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M1 Countertrend Scalping Strategy

  • #9,241
  • Edited 9:29am Aug 18, 2023 9:17am | Edited 9:29am
Last nights trades hit TPs about 40 ish minutes after I closed my laptop for 50.1 pips LOL:
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I liked the gut surfing, but I should have listened to it MORE than I was. I thought to get out when it was initially 20 pips in profit then I was going to switch direction and buy the pullback but I whiffed it.
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Happy weekend all!
  • #9,242
  • Aug 18, 2023 9:43am Aug 18, 2023 9:43am
could of double dipped the shorts as well!

still an excellent sequence of trades, well done donny!

M1 EUR countertrend scalps - taking a swim in the deep end!
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every minute matters!
  • #9,243
  • Aug 18, 2023 9:55am Aug 18, 2023 9:55am
M1 EUR countertrend scalp - HANG TEN!
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every minute matters!
  • #9,244
  • Aug 18, 2023 10:45am Aug 18, 2023 10:45am
M1 EUR countertrend scalps - catching the last waves...
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every minute matters!
  • #9,245
  • Edited 12:17pm Aug 18, 2023 12:00pm | Edited 12:17pm
Quoting Donny3rd
Last nights trades hit TPs about 40 ish minutes after I closed my laptop for 50.1 pips LOL: {image} I liked the gut surfing, but I should have listened to it MORE than I was. I thought to get out when it was initially 20 pips in profit then I was going to switch direction and buy the pullback but I whiffed it. {image} Happy weekend all!
I agree, very nice trades. Also loving the "gut surfing" term

Our three brains/traders:

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Quoting BernardoAmar
Hi guys, using moving average distance in points indicator is very good for reversals, only start opening trades when the price reaches a certain distance from the moving average, in this example i am using renko chart on 0.5 pips per brick (which for me has a better price action than the standard chart), with a moving average of 4000 period and the indicator moving average distance in points also in 4000 period but with levels of 300 and -300 which corresponds to 300 points or 30 pips distance to the moving average 4000. {image} {file} {file} {file}...
Interesting choice, do you have a MT5 version of this indicator?

I was thinking this is basically a tick chart and may be the better way to judge price structure when compared to time candles.

It'll be great to see how this variant evolves, thanks for sharing.
  • #9,246
  • Aug 18, 2023 1:29pm Aug 18, 2023 1:29pm
Yes i have, for the Moving the average distance in points, the indicator is Track Cylical, is a little different but is pratically the same, adjust the period of to the moving average you want and add a level zero which is when price touches the moving average, and then adjust the levels of the levels of overbought and oversold to your taste. If you want the exactly the same indicator you can buy this from mql5 Price Distance from Moving Average https://www.mql5.com/en/market/produ...ource=External, or have this free one but has a very small history to do backtests
Distance between price and moving average for MT5 https://www.mql5.com/en/market/produ...ource=External
For Renko Chart you have the free Expert Santa Renko which is from mql5 https://www.mql5.com/en/market/produ...%3asanta+renko, i adjust the renko type to pips, dont forget you need to have two tabs open one for the renko and the other for the expert to run the program
Attached File(s)
File Type: ex5 Track_Cyclical.ex5   19 KB | 369 downloads
File Type: mq5 Track_Cyclical.mq5   13 KB | 383 downloads
File Type: ex5 Santa Renko.ex5   155 KB | 385 downloads
File Type: ex5 Distance between price and moving average for MT5.ex5   30 KB | 419 downloads
  • #9,247
  • Aug 18, 2023 1:51pm Aug 18, 2023 1:51pm
Thnks for share with us!
LilPriceaction.
  • #9,248
  • Aug 18, 2023 3:42pm Aug 18, 2023 3:42pm
Quoting BernardoAmar
Yes i have, for the Moving the average distance in points, the indicator is Track Cylical, is a little different but is pratically the same, adjust the period of to the moving average you want and add a level zero which is when price touches the moving average, and then adjust the levels of the levels of overbought and oversold to your taste. If you want the exactly the same indicator you can buy this from mql5 Price Distance from Moving Average https://www.mql5.com/en/market/produ...ource=External, or have this free one but has...

