Buy sell line trading

sharemaster just take some time to consider, Risk/Reward, lots size, and trade management, thats what will give the system its edge, and good luck

Hello everyone,

So here it is. The Commando M15 indicator. "Trend, retrace then shoot like a sniper"
Based on the "60's 15M Strategy".

That indicator will plot SL, BE and TP lines on your chart once a pattern signal has been detected.

I coded 3 different patterns type :
- On an uptrend, a bullish candle + the 3 previous candles should be bearish
- On an uptrend, a bullish candle + the previous candles should be lower then the previous 2
- On an uptrend, a bullish candle + the last 5 should make new lows

After some visual backtests and live tests, I saw those patterns perfectly fulfill the strategy entries.

Once a pattern has been identified, you will see the lines and an arrow at the signal candle. You can place a pending order with the correct levels. R:R is **always** 1 to 2.
SL should be moved at entry when the BE line is touched.

About the trend ... 2 different methods.
- 50SMA. Price above is an uptrend, price below downtrend.
- Manual trendline. You have to draw a trendline and name it "trend". The indicator will detect the slope and will show the correct signal based on your trendline. Once you set your trendline, switch to another time frame and get back (or wait for a new bar).

I saw that the trendline gives early entries, personally I prefer to work with a manual trendline.
I'm working on a *accurate* trend detection using multi time frame and multiple pairs but this isn't ready for now.

The indicators have also some nice goodies :
- The risk management. Based on your risk percentage you setup in the parameters, your lots will be calculated with your stop loss level. On M15, sometimes things move fast so don't bother calculate this yourself.
- Daily profit. It will also show your daily profit. A nice feature to avoid over-trading, especially on lower time frame. If it's written 5% and your target is 5%, better stop. There will be opportunities every day ! (well, at least that's what I think)
- Alerts !

That "kinda" indicator. It is just something to spot opportunities easily and on multiple charts.
It is still on development, so there is probably some bugs left. Feel free to send me a *private* message if you spot one (don't post this on the thread to keep it clean please).

Best time for trading this, London open to Close (+1).
This system is not a 100% win proof. You will have losers but all in all, with a good MM you can be profitable.

Recommended time frames are M15 (tight spread less than 3.5~4pips), H1, H4 to weekly.

Enjoy,
LhDT

PS : Don't ask for the mql4 please, I don't want that kind of indicator are sold at 299$ (or more!) on some Russian websites

nice lionel, should be a great help well done

Just a quick one, can this be used on daily and weekly Time frame please?

Thanks for this Bro

Of course !

Good job Lio.

Attached is an Entry 2 D1 setup for Monday (GMT +2 broker, Alpari)

H1 engulfs on AJ last week...

mmmmm...

Great indi lhDT, thanks for sharing. Have just be using H1 and H4 so far with good results. Will try going Commando on M15 next week.

Cheers

Trekker

Not much opportunity on the 1hr so far this morning, couple of T2 entries on the M15 though. Will update on the results later.

Regards.

Looks like you could have got a nice 2:1 on that EU there, also seems like there was a earlier type 2 entry as well but that would have fallen in low liquidity so don't if one would be take that.

Closed eurusd at 1.2478 for 2:1, cable approaching the 2:1 also. However, leaving this open as the 1hr has completed an EB and the low of the bar has been breached at 1.5541. If we had used the 50% of the signal bar as the stop level price never came near it in both cases, thereby significantly enhancing the R:R on the trades.

Thanks again MM.

Worked out very nicely for 2:1. Not sure that I see the earlier T2 entry on the chart ??

Thanks.

well done Nige

I got 2.5 R on EU M15 short

As requested by Rexz, here is a new version.

Improvements :
- Added Push Notifications for your mobile phone (iphone/android). Feature is disable by default.

Extremely useful on H4/D1 charts !

Cheers,
LhDT

http://www.fxstreet.com/webinars/ses...5-9a287d091809

Closed cable at b/e, had the chance to take it off at 2:1+ but elected not to because of the EB on the 1hr.

T2 short entry on the AUD M15.

Closed at 9977 for just over 2:1, would have let some of it run but have to go out. If anyone likes the longer timeframes check out the weekly AUD chart !

Regards.