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Scalping System by Machine

  • #21
  • Jun 22, 2024 7:12am Jun 22, 2024 7:12am
Quoting Iamfx
Gday Machine Nice system. Any chance you have a mt4 version of the 75% indy?
Morning. I don’t I’m sorry man. You can visualize it yourself if you can’t find an indicator. I could also post the code of the one I’m using if needed
  • #22
  • Jun 22, 2024 8:36am Jun 22, 2024 8:36am
Quoting MachineLearn
I will format the post better once home, but here are the rules for you to start studying. This is a very mechanical system however don’t be so mechanically focused you blind yourself to the rest of the market. This system has been taught by a mentor. It does require good movement and low spreads because of the nature of scalping. Trade on lower timeframes like M1-M5 price must be above 20 EMA for a buy and below for a sell Candle color has to change Setup bar has to be a strong bar - Closed within 75% of candle range Volume of setup bar has to...
Impulse leads momentum
  • #23
  • Jun 22, 2024 8:59am Jun 22, 2024 8:59am
Quoting DwnUndrTrdr
{quote} Impulse leads momentum
I’m listening
  • #24
  • Jun 22, 2024 9:34am Jun 22, 2024 9:34am
Quoting MachineLearn
{quote} I’m listening
Apologies if I was obtuse.
You are playing from the mean… in this case 20.. playing the break.
Games all MM from that point
  • #25
  • Jun 22, 2024 10:01am Jun 22, 2024 10:01am
Quoting DwnUndrTrdr
{quote} Apologies if I was obtuse. You are playing from the mean… in this case 20.. playing the break. Games all MM from that point
not entirely following what do you mean playing the break
  • #26
  • Edited 8:21pm Jun 22, 2024 3:32pm | Edited 8:21pm
For even MORE profitability. For those who are risk averse and prefer less trades but higher win rate...look for a setup after major trend line break before price pulls back

You might never lose

The colored zones indicates periods to look for setup..

Vert lines are 1R wins
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  • #27
  • Jun 22, 2024 4:10pm Jun 22, 2024 4:10pm
@MachineLearn

Any thoughts on filtering entries with an additional EMA 100 to align them better with the larger trend?
  • #28
  • Edited 6:58pm Jun 22, 2024 4:44pm | Edited 6:58pm
Quoting RoboSeer
@MachineLearn Any thoughts on filtering entries with an additional EMA 100 to align them better with the larger trend?
all filters will probably help filter some bad trades but will drastically reduce opportunities. Id experiment and share results

we dont want to over correct
  • #29
  • Jun 22, 2024 7:20pm Jun 22, 2024 7:20pm
Quoting MachineLearn
{quote} not entirely following what do you mean playing the break
the impulse “engulfing” candle
  • #30
  • Edited 5:17am Jun 23, 2024 4:55am | Edited 5:17am
Quoting MachineLearn
Closed within 75% of candle range
Do you mean the body must be not less then 75% of all the candle range from low to high?
Just an opinion. Based on research
  • #31
  • Jun 23, 2024 4:57am Jun 23, 2024 4:57am
One more question
Quoting MachineLearn
ATR has to be above 4 pips or killzone
What period do you use?
Just an opinion. Based on research
  • #32
  • Edited 5:18am Jun 23, 2024 5:05am | Edited 5:18am
Quoting MachineLearn
Definitely open to more options
Filter proposition:
RSI with OB|OS levels at 65%|35%
+
(my own experience with all MA-filtering systems):
I skip setups where the signal candle or the previous candle touch the MA
Attached Image(s) (click to enlarge)
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Just an opinion. Based on research
  • #33
  • Jun 23, 2024 8:59am Jun 23, 2024 8:59am
Quoting since80808
{quote} Do you mean the body must be not less then 75% of all the candle range from low to high?
correct. Candle must be close to the top of the candle high for buy or close to the bottom of the candle low for sell.

In other words you shouldn’t see much of a wick.
  • #34
  • Jun 23, 2024 9:00am Jun 23, 2024 9:00am
Quoting since80808
One more question {quote} What period do you use?
10 or 14 is fine, this isn’t a huge deal, it’s just there to make sure that if a trade does trigger and wins, it can cover the spread atleast.
  • #35
  • Jun 23, 2024 9:04am Jun 23, 2024 9:04am
Quoting since80808
{quote} Filter proposition: RSI with OB|OS levels at 65%|35% + (my own experience with all MA-filtering systems): I skip setups where the signal candle or the previous candle touch the MA {image} {image}
Rsi is powerful and will probably serve as a good filter, but sometimes less is more imo. You have to feel if it’s filtering out more bad trades than it is good ones.

in the first picture that candle didn’t close with 75% of candle range so it was already filtered.
  • #36
  • Jun 23, 2024 9:38am Jun 23, 2024 9:38am
Quoting MachineLearn
if it’s filtering out more bad trades than it is good ones.
I seat and backrest it now manually)) M5. I can say that your 1st post rules already made trades rare and very good filtered.
Just an opinion. Based on research
  • #37
  • Jun 23, 2024 10:01am Jun 23, 2024 10:01am
Quoting since80808
{quote} I seat and backrest it now manually)) M5. I can say that your 1st post rules already made trades rare and very good filtered.
yeah there’s usually only a couple trades per session , you need to be active on the charts. Also have to be quick setting up your entry criteria as it changes from trade to trade
  • #38
  • Jun 23, 2024 1:06pm Jun 23, 2024 1:06pm
BTC

HTF confluence (major support broken)

All criteria met
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  • #39
  • Jun 23, 2024 4:25pm Jun 23, 2024 4:25pm
Updated first post..

Will add "working theories" as traders contribute to the system. As they become more back-tested and thorough I will add to the core system.
  • #40
  • Jun 23, 2024 4:27pm Jun 23, 2024 4:27pm
Will appreciate if anyone has a % Candle Closed indicator for MetaTrader users

Here's the TradingView one I use..

https://www.tradingview.com/script/o...ose-of-Candle/
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I've changed it to a Histogram and changed levels to 75 and 25.
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