H4 is most recommended but you can try any timeframe you're comfortable with.
gl!
gl!
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DislikedHi, Dollabill
thanx a lot,but would you tell me how can i use it,
thanx again, happy tradingIgnored
DislikedIgnored
DislikedIs there any type of modification you're using to trade on the lower time frames or are you trading vanilla mouteki on these? Great results you're getting.
JoeIgnored
DislikedThanks. No modification actually, just using 15m & 30m tf & indicator 'Mouteki Heart-Mono v2'. The way of using just same, BUT
1) Trade only during London or US session.
2) Look after tf15m to break first then wait until tf30m to break before enter position.Ignored
Disliked3) Take profit only at 50% (or less) of target suggested by the indicator.Ignored
DislikedWhen the trade presents itself according to the rules.(wait for open of candle below/above trend line depending on which way you did your calculations. Check to see that the blue line has crossed in your favor. If a buy trade, make sure blue line is on the bottom pushing market upwards, the reverse for sell trades. That along with the MACD is all I use. Well an SMA also.Ignored
DislikedBut are you trading the H4 or perhaps H1?
Yep, this makes a lot of sense. Thanks, hatisenang.Ignored
DislikedAre you familiar with DeMarks descriptions of Level 1 vs. Level 2 TLs? I think the blue candle to the left of your #1 support is a valid Level 1 support. Your #2 appears to be a valid Level 2.
Using your chart, this is my best shot at a valid Level 2 demand line. Your #2 support is my #1. I think my #2 is pretty obvious. (sorry, I hate MS Paint but it's all I have at the moment)
lvl2.PNGIgnored
QuoteDislikedBuying pressure is the difference between a bar’s close and its “true low,” which is the lower of that bar’s low or the previous bar’s close.
QuoteDislikedSelling pressure is the difference between the bar’s close (here I assumed a misprint in the original document and corrected for it. be careful because my assumption could be wrong) and its true high, which is the higher of that bar’s high or the previous bar’s close.