Inside Bar Maximizer

A very simple Strategy using Inside Bars in a Trending Market.

Setup

1 - Determine Dollar trend direction on "DXY" using Daily & 4hr time frames.
2- Wait for an "InsideBar" on 15 min chart... I place an "InsideBar" highlighter on my TradingView charts (by carozonator).
3- ONLY trade in the direction of the "4 hour" trend.
4 - Determine midpoint of the IB and the high/low (your stop) and add/remove 2 pips (depending on direction) to or from either the mid point or the high/low and you have your "EntryPrice" and "StopLoss".
5 - Setup your entry criteria on TradingView 15 min chart allowing 2 to 2.5 pips for the spread (depending on the pair).
6 - Write down "Entry" and "StopLoss" levels.
7 - Go to your trading brokers account and set up 2 "Pending Orders".

Take Profit

On the First Entry... set a Take Profit on the 1st entry at a level you're comfortable with... this depends on many inputs including leverage, account size etc.
In the screenshots of some trades under this opening post I used +8% as 1st TakeProfit for instance.

On the Second Entry... this is up to you...

a) Let 2nd trade run until trend ends... DEBATABLE?
b) Trail the Stop behind price.
c) Set TakeProfit at a support/resistance.
d) Set TakeProfit at an old OrderBlock or into a Fair Value Gap..

Defining the Trend is key, otherwise you will get whipsawed on most trades.
I have back tested this in TradingView and find I get about 50% strike rate in a definite trend on pairs that tend to trend.
My testing shows about 20% success rate over several pairs... BUT, the returns are very good.

So far about 20% of my entries are profitable (40% if allowing that I make 2 entries on most valid setups).

DON'T TAKE MY WORD FOR IT...

BACKTEST, BACKTEST, BACKTEST on your favourite pairs to determine if this can be profitable for you.

Use at your Own Peril... Trading is extremely DANGEROUS financially!

AUDJPY Buy

An immediate following entry AUDJPY

EURUSD
27 Apr to 28 Apr 24hr period.

Be AWARE... a very good trending day.

THE BAD... you must be able to take the good with the bad...

AUDJPY 27th Apr - 28th Apr ... I was going short.

Yes... I trade live... albeit, on a small scale.

The live open AUDJPY entries I posted in Post #3 above.

I can never work out where to take profit. Along with a few other things that've stopped me being consistently profitable.

However, I don't know if it's something you can use, but I have noticed much of the time candle opens are near the top or bottom of the candle. If you're trading intraday how about only trading away from the daily open? That's a nice simple filter that would've stopped the losses on the AUDJPY.

Hello and welcome.

I am now placing 2 entries when I make each trade... I close one at a fair profit and place a stop better than Break Even on the 2nd trade.... and let it run.
I close it when...
... I am happy with profit
... at a resistance/support
... at an old order block
... when a fair value gap has closed

The key for me is locking in some profit early (closing half the order) and the cream is letting the other half run a bit.

On the trade above in Post #3 I placed 2 trades, as can be seen in Post #7.
I have closed one of them at 93.34 for a 3.44% increase on the account.
I then moved the Stop on my 2nd entry to a small profit in the event price reverses on it.

I took a good profit on the 1st entry and locked in a guaranteed small profit on the 2nd entry.
That 2nd entry is the cream if the trend continues.

Another entry as an example...

AUDJPY again... placed 2 pending BUYS.

Ummm... that didn't work though.
Stopped out immediately on a sudden pullback after entry.

I repeated the trade again because the Aussie is on the up, and I think it will pull well against the Yen.

An example of a valid AUDUSD 3 hours ago now in profit.

The markets ranging hopelessly now ... back next week.

good luck brother
you can use MAHAL also as an additional tool for USDs directions.
it may help much and foster thread performance

or use closed-system index of USD and other famous 7 currencies:
J

what is the name of this candle?

f

I don't know its name, but "Bob" maybe...

However it is a bearish candle (closing lower than its open) engulfing the previous candle.
I would call it an "OutsideBar" I think.
If such candle closed without a bottom wick, I would suggest it is a very good indication that the following candle will be bearish.
At the top of a swing/trend a candle suggesting a change in trend is likely.
In an established trend I would call it a continuation candle.

Do you trade indices at all? This is a 15 minuite chart of the JPN225 with a daily box, even on a slow day you can often snag a good move during the (aussie) day.

I suggest you backtest IB Maximizer on TradingView and report your results.