Forex intraday using the 5min chart: EURUSD

And down then up to the top zone again where there is high likelihood it will break up further.


@pgidia no problem, I'll load the lot up to make sure they are the latest versions

And my current settings in Files folder Stconfig.txt

BOF
Asian_Historical_Days=5
Asian_Start_Hour=1
Asian_End_Hour=10
No_Of_Asian_Extensions=12
No_Of_Days_To_Extend_Levels=3
Show_4_Hour_Previous_High_and_Low=1
Show_1_Hour_Previous_High_and_Low=1
Overlay_Candle_Shift=120
Show_Asian_Levels_On1Hr_Chart=-1
y_Position_Of_Subchart_TF_label=0.9
Gap_Between_Chart_And_Subcharts=0
Lot_Size=0.01
Show_Gaps_In_Asian_Levels=1;
Show_Small_Gaps=1
Show_Large_Gaps=-11
Show_Asian_Lines=-1
SubChart_1_TimeFrame_1M=5
SubChart_1_TimeFrame_5M=1
SubChart_1_TimeFrame_15M=5
SubChart_1_TimeFrame_1H=15
SubChart_1_TimeFrame_4H=60
SubChart_1_TimeFrame_D1=240
SubChart_2_TimeFrame_1M=15
SubChart_2_TimeFrame_5M=15
SubChart_2_TimeFrame_15M=60
SubChart_2_TimeFrame_1H=240
SubChart_2_TimeFrame_4H=1440
SubChart_2_TimeFrame_D1=10080
SubChart_3_TimeFrame_1M=60
SubChart_3_TimeFrame_5M=60
SubChart_3_TimeFrame_15M=240
SubChart_3_TimeFrame_1H=1440
SubChart_3_TimeFrame_4H=10080
SubChart_3_TimeFrame_D1=43200

ABSOLUTELY FASCINATING....

I don't know about you guys but I find this absolutely fascinating to the point of freay even, kind of looking at yourself in a mirror in an odd way.

This is a graph of my running total on my account, I thought it would be a good exercise to sort of see where I am at kind of thing, it goes back to the beginning of September up to today, what grabs me is that it looks so much like a currency pair chart it's quite uncanny, double tops, highs, lows, resistance, support, trends etc.... you couldn't decipher it from a currency pair chart.

So it kind of adds credence to the theory that the graphs we look at on daily basis is a graph of human behaviour.

I have few queries

1. What time does it take trades ??
2. Do we need to manually enter trade or auto ?
3. what is the best time frame ?

Thanks

It doesn't take trades, but you can use it to p[lace trades using the blue and magenta lines, there's a video on one of my previous post to show how it all works.
You can't really use it to trade the Asian session since that is what the levels are based on, I take trades anytime between 8am and 4 pm GMT, but going into the NY session is usually the best trading time.

Even though the thread says 5 min chart, it's developed into something a little different by now, it's Multi timeframe, we're not actually trading any particular timeframe, we're taking all the timeframes into account, it's the gaps and zones that are key whichever timeframe between you're looking at, but I'm usually switching the main chart between 1m, 5m, and 15m for my analysis.

Thanks for revert.

I will surely watch the video on weekend during market close .

Ity shows how to set it up so you can run the strategy tester and actually do trading on historical charts, it's like trading forex for real but at 10 times the speed, it's really good experience for trading, you can simulate about 2 months in day.

Ok, here's what I've arrived at, my final system that I will use to go live and give this thing my best shot, the main reason for the Stochastic is to stop my early entries, and I'm sure it works for me, I might just spend a days programming see if I can run the chart as it looks through the strategy tester.

So today's trading record, see the red trendline, that's basically my trade, but I had to go out, so I left it one, checked it on my mobile as I was out, and thought, yep it's going to just drop, because on Friday's that's what it does when there's no major news, or it does what it does today!!!!!!!! And I'll bet it does what it did today, i.e. the retracement and take those early shorts out like me!!! So I therefore conclude...... I've got a strong system here.... if I were to follow the rule 'take profit at next profit at next zone' this week, I would be up 20% I reckon, I mean look at the chart, that's a 3:1 profit along the little red trend line from zone to zone.

Notes to self...
Reset Tuesday, US BH MOnday, give it a miss
Rules - Zone to Zone
1 min / 5 MIns stochastic at extremes
Divergegence
Multi Time Frame
So it's no longer using the 5min timeframe, it's Multi time frame, Asian Gap Zones.

So Tuesday, onwards serious every trade, 50% by Easter.....

Stuff this, I can't be doing this, I just can't get the discipline......

4hr chart, it's a piece of cake, longer term trading.

Short on GBPCHF