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Day trade setup

  • #481
  • Mar 31, 2023 8:26am Mar 31, 2023 8:26am
Quoting hasib
taking some quick in and out trade at m5 chart {image}
Stop loss placement lesson.
Trailing SL with the super trend 12 and 3 is a good way to minimize risk.

TP hit us30
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_22.png Size: 34 KB
Click to Enlarge Name: Screenshot_23.png Size: 37 KB
MA provides the market's current direction and strength.
  • #482
  • Mar 31, 2023 8:49am Mar 31, 2023 8:49am
Quoting kedridder
{quote} What's the best way to make use of the tst indicator? Or rather, can you explain to me how you apply it in your strategy, your rule? Thanks in advance.
Look at the screenshots I posted. The arrows highlight the stuff I look at. Is the HTF candle in the same direction as my trade? Is it an Engulf, Doji etc . Did the last three candles make HHs, LLs. Just very basic stuff.
  • #483
  • Mar 31, 2023 8:51am Mar 31, 2023 8:51am
Quoting TheHusla
{quote} Look at the screenshots I posted. The arrows highlight the stuff I look at. Is the HTF candle in the same direction as my trade? Is it an Engulf, Doji etc . Did the last three candles make HHs, LLs. Just very basic stuff.
What I am asking, is this part of TST.
How do you apply it, in your strategy?
Attached Image (click to enlarge)
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  • #484
  • Mar 31, 2023 8:58am Mar 31, 2023 8:58am
I believe this needs no complex explanations as it is easy to follow and rarely get things wrong.
The multiple BB are obvious entry exit points in combination with the combo stochs (direction as well as the levels that are VERY important) and the rsx which is again obvious for entry/exit as well as divergence which is commonly overlooked.
Extremeties are BB in black and white.
All indicators attached as is the template.
A truly profitable day trading system but only for those who trade for long periods of time.
TEAMTRADER

Attachment g
Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 23 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 33 KB
Attached File(s)
File Type: mq4 rsima 13 nmc 6 lines CROSS.mq4   17 KB | 393 downloads
File Type: mq4 Bands sma 21 1.mq4   5 KB | 391 downloads
File Type: mq4 Stochastic 1st.mq4   5 KB | 347 downloads
File Type: mq4 Stochastic 2nd.mq4   5 KB | 357 downloads
File Type: tpl EASYONE.tpl   10 KB | 349 downloads
  • #485
  • Mar 31, 2023 9:05am Mar 31, 2023 9:05am
Quoting kedridder
{quote} What I am asking, is this part of TST. How do you apply it, in your strategy? {image}
Ah, So if it's all green or all red then means we are in process of making a new HH/LL.
If it's not all green but the last signal was all green then I take it to mean price is just doing a pullback on that timeframe. So if we are up we are making a HL and if we are down making a LH. This is the assumption until it turns all green/red again.

Ultimately this is just a quick reference for something that should be obvious when looking at basic structure. I've had a look at the maths of the indicator and essentially it's a fancy breakout system.

I look at this on all TFs.

I do take counter-trend trades as well but only if I see a nice pattern (mostly H&S) but these are more risky.

