I have been testing out the well known MTF trading system using the $TF-HAS bars. I have noticed something which might be worth pursuing. For example on the 5M chart the 4TFs would be:
TF1=5
TF2=15
TF3=30
TF4=60
A well known strategy is to wait until TF1 turns blue (long) wait for the TF2 to change blue and go long, staying in the trade if you can find the next higher TF = blue if the lower TF2 & TF1 have turned back to red. What I have noticed is:
If TF4= BLUE
TF3=RED
TF3 turns BLUE
Enter long trade
The effect is that you can stay in the trade for quite a period of time. You might find the price moving up and down but as long as the TF3=TF4=BLUE your pips increase until at some point the TF3 turns back to red but not before you get a warning from the lower TF2. I have attached a screen-shot for review and comment. An idea would be for an EA to get you into the trade with various options available for exit lower TF, macD, etc...I am not a programmer (obviously) and do not possess the arsenal of indicators etc that you guys have and design.
TF1=5
TF2=15
TF3=30
TF4=60
A well known strategy is to wait until TF1 turns blue (long) wait for the TF2 to change blue and go long, staying in the trade if you can find the next higher TF = blue if the lower TF2 & TF1 have turned back to red. What I have noticed is:
If TF4= BLUE
TF3=RED
TF3 turns BLUE
Enter long trade
The effect is that you can stay in the trade for quite a period of time. You might find the price moving up and down but as long as the TF3=TF4=BLUE your pips increase until at some point the TF3 turns back to red but not before you get a warning from the lower TF2. I have attached a screen-shot for review and comment. An idea would be for an EA to get you into the trade with various options available for exit lower TF, macD, etc...I am not a programmer (obviously) and do not possess the arsenal of indicators etc that you guys have and design.
Attached Image (click to enlarge)
