1) Look at the last candle on 4 stages, M5, M15, M30 and H1
2) If all of the past, which closed the Green candle – it's mean buy.
3) If the last, closed red candle – it's means sell.
Open the meta4 with 4 of the same pair, for example, GBPUSD, with time frame: M5, M15, M30 and H1.
Wait for the right time to open trade.
Explanation:
1) At intervals of 12 hours H1 candle closed 12.00, in the color green.
2) range on M30-11.30 12.00 only closed in wax.
3) at intervals M15-11.45 candles only closed 12.00, in the color green.
5) At intervals of M5-12 noon closed 11.55 candles, green.
In the example it is an example of the ideal, but if, for example, the H1 and the conditions are met, and the M15 M30 closed in red wax, then wait for the next candle.
Remember – before entering into a transaction in the range of M5-always check if all closing the previous candles painted in one color! -Only in this case open a trading position.
Stop-loss and profit target:
1) Stop-loss at a distance of 15-20 point of entry into the market. In this case, the take-profit equal to 30-40 points. When the price reaches 15 pips-move your stop-loss to break even or to repair part of a trading position or fully close the deal. Likewise, if you choose to use a trailing stop.
2) Stop-loss was placed under the nearest local minimum to purchase transaction or the closest local maximum for bargain sales. A profit target for this to be possible, at least 2-3 times larger than the stop-loss.
Profit on the same scheme as referred to in paragraph (1).
Download a template for Meta4
=p~ =p~ =p~ :o
ReplyDeleteI'm using this system to filter out bad signals that I get from another 5m trading system; in short, if you're already trading a system on the 5m charts, you can kinda 'triple check' your entries on the 15m, 30m and 1h charts to see if everything lines up. Works just fine! My favorite trading hours are between 7 and 11 am (GMT) - I'll look for the first signal that shows up on my 5m chart, check the colors on the other time frames and if all looks right I open a trade with 12-15 pips stop loss and 10-12 pips take profit; after that, I'll sit on my hands or go do something else until the trade closes itself, win or lose. Quit after winning or losing a few trades and do this day after day, over and over again. You'll gain more and more experience and feeling for how the market moves and there's a good chance that this kind of low risk/high probability trading will make you come out on top of this nasty business. Good luck to all my fellow traders!
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