-Weekly Based trend (long,bull/short,bear) by candle
- 4-hour support or resistance (drawn (preferred) automatically but 4h could be done manually) based on the weekly trend/candle. (line chart to draw)
-Entry based on the 1min Timeframe market structure in trend with the trend (higher highs and lower lows). Taking trades on the retest with (preferred) pending order or after candle close at/when the price is in/interacting with a 4h S/R (use of line chart)
SL: -2% of account. SL also at the 1min market structure high +1 pip.
Trailing stop: at 300% of the SL (risk 1: Reward 3) the SL is moved to +10pips. 3 losses per chart available per week.
TP: open TP.
Close Trades: if trades are being closed, they closed 1 hour before Friday, the weekend market close. Trades are closed IF the current weekly candle is not the same trend bias as last week's candle and previous trend, the weekly candle is changing.
(Notes: Maybe the zig-zag indicator, "extend to the bar", deviation% 0.3, could be used to determine the S/Rs of the week not only that but the average zig zag high of the 4H could be the TP. For each week, 3 S or Rs are drawn for the week, at the average zig zag low, the 2 most predominant zig-zag average(1st and 2nd). Not sure if zig zag input needs to change to provide proper structure on the 1min timeframe. You know what's better than the zigzag? The American line chart. Replace zig zag with the line chart. Trades could be opened on the 1min with pending order using the line chart for market structure.)