1min ind free trading

Hi me again

I see patterns nothing hugely imaginative and nothing new but they jump out at me

1min ....Fast and furious hmm not really but if you got just a 30min window the 1min chart is obviously your choice if you want to day trade.

Indicator free .. I think we all get bogged down with charts that look more like pieces of art that would look better hanging on a wall than to trade off of

If I suddenly want to trade Futures again and move from MT back to my old charting software which can also give me Forex charts I would be pretty sick if I had a custom indicator on MT that I couldnt replicate on another programme.

Its also a Clutter free way of trading that uses just price action

We need

A good entry
A technical base for the entry
A sensible TP
A realistic SL


When we trade on a daily chart we often look at the high low open and close a few may put these lines on esp the high and low of the previous day after all its a proven point around which buying and selling takes place....because it is a technical level.

Now crunch that down to the smallest time frame and apply the same rules

We will look at 4 decimal places on price not 5 this will increase our trade rate

Entry

We get a low and a low that match side by side we go long

We get a high and a high that match side by side we go short

TP

As the entry takes 2 candles one beside the other we simple take the biggest candle from its high to its low and we make that our target.All we want is a move the size of which in the 2 bar set up price has achieved.After all if over the last 2 bars the biggest bar has been 5 pips why on earth would we think price will go to 10 pips from our entry before our TP is hit..this way we stack the odds in our favour

For this I load on my ATR in pips indicator and set it to 1 and 1.0
I can then open my navigator tab and using my cross hair see the biggest candle of the 2 as per my second screen shot

SL

If we go long our stop is 1 pip lower than the low of the entry candle
If we go short the stop is 1pip above the high of the entry candle

I looked at Friday roughly from US open to approx 9pm we had 30 signals

net pips 61

Its a good clean way to trade if some programming guru could make an indicator which should be fairly easy i could of done this in my old charting software but know jack about MT programming it would be great.

An EA to back test would prove simple and its just price we are using with no laggibng indicators

Thats it for now have fun

Paulus

Hi Paulus .. Just want to thank you for all what you are doing ...

You have really clean heart and mind... thank you again and again.

Thanks thats a nice thing to say..Take what helps leave the rest if one little bit gives an idea to some one to help them move forward then its been worth it.

Paulus

The Rule:

Entry

We get a low and a low that match side by side we go long

We get a high and a high that match side by side we go short


specialy in the 1min candle go quick Up and Down .. i have quastion

my quastion is in which candle start entry the trade ??

and when?? in the end of second candle??

or in the current candle immediatly once formed for us equle high/low??

Hi

Hope th chart helps

I enter all my 1 min trades with 10 or 5 secs to go in the entry candle

If you get 2 candles with equal high and lows then its a no signal

If you short and you get a reversal you stick with your short until stopped or your TP is hit

With this type of system you are trying to clip out of the day 20 or 30 pips

In a sequence of 50 trades the system may end down 20 but at some time in the day +30 had been hit and breached.

An EA would trade this automatically and stop trading once your daily target in pips had been hit

I have inc the candle time indicator

cheers

paulus

try and tell me if he work?

Do you take into consideration the broker's spread? because 61 pips from 30 trades mean only 1 pip taking into account the 2 pips spread for eur/usd.
the gbp/usd spread of 4 pips can really destroy your profits.
Dont you think we shouldn't take a trade with 5 pips TP? it doesnt worth the risk and the mental exhaustion of being in a trade.

yea could do and yes the spread was included.. the largest win was 17 pips the smallest was 3 pips the largest loss was 11 pips the smallest was 2 pips Im looking to close at a set tgt for the day not to trade the whole of the Forex session..

Free ....ind works a treat many many thanks ..but an amendment if possible

for a short signal to filter out the bad can we have a line of code in addition to what we have that will give us ..


Short - close of 2nd candle must be lower than close of 1st
Long - Close of 2nd candle must be higher than close of 1st

This rule just keeps us with the current momentum
cheers

Paulus

and for longs

as you can see from the last couple hours of Friday the simple filter rule that will hopefully be coded keeps you out of the bad trades and keeps you with the current momentum

Paulus

new tell me if ok?

Here ya go. This should help staying out of the sideways crap. When the green line is between the 2 purple lines, then it's more then likely not a good time to trade. Of course the green line will pass through the channel from one side to the other. Just take a look at it and use it how you want.

todd

Paulus,
Thank you for sharing this idea.For an EA to work well, wouldn't you need it to place a trade 10-15 sec. before the end of the candle as you are doing manually? Adding the filter( you mentioned above) would make the EA wait until candle close before placing trade.To get EA to trade like you are manually with filter included,wouldn't the code need to look something like this-
Short- price of second candle 10 sec. before close must be lower than close of 1st
Long- price of second candle 10 sec. before close must be higher than close of 1st
Maybe even go with 5 sec. before close since price could move alot in last 10-15 sec. of candle.
Just my thoughts.

2 winners so far tonight on the 5min using these same rules. Thx free84 for the kool indicator. Going for 10pip scalps. Stop and or TP is when (for a short) I have a a bar that closes higher the the open of the previous bar. And (for long) I have a bar that closes lower then the open of the previous bar. My own rules for stops/TP makes it not very attractive to use the 1m chart. Too many little bars which stops me out to quickly. So I go 10pip 1st half and then my tp rules for 2nd half. Stop created at BE after closing 1st half at 10pip.

works a treat Free

many thanks

Paulus

Hi Free

Looking at ind this morning a few things looked weird or may be me ( possible as my mind is scrambled egg at mo )

The red dots are unfiltered signals the black dots are filtered ie if a short signal close must be lower than previous close

All the thumbs up qualify for this rule but no black dot

Any ideas

Cheers again looking good im sure this can be built on to provid a very good system for clipping 20 or 30 out the market

Paul

what happened to this guys?

looked good

Agreed.

Looks very promising system, i made 28 pips today trading 2 hours,my concerns are:
1) What broker to use as every broker has diffrent data feed, i made 28 pips using MIG but other friend was using FXDD, he did't made 28 pips , he was plus not but not like me.....?
2) What is the function of ATR and how to place TP , using ATR

3) What time is good ?

I appreciate your valuable time and help, looks very very promising system, and let the thread running to get more and more thoughts on this,
Thanks

hi you may be better sending me an email Im away soon for 1 week I can answer when beck cheers

Paulus