M1 Countertrend Scalping Strategy | Page 571 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

strategy builder/tester for new scalping strategy 1 reply

1M & 5M Scalping System (Scalping Paradise) 21 replies

Reversals vs. CounterTrend Trade 28 replies

CounterTrend Trading 58 replies

Attachments: M1 Countertrend Scalping Strategy
Exit Attachments

M1 Countertrend Scalping Strategy

  • #11,401
  • May 11, 2024 7:47am May 11, 2024 7:47am
Quoting Present
Orange outer bands are the Cap Channel indicator for mt4
thank you, i found it here and will try it later

https://www.mql5.com/pt/market/product/28380

can you please share the settings you are using?
every minute matters!
  • #11,402
  • May 11, 2024 7:53am May 11, 2024 7:53am
M1 BTCUSD - very late entry
Attached Image (click to enlarge)
Click to Enlarge Name: 8FD32840-026C-46B6-863A-4033062E2CA8.png Size: 125 KB
every minute matters!
  • #11,403
  • May 11, 2024 8:06am May 11, 2024 8:06am
Quoting niks
{quote} thank you, i found it here and will try it later https://www.mql5.com/pt/market/product/28380 can you please share the settings you are using?
Its my attempt to perfect the countertrend trade system. You don't need to change any settings on the Cap Channel indicator.
I just enter when price has reached the Cap line and keep entering on candles that take price even further above or below the Cap line. I can even wait to enter until the buyer's/seller's volume goes to zero.

I've been using my EMA channel cross system for a few years now with a very good success rate, but I finally noticed how much I missed out by not getting into trades much earlier by using the countertrend. Plus, more entry signals. No day goes by without many of them. Ranging, not ranging. Doesn't matter.
Golden nuggets of wisdom not offered here.
  • #11,404
  • May 11, 2024 8:12am May 11, 2024 8:12am
Quoting Present
{quote} Its my attempt to perfect the countertrend trade system. I just enter when price has reached the Cap line and keep entering on candles that take price even further above or below the Cap line. I can even wait to enter until the buyer's/seller's volume goes to zero.
it's a valiant attempt and i wish you the very best with it, thanks for sharing...
every minute matters!
  • #11,405
  • May 11, 2024 8:16am May 11, 2024 8:16am
You are very welcome, Niks.

Thanks for all you do as well.
Golden nuggets of wisdom not offered here.
  • #11,406
  • May 11, 2024 8:17am May 11, 2024 8:17am
M1 BTCUSD
Attached Image (click to enlarge)
Click to Enlarge Name: B60AEC6F-C7EA-45D1-9231-50A3B254E926.png Size: 106 KB
every minute matters!
  • #11,407
  • May 11, 2024 8:42am May 11, 2024 8:42am
M1 BTCUSD
Attached Image (click to enlarge)
Click to Enlarge Name: F57B82E1-3692-49A6-A54E-55706E69D3B3.png Size: 105 KB
every minute matters!
  • #11,408
  • May 11, 2024 8:50am May 11, 2024 8:50am
Quoting niks
M1 BTCUSD {image}
Beautiful!
Golden nuggets of wisdom not offered here.
  • #11,409
  • May 11, 2024 9:38am May 11, 2024 9:38am
Attached Image (click to enlarge)
Click to Enlarge Name: Trades.jpg Size: 254 KB
  • #11,410
  • May 11, 2024 11:26am May 11, 2024 11:26am
M1 BTCUSD
Attached Image (click to enlarge)
Click to Enlarge Name: B0A9B61A-1E01-454D-87E4-471D2B84E73A.png Size: 120 KB

Quoting Present
You are very welcome, Niks. Thanks for all you do as well.
it's always my pleasure present!
Quoting Present
{quote} Beautiful!
quick trades are the best trades! thank you
every minute matters!
  • #11,411
  • May 12, 2024 1:12am May 12, 2024 1:12am
M1 BTCUSD
Attached Image (click to enlarge)
Click to Enlarge Name: 3E8CEFEF-DC3C-49A2-937C-28945F326199.png Size: 94 KB

Attached Image (click to enlarge)
Click to Enlarge Name: BF509050-9E85-463D-840C-4D4A373F4595.png Size: 102 KB
every minute matters!
  • #11,412
  • May 12, 2024 3:02am May 12, 2024 3:02am
M1 BTCUSD - with cap channel!!!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
every minute matters!
  • #11,413
  • May 12, 2024 3:19am May 12, 2024 3:19am
M1 BTCUSD - this could become addictive!
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 24 KB
every minute matters!
  • #11,414
  • Edited 6:45am May 12, 2024 6:26am | Edited 6:45am
Yes!