That's about it!
  • #486
  • Mar 31, 2023 9:19am Mar 31, 2023 9:19am
Quoting kedridder
{quote} What I am asking, is this part of TST. How do you apply it, in your strategy? {image}
These is 3 super trend indicators combine. I will explain it in detail with a video.
MA provides the market's current direction and strength.
  • #487
  • Mar 31, 2023 9:30am Mar 31, 2023 9:30am
It's a shame that i can only trade indices on a demo account.
Attached Image (click to enlarge)
Click to Enlarge Name: US30 M30.jpg Size: 364 KB
  • #488
  • Mar 31, 2023 10:58am Mar 31, 2023 10:58am
I ended the month with a modest profit, 1,36%. Buth at least it's a profit,not a loss!
  • #489
  • Mar 31, 2023 11:25am Mar 31, 2023 11:25am
Quoting pusztafie
I ended the month with a modest profit, 1,36%. Buth at least it's a profit,not a loss!
Congratulations.
Focusing on trending pairs. try to take 1 to 2 RR at the list for trade, it will give you more % gain.
Not applying this strategy in Ranging pairs like usdcad, eurusd. It self will give you a good edge.
Best of luck
MA provides the market's current direction and strength.
  • #490
  • Mar 31, 2023 11:38am Mar 31, 2023 11:38am
Quoting hasib
{quote} Congratulations. Focusing on trending pairs. try to take 1 to 2 RR at the list for trade, it will give you more % gain. Not applying this strategy in Ranging pairs like usdcad, eurusd. It self will give you a good edge. Best of luck
Thank you for the advices! It wouldn't have been possible without you.
  • #492
  • Apr 1, 2023 6:04am Apr 1, 2023 6:04am
For stop lose and Take profit place I use this indicator.
ATR STOP Loss and ATR take profit.
for 1 to 2 RR trade I use 1.5 ATR stop and 3 ATR TP.
you can also use 3 ATR take profit and 6 ATR TP.
Test what works for you.
For ATR stop loss and Filter out some trade you can also use a super trend indicator. with 12 and 3 ATR value.

Best of luck
Attached File(s)
File Type: ex4 NO NONSENSE ATR.ex4   124 KB | 450 downloads
MA provides the market's current direction and strength.
  • #493
  • Apr 1, 2023 7:22am Apr 1, 2023 7:22am
This super trend indicator I use
Attached File(s)
File Type: ex4 SuperTrend nrp mtf (new format).ex4   23 KB | 413 downloads
File Type: mq4 SuperTrend nrp mtf (new format).mq4   6 KB | 474 downloads
MA provides the market's current direction and strength.
  • #494
  • Apr 1, 2023 10:47am Apr 1, 2023 10:47am
Inserted Video
MA provides the market's current direction and strength.
  • #495
  • Apr 1, 2023 11:11am Apr 1, 2023 11:11am
Chart GPT give me this strategy
The triple Super Trend trading strategy combines three Super Trend indicators with different settings to help identify potential trends in a security. Here are the settings and rules for entry and exit for this strategy:
Settings:

  1. Super Trend 1: period 10, multiplier 2
  2. Super Trend 2: period 15, multiplier 3
  3. Super Trend 3: period 20, multiplier 4

Entry Rules:

  1. Wait for all three Super Trend indicators to align in the same direction.
  2. Enter a long (buy) position if all three Super Trend indicators are green, or a short (sell) position if all three Super Trend indicators are red.

Exit Rules:

  1. Set a stop-loss order below the recent swing low if you enter a long position, or above the recent swing high if you enter a short position.
  2. Set a profit target based on your risk-reward ratio or use a trailing stop to capture profits as the price continues to move in your favor.
  3. Exit the trade if any of the Super Trend indicators change color, indicating a potential trend reversal.

It's important to note that no trading strategy can guarantee success, so always use proper risk management techniques and consider the potential risks before entering any trades. Additionally, it's recommended to backtest this strategy on historical data to determine its effectiveness before using it in live trading.

ChatGPT gime this code for mt4
If you have coding skills you fine-tune and share this strategy EA with us. we will all find this strategy work or Not in the real market.

