Attachments: M1 Countertrend Scalping Strategy

M1 Countertrend Scalping Strategy

#10,321
Dec 8, 2023 6:49pm Dec 8, 2023 6:49pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 BTCUSD

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every minute matters!

#10,322
Dec 8, 2023 8:41pm Dec 8, 2023 8:41pm

Abade
Joined Aug 2016 | Status: Trader | 536 Posts

Quoting niks

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attached is the MT5 Renko Overlay! {file}

Ignored

Thank you @niks! Looks great.

I am trying to understand how the ATR calculations work (is it always x1 ATR multiplier? Does it recalculate size in all candles when ATR changes?):

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Best regards.

#10,323
Dec 8, 2023 10:07pm Dec 8, 2023 10:07pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

you're most welcome Abade, i hope you find some benefit from it!

there are two modes of brick sizing, one is fixed, and the other dynamic using ATR

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when ATR is enabled, the brick size will change each time the ATR value changes and refreshed per bar, and a different brick configuration will be repainted as a result - it uses the literal ATR value, always x1 and is displayed in the top left hand corner

when ATR is disabled, it will (should) remain fixed, i say should because i think it repaints every so often and shifts ever so slightly by 2 points then back again on subsequent refresh cycles, anyway, i'll post an update if i end up fixing that, otherwise, feel free to report back any feedback!

every minute matters!

#10,324
Dec 8, 2023 11:22pm Dec 8, 2023 11:22pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 BTCUSD

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every minute matters!

#10,325
Dec 8, 2023 11:42pm Dec 8, 2023 11:42pm

TransparentT
| Joined Aug 2021 | Status: Trader | 41 Posts

Quoting niks

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attached is a quick modification to the original MT5 version of the keltner channel that adds two extra plots and settings to display an outer channel within a single indicator! {file}

Ignored

Beautiful. Makes life a lot easier by simply having one indicator to take care of the entire setup for us.

Quoting niks

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attached is the MT5 Renko Overlay! {file}

Ignored

Quoting niks

Disliked

you're most welcome Abade, i hope you find some benefit from it! there are two modes of brick sizing, one is fixed, and the other dynamic using ATR {image} when ATR is enabled, the brick size will change each time the ATR value changes and refreshed per bar, and a different brick configuration will be repainted as a result - it uses the literal ATR value, always x1 and is displayed in the top left hand corner when ATR is disabled, it will (should) remain fixed, i say should because i think it repaints every so often and shifts ever so slightly by...

Ignored

Two new indicators to test in one day? It truly is Christmas.

I have all of next week to run this on my charts and let you know how this works in real time. But so far it looks awesome.

#10,326
Dec 9, 2023 1:05am Dec 9, 2023 1:05am

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

Quoting TransparentT

Disliked

{quote} Beautiful. Makes life a lot easier by simply having one indicator to take care of the entire setup for us. {quote} {quote} Two new indicators to test in one day? It truly is Christmas. I have all of next week to run this on my charts and let you know how this works in real time. But so far it looks awesome.

Ignored

thank you, another basic rule of simplification is to minimise when oversized, having to deal with two separate keltner channel indicators on the same chart was mostly redundant... it was oversized and HAD to be minimised!

it will be a gift to me if you find value in either of them, looking forward to any feedback you may have...

every minute matters!

#10,327
Dec 9, 2023 3:39am Dec 9, 2023 3:39am

Elsaloon
| Joined Aug 2019 | Status: Trader | 244 Posts

Quoting cpfleger

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Elsaloon, No sir, I attach the correct indicator for your usage. cpfleger {file}

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Thank you
C

#10,328
Dec 9, 2023 5:05am Dec 9, 2023 5:05am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

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#10,329
Dec 9, 2023 5:27am Dec 9, 2023 5:27am

cpfleger
Joined Jul 2015 | Status: Trader | 6,592 Posts

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#10,330
Dec 9, 2023 6:55am Dec 9, 2023 6:55am

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 BTCUSD

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every minute matters!

#10,331
Dec 9, 2023 10:47pm Dec 9, 2023 10:47pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 BTCUSD

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every minute matters!

#10,332
Dec 10, 2023 1:50am Dec 10, 2023 1:50am

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 BTCUSD

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every minute matters!

#10,333
Dec 10, 2023 5:38pm Dec 10, 2023 5:38pm

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

weekend btc

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every minute matters!

#10,334
Dec 11, 2023 1:47am Dec 11, 2023 1:47am

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

M1 XAUUSD

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every minute matters!

#10,335
Dec 11, 2023 5:23am Dec 11, 2023 5:23am

bartek993
| Joined Mar 2020 | Status: Trader | 5 Posts

Quoting niks

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weekend btc {image} {image}

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Hi Niks. Nice trading, if you don't mind could you tell how much % of your account you made for example from these 12 entries on BTC from December 10th? I've noticed that you have a lot of positions next to each other, It seems that there are small positions, so the risk for big drawdown is also small. Thanks

#10,336
Dec 11, 2023 5:45am Dec 11, 2023 5:45am

niks
Joined Dec 2022 | Status: Trader | 3,262 Posts

Quoting bartek993

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{quote} Hi Niks. Nice trading, if you don't mind could you tell how much % of your account you made for example from these 12 entries on BTC from December 10th? I've noticed that you have a lot of positions next to each other, It seems that there are small positions, so the risk for big drawdown is also small. Thanks

Ignored

hi bartek and thanks! i don't mind but i don't measure percentage gained or lost, i only care about it while in drawdown, it is very small per trade and it is not part of my money management goal which is to trade for a living, you are correct in that they are small positions relative to account size and the risk of big drawdown is minimised as a result - perhaps some positions are close together but that is just being aggressive and not to be considered normal especially when starting out, orders should ALWAYS be light and well spaced apart from each other - best of luck to you!

every minute matters!