Kill it niks!

My simple rules: Be ready to close on Cap Channel mid point line, the 200 ema, or the opposite Cap Channel line. Or let it run with trailing stop.

If there is no room between where price is and one of those exit points, you can consider the signal filtered out. That's the beauty of doing it as countertrend. There is almost always room for an entry because you are farthest away from those exits.

Edit: Almost forgot. If you have a buyers/sellers volume indicator - and price is going below lower Cap line, you can also choose to wait for entry until the volume between buyers and sellers goes to zero. Opposite for price going over Cap line.
Golden nuggets of wisdom not offered here.
  • #11,415
  • Edited 7:35am May 12, 2024 6:57am | Edited 7:35am
The Cap Channel indicator is an interesting indicator, but it repaints. The fact that the price goes out of the bands is not a guarantee that it will eventually return. The trend can continue indefinitely without coming back inside. It would be better to use it in market phases with little volatility and open the trades when the price closes within the bands. I use it with M-Candle one or two timeframe major than the time frame of the graphic looking for true inversions.

Here is a picture with M-Candle 240 on TF m30
Different configurations are possible depending on your trading style and you can add whatever filter.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 64 KB
  • #11,416
  • May 12, 2024 7:04am May 12, 2024 7:04am
Quoting flashpaul
The Cap Channel indicator is an interesting indicator, but it repaints. The fact that the price goes out of the bands is not a guarantee that it will eventually return. The trend can continue indefinitely without coming back inside. It would be better to use it in market phases with little volatility and open the trades when the price closes within the bands. I use it with M-Candle one or two timeframe maior looking for true inversions.
I have changed my views on repainting over the years. The way I look at it now, is that repainting represents reality. I don't want the indicator to continue to show something that is no longer true.

But I understand why most traders share your view. I really do.

In the end, the statistics of the success rate are overwhelming though. Yet we all have our preferences for a style of trading, and honestly, I think most of them work if we take the time to master them.
Golden nuggets of wisdom not offered here.
  • #11,417
  • May 12, 2024 7:24am May 12, 2024 7:24am
I don't want to project to the group that I am some kind of great trader. I'm small time compared to many here, I'm sure.

But this was what you would have done Friday on Eur/Usd using the system I do.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 339 KB
Golden nuggets of wisdom not offered here.
  • #11,418
  • May 12, 2024 8:03am May 12, 2024 8:03am
I read coversation here about CAP Channel indicator.

That indicator is the best one to trade scalping in 1min, 5 min, 15 min chart.

But remember to use a filter.

I leave it to your guess which filter to use.

Remember... cap channel indi is best i have used for years.
Intraday only.
  • #11,419
  • May 12, 2024 8:12am May 12, 2024 8:12am
Absolutely navk!

I specifically used my Eur/Usd screenshot to show that although the Cap Channel can repaint (which is fine with me), the 200, 25high, 25low, and 6emas are anchored and do not repaint. So we KNOW what the chart is really saying to us. In addition, we had a ranging market period, so there was no need for the Cap to adjust or repaint so we KNOW going back to put arrows and text on the chart after the fact are not illusions from repainting.

flashpaul's warning still holds true though.

So for people inexperienced with this type of trading, just remember that volume is the number 1 consideration.
Golden nuggets of wisdom not offered here.
  • #11,420
  • May 12, 2024 9:33am May 12, 2024 9:33am
M1 BTCUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 23 KB

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB

Quoting Present
Yes! Kill it niks!
i plan to present!

it complements the strategy very well...

initial impressions using it are extremely positive, it really caught my eye, i don't think i have ever heard of or seen cap channel until now...

i note the comments from those already using it - thanks flashpaul and navk for your feedback, i very much look forward to using it...

thanks again for sharing it present, it is a valuable contribution to the thread for me at least, all the very best to you!
every minute matters!
14 traders viewing now, 1 is registered:
greg.ko