DislikedI got your point clearly. I just wanted to know the actual intention of using multiple timeframes.
My understanding is
- H4 is used to know the actual trend
- M15 is used for multiple re-entry possibilities and to reduce the drawdown
My doubts are
- What is the exit criteria ?
- Is there any re-entry mechanism added, since you mentioned M15 helps in possible re-entries ?
- If H4 is red and H1 is blue, what this signifies ?
Am putting questions so that you will get more idea and i hope you can build much perfect...
Ignored
H1 is used for the exit, if its a long trade and PA goes below the H1 HAS or the H1 HAS changes color, it will exit the trade.
Now if H1 HAS and H4 HAS are still Blue it will look for a re=entry on the M15 when HAS switches from Red to Green.
A trade is signaled by a color change on the M15 and this color must match the H1 and H4 colors.
H1 and H4 are only looked at for their color(trend) for entries, it doesn't have to be a change of color on these, only the correct color, just looking for direction, the color change on the M15 is the trigger if all others agree and the pip filter could also be part of the trigger if it is selected.
If the pip filter is used and say set to 100, when the M15 gives a trigger and H1 and H4 agree it will then wait for a 100 pip move in the same direction as the M15, H1, and H4 signals before taking the trade.