Yes thanks for the share! This fits right in with the hteme of this thread being mean reversion from/to the ema's! Most excellent.
  • #9,249
  • Aug 18, 2023 4:02pm Aug 18, 2023 4:02pm
Quoting BernardoAmar
Yes i have, for the Moving the average distance in points, the indicator is Track Cylical, is a little different but is pratically the same, adjust the period of to the moving average you want and add a level zero which is when price touches the moving average, and then adjust the levels of the levels of overbought and oversold to your taste. If you want the exactly the same indicator you can buy this from mql5 Price Distance from Moving Average https://www.mql5.com/en/market/produ...ource=External, or have this free one but has...
You could also use the standard MACD Histogram with MT4 and MT5. It measures the distance between 2 MAs. Just set the fast MA to 1. Set the signal line colour to none.
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Leave the Gun, Take the Armani
  • #9,250
  • Aug 18, 2023 4:36pm Aug 18, 2023 4:36pm
Quoting cliffjaded
{quote} You could also use the standard MACD Histogram with MT4 and MT5. It measures the distance between 2 MAs. Just set the fast MA to 1. Set the signal line colour to none. {image}
Yes much more simple
  • #9,251
  • Aug 18, 2023 8:09pm Aug 18, 2023 8:09pm
M1 BTC countertrend scalps - faster than expected!
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every minute matters!
  • #9,252
  • Aug 18, 2023 10:21pm Aug 18, 2023 10:21pm
Counter Trend is more suitable to use Rengko chart + Drw3
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DRW3

Rengko Chart
  • #9,253
  • Edited 3:44am Aug 19, 2023 3:26am | Edited 3:44am
Picking up a few Saturday coins whist eating my breakfast tea and toast.
Ideally should have entered the trade a candle sooner to complete the perfect three candle rule.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,254
  • Edited 4:05am Aug 19, 2023 3:43am | Edited 4:05am
Thought I might take a few coins on the way down too.
Rejection of the resistance box so nothing to stop price to fall a few coins.
That's enough breakfast fun. Time for a bit of dog walking.
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,255
  • Aug 19, 2023 8:06am Aug 19, 2023 8:06am
Quoting Seabreeze
Thought I might take a few coins on the way down too. Rejection of the resistance box so nothing to stop price to fall a few coins. That's enough breakfast fun. Time for a bit of dog walking. {image}
great work seabreeze - M1 is lots o' fun!
every minute matters!
  • #9,256
  • Aug 19, 2023 8:54am Aug 19, 2023 8:54am
Quoting niks
{quote} great work seabreeze - M1 is lots o' fun!
Thanks niks
It certainly is. There was a time I thought there was no money to be made in M1 charts.
Weekend crypto is arguably the hardest of all.
But with right mindset its possible to take a few coins here and there
Attached Image (click to enlarge)
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,257
  • Edited 9:17am Aug 19, 2023 9:07am | Edited 9:17am
Pick some more coins on way back up.
Reason for taking it on way back up is really that price is stuck on the daily support and so most likely bounce a few pips of it .
with the temporary M1 support to confirm it too
That's enough fun for me today. Edited spelling.
Attached Image (click to enlarge)
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,258
  • Aug 19, 2023 9:29am Aug 19, 2023 9:29am
Last one now promise.
Price moving up slightly gave a little wiggle room for this to bounce of resistance Showing on M1 and M5 chart
Almost did this in a classic 3 candle rule.
Dog walking time again now.
Attached Image (click to enlarge)
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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #9,259
  • Aug 19, 2023 10:05am Aug 19, 2023 10:05am
Quoting Seabreeze
{quote} Thanks niks It certainly is. There was a time I thought there was no money to be made in M1 charts. Weekend crypto is arguably the hardest of all. But with right mindset its possible to take a few coins here and there {image}
your welcome, maximum opportunities means maximum profits! i always had the impression your entries were a little late but your last few entries were a lot closer to the wholesale price and looking good, however noting that such an approach can be higher risk, things can change very quickly on the M1 charts!

btc is more active than usual this weekend after the last couple of days so it should provide some good opportunities...
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every minute matters!
  • #9,260
  • Aug 19, 2023 10:52am Aug 19, 2023 10:52am
From learning to decipher indicators to confidently reading naked trading charts, trading is a journey of simplification and mastery.
Keep honing your skills, and the rewards will be worth it!
Process is greater than Profits.
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