Trendline Scalping System

New follower and publisher. I'll start tomorrow and post something. Initially, I think I'll trade with 2R. I like it because it's a solid and, above all, objective system, something that seems to be lacking these days. I'm still a little undecided about whether to use the old template or the new one with RSI + MFI, but I'll see what I do, since the user Pollen posts so many trades and they look so good that it encourages me to follow those indicators.

Many take profits to everyone, and keep swimming in this shark-infested sea.

EUR/USD entry, 5 minutes, live. Is that correct?



EDIT:



Edit: I'm now trading at breakeven because a good candlestick pattern was forming in my favor, and it was rejected at the previous resistance level. Please correct me if I'm wrong. I didn't read anything about where to place the stop loss.

2º OP - XAU/USD 5 min

EDIT: SL

setup buy on EURUSD

Easy +10 pips on GBPUSD today.

Got xauusd today, i think i'll stick to this strat for now, its not that hard to understand, if its above daily open, look for buy, if its below daily open, look for sell. Which daily open. Broker daily open, the open directly on the separator line, or after, usually on the separator line. Can trade on mobile, doesnt need custom indicator.

gold gold! buy scalp

morning scalp

Note, this is for MT4.

I think I will try this strategy. It's all about finding a trend and trade the bounces. That should be easy. I of cause made some tools. There might be some fine tools earlier in the thread, but I always make my own. Here is the first one. It is called "RF_TMTalert_V1". And that is what it does. send an alert whenever there is a setup to investigate. Note, that you cannot trade every alert. Maybe 5% of them or so. So the tool tells you when to take a look at some chart to see if it suits you. You can use the tool on any product and any timeframe.

You get a long signal when:

1. Close is over the daily open line.
2. Close of last bar is over EMA7 and the bar before were under EMA7.
3. Of cause only when EMA7 is over EMA20.
4. RSI is over 50.
5. You do not have a long trade at the instrument at present.

Opposite for Short signals.

Note that I have not coded the MFI. I do not have the formula.

Damned easy - BUT there will be lots of signals that comply with the setup, but you find that they are in a ranging condition. So again, you get the alert that something MIGHT be worth investigating. The catch is, that you do not have to have your eyes stirring at the screen constantly. You can setup your mobile to have a "Ding". This way you can sit somewhere else, checking the signal on your mobile and maybe trade it. You just have to have the indicator running at your PC. What about sitting with the wife watching a movie, and trade the signals on the mobile? I might code a solution to avoid ranging signals in a new revision.

You can have any number of charts running. Or you can have the indicies og maybe just Gold or what have we.

Now to the background colouring. You can set these colours: Normalcolour, Shortcolour, longcolour and EMAcolour. (Will be renamed to Signalcolour in next version)

I use black for Normalcolour.
Purple for Shortcolour and Navy for longcolour. These colors will shine when you own a trade in the instrument at the chart.
SkyBlue for EMAcolour. The background will tell you, that here is a possible signal at the chart. It does not tell if it is long or short.

So using the colours you in a quick glance have the overview of possible new signals and which instruments you own and need to keep an eye on.

Damn easy.

Let me know of any errors and ideas for improvement.

I have a couple of more helping tools. They will come soon.

Thanks William. I follow your profile, cause you are worth it.



Note: These shall be put in the Indicator folder.

See how easy you know where to concentrate??

This is something that Metatrader makes better than all other systems.

A short signal:

another gold scalp

quick short scalp

The Double Williams. Bill Williams and SWilliams.

I am playing with the system. It really is basic: Buy the bounce on a trend.

I added the Alligator by Bill Williams. MT4/5 people have it in the indicator box. Whenever you get a top in an uptrend, then look for the break up from the MA7. So you can draw your lines from the alligator indicator as I have done in this example. That is a great help.

The yellow arrows are from the indicator that I am building. I have corrected some errors and a new version will come up soon. I am only trading Gold and Nasdaq right now and it is a great help that my phone tells me when to look for a trade. This way I can work with other systems while this indicator does my surveillance of the bounces.

waiting for a sell

I keep calling it Alligator. Wrong, I mean the Fractal indicator.

Now my indicator is working fine. So this is my setup.



RF_TMTalert_V2.
This is the core. Every time you get a yellow arrow, then you can draw a line as Swilliam does. And you can take the trade if you like what you see. Look at post #1849 for the function description. Note that I added CCI(14) to the indicator. I never trade without allowance from a CCI.

RFManualTrade
A very simple trade manager that I made for Puztafie. I like it so much that I am using it in stead of my more complicated trade manager. Put in the amount of Lots that you want to trade. Decide if you would like the buttons in the main window (= 0) or any window below.

When you want to enter a trade, you push the Line button. A line appear on the chart. Move that line to your wanted stoploss. Then push the button for Short or Long trade. It now makes 2 trades. One has a take profit at 1R and the other a profit at 2R. Stoploss is placed at the line, which you now should delete.

When the 1R profit is hit, then I move stopploss of the 2R to break even. Now I am assured to have some profit. And - most important - I will not lose money.


Attached is a trade I have right now. The 1R has been hit and I have moved stoploss to break even plus a pip to pay for the Commission.

If you take only the trades that appear when there is a trend present, then you should be able to make money every day.




I add my RFSqueeze too. It shows when Bollinger Bands are squeezing. It can keep you out of some trouble - but you also might miss some trades if you use it, because many trades starts in a ranging condition. But then again, it is providing information. Use it wisely.

RFManualTrade goes into the Expert Advisor folder. The other into the Indicator Folder.

Have fun. And Post some results. SWilliams is doing a great work. He deserve to hear from people using his work and everybody else would also like to have your results!!!!!!!!

GBPJPY M15

20 and 8 EMAs?
Thanks!

Two trades, the other one is still running