WT's im using multiple times overlay on top of each other. On the 5m candle I use the 15m+30m+1h and look for all three to converge and then separate.
Look at today's example of AUDCAD swing failure trade. Divergence formed on the 15m WT, followed by 30M WT and 1H WT reversing. That is the particular pattern I look for. There's plenty to choose on a daily basis. Of course I always refer to the daily candle and the daily 10EMA for trend direction.
Here you go
Same thing on my terminal
I don't seem to have a problem
Sorry about "false signals", i was judging only by yellow line. Im still trying to understand enter/exit conditions, but your system looks very promising. Here is screenshot of my today deal.
P.S. Are divergences reliable? Or I need some additional confirmation?
I think you got the right idea. Just watch how the MTF WT's converge and diverge on these breakouts.
Divergences may not always be reliable (as you watch them form), but for the most part I always keep an eye out for them.
Can you please modify this indicator.
This is a 123 pattern finder but only work fully functional with NZDUSD, in other pairs - it only show the signals of history.
Can you modify this indicator in such a way that it will fully function in all other pairs, or maybe in some other pairs.
Thank you so much.