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M1 Countertrend Scalping Strategy

  • #10,341
  • Dec 12, 2023 6:56am Dec 12, 2023 6:56am
Quoting niks
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}
Thanks Niks… been looking for this as I use the mt5 format.. had to shrink the lines down to 1 thickness but it’s awesome… need to practice using it though. Thanks bro
  • #10,342
  • Dec 12, 2023 8:15am Dec 12, 2023 8:15am
Quoting cpfleger
{image}
Hi CP…. I have downloaded your superdem indicator for my MT5 but can I ask where I can get the MT5 download for that colour changing moving average you have shown here. Thanks in advance.
  • #10,343
  • Dec 12, 2023 9:19am Dec 12, 2023 9:19am
CM-PunkFX,
The post you are referring to is the MT4 Platform version and I must investigate to find a MT5 version.
cpfleger
  • #10,344
  • Dec 12, 2023 9:24am Dec 12, 2023 9:24am
Quoting cpfleger
CM-PunkFX, The post you are referring to is the MT4 Platform version and I must investigate to find a MT5 version. cpfleger
Hi CP…. Thanks for letting me know I appreciate it greatly my friend. I’ve also been trying to find the RSI indicator you use for the MT5 unfortunately only the MT4 version is available. I use to use MT4 as well but recently changed to using MT5, regret doing that now.
  • #10,345
  • Dec 12, 2023 9:36am Dec 12, 2023 9:36am
CM-PunkFX,
You will see that the quantity of MT5 Indicators is a lot less than MT4 because of the coding difference.
I have attached MT5 screenprint with the closes Indicator that I possess in my MT5 inventory and the Indicator if it meets your acceptance.
cpfleger
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Attached File(s)
File Type: ex5 Jurik_smooth_on_chart_generic_trend.ex5   28 KB | 295 downloads
  • #10,346
  • Dec 12, 2023 10:20am Dec 12, 2023 10:20am
Quoting cpfleger
CM-PunkFX, You will see that the quantity of MT5 Indicators is a lot less than MT4 because of the coding difference. I have attached MT5 screenprint with the closes Indicator that I possess in my MT5 inventory and the Indicator if it meets your acceptance. cpfleger {image} {file}
Oh no… there I was thinking MT5 was the better format… because visually it looks better. I previously used MT4 for about 8 months before I transitioned into using MT5. Currently trying an FTMO challenge. Thanks so much CP I appreciate you helping out bro. I really like the super dem indicator too.. it highlights useful levels.
  • #10,347
  • Dec 12, 2023 4:15pm Dec 12, 2023 4:15pm
Quoting cpfleger
CM-PunkFX, You will see that the quantity of MT5 Indicators is a lot less than MT4 because of the coding difference. I have attached MT5 screenprint with the closes Indicator that I possess in my MT5 inventory and the Indicator if it meets your acceptance. cpfleger {image} {file}
CP… question I would like to ask please, with the scalping you have demonstrated previously. Is this the indicator you use?… so you use the Jurik Smoothed channel line and enter a sell or a trade on the first flat ended candle that closes under or over it? Then 3 candles later you close the trade in profit is that correct?… is the Jurik indicator line a 20 ema then? Thanks in advance.
  • #10,348
  • Dec 12, 2023 7:59pm Dec 12, 2023 7:59pm
Quoting CM-PunkFX
{quote} Thanks Niks… been looking for this as I use the mt5 format.. had to shrink the lines down to 1 thickness but it’s awesome… need to practice using it though. Thanks bro
no problem cm-punkfx, all credit belongs to the original author "mladen", their link is in the Common section of the dialog, i just hacked it to add two extra lines!
every minute matters!
  • #10,349
  • Dec 12, 2023 8:01pm Dec 12, 2023 8:01pm
M1 XAGUSD
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following on from knowing margin requirements and pip values - swap rates, swap days and commission rates are also key and unique components of each currency pair - right click on a pair in Market Watch and select Specification - every row in this dialog must be clearly understood as it affects every position that is open - you will see the days on which TRIPLE swaps are charged as well as their rates, and you will also discover if and how much commission is charged for that pair - today is triple swap day for fx, gold and silver!!!
every minute matters!
  • #10,350
  • Dec 12, 2023 10:26pm Dec 12, 2023 10:26pm
M1 AUDUSD
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every minute matters!
  • #10,351
  • Dec 13, 2023 4:57am Dec 13, 2023 4:57am
this renko overlay for MT5 is an excellent choice!
https://www.mql5.com/en/code/18245
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every minute matters!
  • #10,352
  • Dec 13, 2023 5:46am Dec 13, 2023 5:46am
M1 XAUUSD
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every minute matters!
  • #10,353
  • Dec 13, 2023 5:52am Dec 13, 2023 5:52am
Quoting niks
this renko overlay for MT5 is an excellent choice! https://www.mql5.com/en/code/18245 {image}
Niks I’m not familiar with Renko, from a quick glance they seem like the heikin ashi candles that cpfleger uses.
  • #10,354
  • Dec 13, 2023 12:03pm Dec 13, 2023 12:03pm
CM-PunkFX
Niks, uses MT5 Renko Overlay Candles which are NOT HA Candles and MT5 does NOT have Renko candles as default.
cpfleger
  • #10,355
  • Dec 13, 2023 5:20pm Dec 13, 2023 5:20pm
Quoting CM-PunkFX
{quote} Niks I’m not familiar with Renko, from a quick glance they seem like the heikin ashi candles that cpfleger uses.
best thing to do is research the differences if you are interested in using them. there is much information out there...

the main difference is that a renko brick is not time based and is a fixed size for all bricks on the chart... the brick layout is dependent on the chosen renko "mode" - see Abade's previous post for more details on that...

i have only just started exploring renko myself and am still undecided if and how i will use it - good luck!
every minute matters!
  • #10,356
  • Dec 13, 2023 6:33pm Dec 13, 2023 6:33pm
M1 XAUUSD
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every minute matters!
  • #10,357
  • Dec 13, 2023 7:50pm Dec 13, 2023 7:50pm
M1 AUDUSD
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every minute matters!
  • #10,358
  • Dec 13, 2023 10:25pm Dec 13, 2023 10:25pm
M1 AUDUSD
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every minute matters!
  • #10,359
  • Dec 13, 2023 11:00pm Dec 13, 2023 11:00pm
M1 AUDUSD
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every minute matters!
  • #10,360
  • Dec 13, 2023 11:24pm Dec 13, 2023 11:24pm
M1 EURUSD
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every minute matters!
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