The only way to make any one of these indicator work is to use it on a triple screen (mtf) system and use "common sense" . To detect if you in a trend or in a range the best indicator is your brain! To detect if you are in an uptrend or in a downtrend, check for hh-hl/lh-ll, pa and s/r. And for easier trading and still have a life, trade the daily tf, anything under is unhealthy.
Agree in most.
Indicators are good only to "confirm" what the knowledge of the pair and pa is telling you.
I also agree that trading in daily and monthly is less stressing, but for the most of us, is a luxury that (personally) I can't afford now. Trading in higher TF obly to cut my lots to half or even use only 20% of my actual lot size, coz sl must be at least 200 pips (depending the pair traded). So, 100 pips TP now can yield $ 100 or 1.000, but with lower lot only $20 or 200.
Is true that in daly TF your TP is 500 or 1.000 pips and once the trend is catched, you just look your PC once at day for a few minutes until it run to the S or R projected. Some ppl also add lots to the game when trend is clear . But as I said, you need a big pocket and mine is small in this moment. So, I have to keep trading stressing 1H and 4 H, allways watching daily (and sometimes monthly) for general trend, stablishing strong S/R in those TF, and watching how pa react when those levels are reached. S/R are very clear and respected by price in higher TF.
You don't need indicators in those TF. Just to zoom out the screen to see the jungle, draw sr lines acordingly and (maybe) a sma 20. And... a lot of patience and discipline, of course... ....
But yes, I want some day to change to daily and monthly. For now, I keep improving what bring bread to the table.
For me TIME is a luxury i can't afford. And i want to keep my day job for security. If i had no job, and only trading to do, i would probably trade 1hr-4hr time frame full time, (24hrs a day). And if you trade somewhere like Oanda, you could easily only risk 1% or 2% of account per trade, over 200 pips SL, with a 100$ account if needed. The important is the winning rate. Also, nothing is holding you from opening a sub account that you would trade on the daily while trading on the 1hr-4h main account. I have 3 sub account. First is my very tight main account, second is more loose, risky account. My third is experimenting account where i try High Risk whatever trade... Anyway, the MOST important factor is that every body needs to find his own trading system that's fit their own personality.
Of course, but the promise of Forex is to have better quality of life and MORE free time to enjoy, not less. Who want to spend hours watching the PC while the sun shine outside..? Not me. That's why I quit scalping long, long time ago. But since I can't trade bigger TF (for the reasons I quoted), I find something in the middle. Of course, not perfect, but good enough to keep me very intersted and improving.
Anyway, any TF and pairs have "tricks" that I learn with time (I only trade one pair). For example, actually I don't need to track my trade 24 hours, coz I "know" some decisive hours when MY pair need to be attended and usually change trend or give a trend continuation.
My wininig rate also is not very important. I can have only 40% and still be very profitable.
One thing that helped me a lot is to select a pair I like and deeply studied in charts. I use some hours in week-ends to do that, studing his behavior hour by hour over long time. You will be surprised how predictable can be a pair.
That study helped me to see the tree AND the jungle in MY pair.
If you are lack of time, then is a problem. For I have read from your posts, you are not a novice and you know that TIME is one of the most important factor in Forex. Don't trade by pressure (personal experience).
Indicator that shows the trend of the pair, considering the last 15 days in TFD1.
Did could you help me?
Indicator that shows the trend of the pair, considering the last 15 days in TF 1 Day.
thanks for your really fast reply and your effort.
Have a good time and regards.
I have searched for indicator, but couldnt find such one.
But i know it was somewhere time ago.. but cant find anymore it..
I really was searching it..
So, i would like to modifie or just to make alert to new indi.
When price is, for example, 30 pips from sma 50 ( Up or Down ), for example - indicator alerts with sound.
I would like inputs such as:
1) sma number which will be taken as the one from which to count pips
* For example, i want to input 35 sma or 48 sma.. or another sma number..
2) Pips from sma to alert
* Sometimes i want to alert me when price is 15 pips away from sma, sometimes 30 pips.. Sometimes 26 pips.. etc.. Any number.
3) If its not time taking a lot, it would be nice if i could change alerter sound to some another which i like better
4) On chart should be written how much is price from sma.
5) alert should be with popup.
I am attaching picture. This is tro indicator.
Also Tro indicator is good, if i could add just sound alerter with popup... That the simplest version and it could be also ok for me...
And, i have mini account - for example, eurusdm
I appreciate any help....
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