// Triple Super Trend Expert Advisor for MT4 platform
// Written in MQL4 language
extern int ST1_Period = 10; // Period for Super Trend 1
extern double ST1_Multiplier = 2; // Multiplier for Super Trend 1
extern int ST2_Period = 15; // Period for Super Trend 2
extern double ST2_Multiplier = 3; // Multiplier for Super Trend 2
extern int ST3_Period = 20; // Period for Super Trend 3
extern double ST3_Multiplier = 4; // Multiplier for Super Trend 3
extern double Lot_Size = 0.1; // Lot Size for each trade
extern int Stop_Loss = 100; // Stop Loss in pips
extern int Take_Profit = 200; // Take Profit in pips
int start()
{
double ST1 = iCustom(NULL, 0, "SuperTrend", ST1_Period, ST1_Multiplier, 0, 0);
double ST2 = iCustom(NULL, 0, "SuperTrend", ST2_Period, ST2_Multiplier, 0, 0);
double ST3 = iCustom(NULL, 0, "SuperTrend", ST3_Period, ST3_Multiplier, 0, 0);
if(ST1 > 0 && ST2 > 0 && ST3 > 0) // All Super Trends are green, buy signal
{
OrderSend(Symbol(), OP_BUY, Lot_Size, Ask, 3, Bid - Stop_Loss * Point, Bid + Take_Profit * Point, "Buy Order", MagicNumber, 0, Green);
}
else if(ST1 < 0 && ST2 < 0 && ST3 < 0) // All Super Trends are red, sell signal
{
OrderSend(Symbol(), OP_SELL, Lot_Size, Bid, 3, Ask + Stop_Loss * Point, Ask - Take_Profit * Point, "Sell Order", MagicNumber, 0, Red);
}
return(0);
}

MA provides the market's current direction and strength.
  • #496
  • Edited Apr 2, 2023 2:40pm Apr 1, 2023 6:55pm | Edited Apr 2, 2023 2:40pm
Quoting hasib
Chart GPT give me this strategy The triple Super Trend trading strategy combines three Super Trend indicators with different settings to help identify potential trends in a security. Here are the settings and rules for entry and exit for this strategy: Settings: Super Trend 1: period 10, multiplier 2 Super Trend 2: period 15, multiplier 3 Super Trend 3: period 20, multiplier 4 Entry Rules: Wait for all three Super Trend indicators to align in the same direction. Enter a long (buy) position if all three Super Trend indicators are green, or a short...
What timeframes are you using with this method?
Thanks.
  • #497
  • Apr 2, 2023 3:01am Apr 2, 2023 3:01am
Quoting MidnightRun
{quote} At what timeframes are you using this method? Thanks.
I did not ask ChartGPT which tf is good and which pair this strategy will work well. I think we have to do some backtest to find which pair and which tf is good.
I started with GJ H1 Chart test. I will show GJ h1 TF results soon.
Hope it helps.
MA provides the market's current direction and strength.
  • #498
  • Apr 2, 2023 10:05am Apr 2, 2023 10:05am
Quoting hasib
Chart GPT give me this strategy The triple Super Trend trading strategy combines three Super Trend indicators with different settings to help identify potential trends in a security. Here are the settings and rules for entry and exit for this strategy: Settings: Super Trend 1: period 10, multiplier 2 Super Trend 2: period 15, multiplier 3 Super Trend 3: period 20, multiplier 4 Entry Rules: Wait for all three Super Trend indicators to align in the same direction. Enter a long (buy) position if all three Super Trend indicators are green, or a short...
This should work as intended except I didn't include the Exit Rules.
Attached File(s)
File Type: ex4 hasib trend.ex4   23 KB | 377 downloads
Software Developer and Music Producer
News Fundamentals All Time Return: 1,159.1%
  • #499
  • Apr 2, 2023 1:18pm Apr 2, 2023 1:18pm
Quoting jblanked
{quote} This should work as intended except I didn't include the Exit Rules. {file}
Thanks for your contributions.
In my Backtest, I found this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot_25.png Size: 61 KB
Click to Enlarge Name: Capture.PNG Size: 24 KB
MA provides the market's current direction and strength.
  • #500
  • Apr 2, 2023 2:16pm Apr 2, 2023 2:16pm
Quoting hasib
{quote} Thanks for your contributions. In my Backtest, I found this. {image} {image}
The stop loss and take profit are in points, you just need to adjust for your pair and for your broker
Software Developer and Music Producer
News Fundamentals All Time Return: 1,159.1%
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