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M1 Countertrend Scalping Strategy

  • #6,141
  • Jun 6, 2023 3:20am Jun 6, 2023 3:20am
Quoting cliffjaded
{quote} Incredible results both @cpfleger and @encryptedehs! You guys should attach the DrawProfit indicator on your charts and take screenshots so that we can observe your entries. I also noticed you guys are using mini lots and above. One important question is what is your equity i.e. What is your risk per trade. 0.1 lot per $10 000 balance? I normally trade 0.01 (1 micro lot) per $1000 balance but i've since been taking more risk and risking 1 micro lot per $100. Risky, i know.
mine is around 15k
Protect your capital
  • #6,142
  • Jun 6, 2023 3:40am Jun 6, 2023 3:40am
Quoting encryptedehs
{quote} Thank you for the explanation. I will surely have a look at it. Looks very promising! Please attach necessary indicators and alert tools. You're a gem!
You're welcome, friend. To avoid information overload, focus on just these 2 things - Liquidity Sweeps and Fair Value Gaps. Incorporating these 2 concepts along with HTF Analysis should keep you aware of what price is doing and where it's possibly heading as you're entering and averaging trades.

These indicators are for MT4. If you need them for MT5, i'm sure you can dig around for MT5 versions or equivalents.

Trendline Alerter
I edited the code a bit so that when a line (Horizontal or Trendline) gets hit, it changes to a thick line. You need to set the description of the line to Alert_x where x is the number of pips away price needs to be for the alert to be triggered. E.g. Alert_0 for 0 pips.
Can set pop-up, push and sound alerts as well.
Attached File(s)
File Type: mq4 Trendline Alerter.mq4   5 KB | 265 downloads

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB


Alerter4u
All purpose alerter that works for lines, fibs and rectangles. Doesn't change to a thickline. I only use it for rectangles. Remember to turn off the AlertsHLine & AlertsTLine if you're using the above Trendline Alerter so as to avoid overlap. Also, I disable AddAlerts - this automatically adds "Alert_x" to all objects which I do not want. I want to manually add alerts to the objects I want. Remember to set the AlerDist to the distance you want (0 in my case).
Attached File(s)
File Type: mq4 Alerter4U.mq4   6 KB | 249 downloads

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 7 KB


OHLC Magnet
Click on link above to download from MQL5 directly.
This indicator snaps objects like lines, rectangles and fibs to OHLC of a candle. Makes it very easy to draw accurate zones.

Rectangle Position Changer
Click on link above to download from MQL5 directly.
This indicator helps to resize the sides of rectangles individually. I will keep this switched off (there's a button on the chart) and use it as necessary. Inconjunction with OHLC Magnet above, makes snapping rectangles a breeze.

Breakeven Line
I have another nice Average Breakeven Line indicator from the MQL5 website but the author has taken it down. Nevertheless, this works well. Allows you see where the average breakeven line is and what's the average profit/loss, number of lots, etc.
Attached File(s)
File Type: ex4 BreakEven Line.ex4   39 KB | 303 downloads


Drawing Toolbox
Created by a Jagg of ForexFactory. A toolbox that allows you to quickly draw lines, fibs and rectangles that can stay extended with time (or not). Takes a bit customisation. Remember to remove the "Draw Rectangle as CCanvas Bitmap Object" for rectangles to work properly. Can use keyboard shortcuts as well.
Attached File(s)
File Type: ex4 Drawing Toolbox.ex4   1.9 MB | 291 downloads


i-Sessions
Sessions indicator. Pretty self-explanatory.
Attached File(s)
File Type: mq4 i-Sessions.mq4   11 KB | 304 downloads


Spread
Attached File(s)
File Type: mq4 Spread.mq4   11 KB | 250 downloads


ATR
Attached File(s)
File Type: mq4 ATR Value.mq4   3 KB | 276 downloads


SC MTF Ma
A moving average indicator that can MTF ma (H1 20ema for example) and set alerts.


Position Size Calculator EA
A free customisable Position Size Calculator EA that can set multiple TPs, calculate position size with commission included, trade with hotkey. Been using it for YEARS.
Leave the Gun, Take the Armani
  • #6,143
  • Jun 6, 2023 3:41am Jun 6, 2023 3:41am
Trade Report Compact
Attached File(s)
File Type: mq4 Trade Report Compact.mq4   53 KB | 288 downloads
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
Leave the Gun, Take the Armani
  • #6,144
  • Jun 6, 2023 3:55am Jun 6, 2023 3:55am
My Custom Close Order Scripts

  1. CloseHedge

    1. Resolves opposing Buy and Sell orders using OrderCloseBy() function, saving you spread and commission
      Attached File(s)
      File Type: mq4 CliffJaded - CloseHedge.mq4   6 KB | 248 downloads

  2. CloseAll

    1. Does the above and then closes remaining open positions
      Attached File(s)
      File Type: mq4 CliffJaded - CloseAll.mq4   9 KB | 223 downloads

  3. ClosePending
    Attached File(s)
    File Type: mq4 CliffJaded - ClosePending.mq4   4 KB | 240 downloads
  4. CloseBuy
    Attached File(s)
    File Type: mq4 CliffJaded - CloseBuy.mq4   3 KB | 246 downloads
  5. CloseSell
    Attached File(s)
    File Type: mq4 CliffJaded - CloseSell.mq4   8 KB | 247 downloads
  6. ModifySL

    1. Sets SL of all orders to a price that you enter
    2. When used in conjunction with the BreakevenLines indicator, you can now breakeven and trail your basket of orders
      Attached File(s)
      File Type: mq4 CliffJaded - ModifySL.mq4   3 KB | 260 downloads

  7. ModifyTP

    1. Sets TP of all orders to a price that you enter
      Attached File(s)
      File Type: mq4 CliffJaded - ModifyTP.mq4   3 KB | 267 downloads

I wrote these and I've included the source code. You can set hotkeys so that you can execute them faster.

