M1 Countertrend Scalping Strategy

Thanks for sharing the template

I think the number of candles is causing the problem together with the supply/demmand indicator you shared (I had set the candle count to infinity because I use them for backtesting). Will try to fix this and be right back.

usually default settings with the exception of color or text size...should work as I have it on 5 Brokers now.
cpfleger

complete Indicators with a clean Template.
cpfleger

I assume you have RSI and SupDem Indicators already....

Problem solved.

I kindly ask the rest of the user's to send new participants back to this post (#405) in the future for the full indicator list and template of the KoF/cpfleger system so they don't get lost:

1) Place the .ex4 files in your MT4 "indicator" folder.
2) Place the Original KoF Template M1.tpl file into "templates" folder.
3) Click "refresh" OR restart your MT4 platform so it loads the files.
4) Apply template into a chart.

The end result should look like this:

Abade,
excellent news.
cpfleger

Abade,
you still have an old Button on the top right side, go to Objects and delete or use my alst Template since I cleaned the file.
cpfleger

Now refer to my Strategy Guide I posted earlier as it defines the Steps needed.
cpfleger

You mean the one that has "bands" on it? It should be removed by now. Why does the Sup/Dem ind look different in my charts? (supply rectangle is way wider). Also the ZigZag readings look way off.



Please let me know if something is off or missing.

Abade,
its correct, it measures the wick before and the size of the rectangle box implies the distance...
cpfleger

Silver for the 3rd time today.

My friend, the rsi is missing from the template, It may have a different name in your indicator folder than the one that was uploaded before, please check:

try this one.

Abade,
ok now?
cpfleger

Thanks, that one made the trick. I edited/updated the post as well.

Abade,
great news then, we are aligned.
send the guide out too, thanks.
cpfleger

Ok, let me know if this is how you trade it:

Buy entry rules:

1) There are no upcoming news.
2) Price is below the 20 and 50 EMA lines.
3) Price has been rejected from a nearby support zone (use SupDem Box).
4) HA candle is turning green.
5) HA candle is crossing the 9 EMA line (upwards).
6) The RSI is touching the MA and has turned green.
7) Volume has increased above its own 20 EMA recently.

Sell entry rules:

1) There are no upcoming news.
2) Price is above the 20 and 50 EMA lines.
3) Price has been rejected from a nearby resistance zone (use SupDem Box).
4) HA candle is turning red.
5) HA candle is crossing the 9 EMA line (downwards).
6) The RSI is touching the MA and has turned red.
7) Volume has increased above its own 20 EMA recently.

Exit rules:

1) Aim for the 20 EMA touch to exit manually (this will be your target 90% of the time).
2) Add TP targets near the 20 EMA zone in case the markets start moving fast.
3) If price moves against you, enter a new position when the 9 EMA crosses your latest entry horizontal level.
4) If you are trapped in a breakout keep adding new recovery trades using step 2. Aim for a 50 or 200 EMA touch to exit ALL trades manually.

This one needs clarification:


My questions:

1) Look at the 200 EMA direction: you mean to only accept sells when 200 EMA is pointing down and buys when it's pointing up?
2) By "fanned outwards" you mean gaining distance between them?
3) *Step 3 is clear*.
4) By hook you mean the current price 9 EMA slope has curved up/down?

Please let me know if this needs refining to get close to your style! (I am still not sure how you manage losing positions) Best regards.

Abade,
it sounds good and answer your last question, I only start a trade with a small lot size that I consider acceptable as a loss before I enter a trade, if it reverses I either exit at a small loss or let it ride until it reverses because it will come back but when is the question... so I accept the DD and WAIT... just like KoF does.
cpfleger

Abade,
the 200 EMA is a directional guide only, as screenprinted the 200 is sloping upwards which for trend followers is a Buy but we counter trend scalp so we wait for pullback.

Fanned MAs is a gap between lines to represent a fan (japanese fan), the closer the lines the less odds in your favor. The black line needs to hook or an elbow to signal a reversal is about to happen, this is why hitting the 9EMA is 100%, it starts the pullback process and acts as a confirmation.

If you open a trade and its in error or reverses by 2 to 5 pips in Drawdown, stop and exit or wait it out, I wait more than I exit because on lower TFs another reversal happens alot and time is on your side, I do not add any positions until I am in profit though.
cpfleger

My friend! A few videos of your trades would help a lot

Thanks for sharing your whole system!