Trendline Scalping System

TMT sell on AU

Hit target

hi everyone, thanks for the strategy

I havent scalped before but decided to give this a try so I will be demo-ing it a bit ; took this cable short today.

entry on the trendline break close, target 10-ish pips

edit: pic didnt load properly

https://i.gyazo.com/b16917533003a82f...7200e37b9d.png

halo, attached below is a modified file of rsi-filter that i downloaded free from https://www.best-metatrader-indicators.com/rsi-filter/
the original code doesnt function like what this thread intends to..

since i want it to function like what this thread system which is to show rsi(8) >50 (one colour) and <50 (another colour), i modified the code a little..
n from there i modified again for mfi(14) to show again >50 and <50 conditions..

note: i'm not a programmer, just someone who understands codes a little and since the codes are not complex n free, why not changed it a little.. hope it is useful and error free..

oh if the indicators does not function as stated, do tell me, i will delete the post.. thx

have a profitable week ahead to TMT traders

EU +9 pips
Target was ATR

nice, TMT buy on EU

Is there anyone else who can help me to set up this indicator on mt4. I'm a new member and I have no authority to post new thread. So I wish trader will help me in this case.

Hi Sr. Pollen,

I've a question about the Targets for profit in the 5M timeframe. If we decide to divide the trade in 3 exit points, TP1, TP2 and TP3, the 1st point (TP1) it would be about how many pips in general? 10 pips? 1 x ATR? and the other 2 points, TP2 and TP3?

Understanding the money management has been the difficult part for me in Forex.

I agree 100% with you unfortunately having a wife or a girlfriend make it harder for us to hang on to the cash

TMT sell on AUDUSD

+15



TMT Rocks

Hi Pollen,

Can you kindly share your added indicators? That would be greatly appreciated.

Interested

read first post

TMT sell on AU

Awesome setup, now +20pips



TMT Rocks

another TMT sell on EU!

Hello Everyone,

I have a suggestion for you to give more probability to this system.

Examine your H4 candlestick patterns and the 'recent' price levels those patterns are bouncing of. For example, scan the market for a H4 bullish/bearish engulfing pattern and it has to be on a previous S/R. This will give you an edge in trading the 5 min chart.

Yesterday, I made 50+ pips on three trades: Long USDCAD (12 pips) , Long GBPJPY (36 pips), Long EURCHF (16 pips). Check your charts every three or four or 5 hours to scan good looking and textbook candlestick formations (You can use a period converter to get custom TFs). I scanned yesterday every four hours and found a couple of good looking bullish engulfing patterns. But be mindful with how big the candle is, how much price has moved. Is there room for some more pips. There is a lot of commonsense and how you feel the trade.

Now, on the M5 and M15 and M1 charts, you can definitely use your system in this thread and you can add some basic PA common sense. For example, false breaks on LTFs in the opposite direction for good stop-loss positioning, tops, bottoms, wedges, divergences, etc. Wait for some form of PA building on the LTFs in addition to the 7,21 EMAs pullback used in this thread.

I would avoid H1 candles as they may mislead you and concentrate on four-hour candles to get the very immediate bias/momentum and trade accordingly.

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First pic is H4
Second is M5

Another example with GBPNZD.

In this one, I will use the setting you are following here in this nice thread and I will apply my own analysis or the way I trade these small TFs of M5 and M1 with regard to the overall relevant PA. I hope you all do.

H4 picture



finding a smaller Time Frame for more details



Entry chart could be M5 or M1 or M2 or even Range/Renko bars. M1 is used here with your template.
We will notice that waiting for the right PA on M1 (the bottoming) timed very well with the entry conditions of the system.


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Note that when I trade, I do not really like the incomplete Head and shoulder patterns because of what I mentioned before in the M30 chart. It is tricky to find the true level for the second shoulder.