Multi time frame price action channel (mtf pac)

Hello Traders,
Recently I stumbled on the Force5 system pdf among my pile of free downloads and I told myself it won't be a bad idea to read it again and when I did I saw that the thing missing from his M5 trades was the element of Multiple Time frames (mtf) which he introduced in the advanced set-ups so I decided to adapt it into my own mtf set-ups and I liked what I saw.

Starting this thread to experiment what I believe is a decent system

INDICATORS
1 COLOUR STOCHASTIC 24,3,3
2 1440 SMA SHIFT 2 Time +/15 LEVELS (THE PAC)
3 1440 BB SHIFT 2 SD1,2,3
4 Market Panel Controller
5 SweetSpots GOLD _TRO_MODIFIED
6 ICT Asian Session
7 P4L Clock
8 MA CROSS histogram
9 Heiken Ashi

TRADING TIME FRAME
ONE MINUTE (M1)

RULES

LONG
A
1 Price close above PAC, bounce off PAC
2 MA Histo Blue
3 HA Blue
3 Stochastic cross

B
1 Price close above/bounce off upper band of BB sd1,2,3,
2 MA Histo Blue
3 HA Blue
3 Stochastic cross

C
1 Price close above/bounce off upper band of BB sd1,2,3@ RN
2 MA Histo Blue
3 HA Blue
3 Stochastic cross


SHORT

Opposite of Long

STOPS
You can place your stops at last swing high/low or at the opposite side of the PAC i.e above PAC for a short trade and Below PAC for a long trade.



EXITS
Desired R/R
Exit a long when price closes below the bottom PAC (reverse for short trades)
​Exit a position when a divergence is forming and a reversal seems imminent.


The Indicators and updated templates are attached on post 114.
(MT4 Build 600+ compatible)


Trade responsibly

First Trade

I missed the Lo opportunity (my job demands) but took the next signal, couldn't do more later pity.
The vertical lines represent Valid entry signals per rules.

MORE EXAMPLES

I need to say up-font that this momentum style trading gives best results with high ADR pairs with low spreads.
Also try and avoid ranging, quite markets though we never get warnings of when a range is about to start, at times it would seem a market is exhausted only to resume with such fury.
You will notice the heavy reliance on Divergence I believe it is the language of the markets, learn to spot them and it would improve your results.

UPSETTING
I'm learning now that the Demo feed and the real live feed is quite different, the demo feed prevented my taking advantage of two buying opportunities and I ended up taking the negative signals.

TOO EARLY EXIT?

Fearing the news release I took a sell and exited at an apparent RN bounce

YEAH TOO EARLY

RESISTANCE

Can it be applied on 5min chart? I try to place it on EJ, but not all lines shows as on 1min.

or, what would be the best settings for 5min please?

Thank you.

That would require raising the time frame of the moving averages up one step and making them visible in M5

thank you

AMAZING
It's amazing how a string of losses even in Demo can keep you away from consistently pulling the trigger

You are welcome please feel free to post your charts and real time observations.
It seems the M5 view is a bit smoother.

I like 5min more than 1min ... hopefully this setting is good for 5min as well as for 1min

Thanks Knez
I amended it to fit M1 as well and narrowed the PAC and I'm liking it more, you can switch back and forth between M1 and M5.
What I've done is change the 14LWMA from Low to close, so what we have is Close and High and then set to M15 Time Frame.

No comment

Here's the Temp

what is O/S? and PAC exactly?

the template shows no MAs..and when I manually add the MAs they overlap..how to separate them ( i guess, cant change low and high values)?

Basic Babypips stuff.
O/S means Oversold, that is when the indicator tells you that selling pressure is waning and that you might have to exit your short position and wait for a buy signal.
Here O/S is from 25 down to 0:
O/B is from 75 up to 100


For PAC check this link out.
http://www.forexfactory.com/showthread.php?p=2554853

I don't know why the MAs are not showing on your charts, but since you can add them manually, this screenshot should help.
Remember the MAs visualization is set to M1 and M5

I call this "analysis free trading"
You may not need to analyse is divergence, trade with tight stops and move to capital protection ASAP and most importantly, take every valid signal.
In recovery mode this week, I'm liking the ECN spreads and commissions, before on a 20 pips move you had to pay 8-9 pips now max 4 pips transaction cost.

PROFIT GAP

Took a sell @ FO but did not trade according to plan, I was supposed to take a position, set SL and TP, move to BE after clearing previous resistance/support and allow either BE or TP to be hit. My TP should have been either, the Asian Session Low (ASL) or the RN.
I did not set TP only SL and instead of moving to BE I exited, what was I thinking, trying not to let go of some puny gains?
I have to stick to the plan!