Leave the Gun, Take the Armani
  • #6,145
  • Jun 6, 2023 4:13am Jun 6, 2023 4:13am
Stoploss trailed collectively for all orders. Collective TakeProfit set at M30 OB. Set using my custom scripts above.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 42 KB
Leave the Gun, Take the Armani
  • #6,146
  • Jun 6, 2023 4:24am Jun 6, 2023 4:24am
Quoting cliffjaded
My Custom Close Order Scripts CloseHedge Resolves opposing Buy and Sell orders using OrderCloseBy() function, saving you spread and commission{file} CloseAll Does the above and then closes remaining open positions{file} ClosePending{file} CloseBuy{file} CloseSell{file} ModifySL Sets SL of all orders to a price that you enter When used in conjunction with the BreakevenLines indicator, you can now breakeven and trail your basket of orders{file} ModifyTP Sets TP of all orders to a price that you enter{file} I wrote these and I've included the source...
I couldn't, these didn't fall into mt4
  • #6,147
  • Jun 6, 2023 4:37am Jun 6, 2023 4:37am
Done
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Leave the Gun, Take the Armani
  • #6,148
  • Jun 6, 2023 5:01am Jun 6, 2023 5:01am
Quoting zafar1988
{quote} I couldn't, these didn't fall into mt4
These are scripts. You put them in the Scripts folder.
Leave the Gun, Take the Armani
  • #6,149
  • Jun 6, 2023 6:32am Jun 6, 2023 6:32am
i need to practice this m1 counter trend strategy in demo account. it seems promising
  • #6,150
  • Jun 6, 2023 7:42am Jun 6, 2023 7:42am
Just another successful scalping day since yesterday's News.....
Attached Image (click to enlarge)
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  • #6,151
  • Jun 6, 2023 7:56am Jun 6, 2023 7:56am
The double-edged sword, this nearly wiped half of my acc Glad to be alive
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  • #6,152
  • Jun 6, 2023 8:14am Jun 6, 2023 8:14am
Quoting BlackCap
The double-edged sword, this nearly wiped half of my acc Glad to be alive{image}
10, 20, 50, 100 and 200 EMAs?
I have no clue where it's going
  • #6,153
  • Jun 6, 2023 8:17am Jun 6, 2023 8:17am
Quoting LifeRider
{quote} 10, 20, 50, 100 and 200 EMAs?
100 was added by accident. Forgot to remove that
  • #6,154
  • Jun 6, 2023 9:12am Jun 6, 2023 9:12am
Finally got out from this mess!
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  • #6,155
  • Jun 6, 2023 4:41pm Jun 6, 2023 4:41pm
Quoting cliffjaded
{quote} The Previous Day, Week and Month levels are not to be traded from their respective timeframes. Here's what you do. Draw the High and Lows Previous Day (PDH & PDL) Previous Week (PWH & PWL) Previous Month (PMH & PML) Tokyo London Current Day - High of the Day (HOD) and Low of the Day (LOD) Set Alerts (Use an indicator - I have one if you need) When price reaches any of these levels, go down to a lower timeframe (M5/M1) Look for Displacement You want to see price breach the level and quick return back and close back under that level If you...

Well explained my friend!.
These concepts can definitely allow you to average in better and set multiple TP targets.
The alert indicator would be great to have.

The great thing about the ICT concept for me, I am not trading a different strategy, I use the same strategy I've been using for a while; I add this to it to help manage my trade, enter and exit at a more efficient manner.
It actually makes trading so simple.
  • #6,156
  • Jun 6, 2023 8:05pm Jun 6, 2023 8:05pm
Quoting cliffjaded
Done {image} {image} {image}
please is there a video that goes with this strategy step by step
  • #6,157
  • Jun 7, 2023 12:29am Jun 7, 2023 12:29am
Quoting Huzy
{quote} please is there a video that goes with this strategy step by step
Watch TTrades videos. Go to his playlist and find the Education playlist.
Inserted Video
Leave the Gun, Take the Armani
  • #6,158
  • Jun 7, 2023 12:34am Jun 7, 2023 12:34am
Quoting BlackCap
The double-edged sword, this nearly wiped half of my acc Glad to be alive{image}
Man that was stressful haha.
Leave the Gun, Take the Armani
  • #6,159
  • Jun 7, 2023 12:35am Jun 7, 2023 12:35am
Quoting Chucun
{quote} Well explained my friend!. These concepts can definitely allow you to average in better and set multiple TP targets. The alert indicator would be great to have. The great thing about the ICT concept for me, I am not trading a different strategy, I use the same strategy I've been using for a while; I add this to it to help manage my trade, enter and exit at a more efficient manner. It actually makes trading so simple.
Exactly. Gives me more confidence to enter where as I was entering blindly last time and just getting myself into really stressful situations.

I've attached my Alert indicators in this post.
Leave the Gun, Take the Armani
  • #6,160
  • Jun 7, 2023 12:54am Jun 7, 2023 12:54am
Markup for EURUSD today.

H4
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M15
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M1
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Leave the Gun, Take the Armani
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