Multi Time Frame Analysis for Spot and Binary Options

This is a continuation of my project on Market Scanner Application (Link). So I will be skipping some introductory parts here and mainly focus on the following W's.

What: This is a well recognised and accepted concept of Multiple Time Frame Analysis.
1. We select our favourite instrument for trading.
2. We perform "Multiple Time Frame Analysis" for the instrument or for the group of co-related pairs/instruments.
3. We have 3 sets of technicals, A. Trend (series of moving averages), B. Volatility (please google if you are not sure. C. Decider group (RSI, CCI, Stoch, Stoch/RSI. Bulls/Bears, Ultimate Oscillator, Williams %, MACD, ADX, ROC)
4. We have fib levels, pivot, support resistances for all time frames. These levels are for Entry and Exit.
5. We enter in the market for "With-Trend" when we see most technicals are agreeing the same direction, that is buy or sell?
6. When we enter in the Market we check the fib levels and the current price and try to enter at best price / best deal.
7. We do counter by reading "Overbought/Oversold" signals we also check Fib levels before we counter, the best price you get the best deal you have as simple as that.
8. High Volatility means price has a lot of volume and creating new highs or lows, Low volatility indicates a ranging market, we need to take trading decisions accordingly.
9. Binary we do minimum of 15 minutes duration however most of the brokers offers 30 mins expiry we need to do our MTFA according to our brokers expiry. so for 30 mins expiry important TFs will be M5 to H1.
10. To catch a longer term trend we need to look at co-relation of instruments and have TFs H1 to Monthly.

Why: Presently there is no such good platform which offers free MTFA with tool so I will be providing you the tool for free (1 month complementary) expected that you will be adding your value in terms of discussion, research and analysis to improve the entire system and trading methods.

Who: Presently it is myself only working on this project, as a part time trader and developer I can not be online for all the time so most probably I will be joining in US session for 2-3 hours for trading, posting and discussion, I am a full time salaried employee to a NASDAQ listed multi-national company and leading their Sales Analytics team so more than 12 hours of my working hours is dedicated for them, here what I am doing is my passion.

How: You can PM me your email for the complementary copy, I will help you to set it up and you will be good for participation. Look forward to see you in the group.





Binary Strategies

A. Touch Option
B. No-Touch Option

In next couple of posts I will be showing the updates included in version 1.04, certain features I find unnecessary so removed. I am assuming that you are now aware of win rate ratio and using win rate ratio you are able to pick up your favourite pair for trading. You have a wide range of instruments in Market Scanner including stocks, currencies, indices, futures, so just try all instruments and build your portfolio for trading.

Now, important update is selection of Timeframes for scanning, Just want to remind you here we have 7 timeframes and by default all are selected if you run scan for all tfs the scanning will be slower, so my recommendation is,

A. Lets say you will be trading for 3 hours session, so you start with scanning all tfs and note down or take screenshot of the results.
B. Now in 15 minutes interval or 15 minutes before opening of a new hourly candle scan again and check off higher time frames such as daily. monthly etc.
C. Select proper / favourite instruments from the Market drop down.

A. Simply select the Market
B. Select your instruments from the "Available Instruments"
C. you have 3 baskets Asia, UK, US (Lets consider them as your sessions where you have a favourite group of instruments for each session)
D. Move instruments and fill up your baskets.

A. Select your session / basket
B. Click on Manual Scanning.

Multiple timeframe scanning is going to be a slower one, however it should not have any effect on your trading decision because strengths of the instrument or instruments will follow from lower tf to higher tf.

Please have patience during the scanning process.

It took around 3 minutes time for 3 instruments for (3*7 = 21 scans), The scanning speed is depends upon your system hardware and internet speed, so the better cpu, RAM and bandwidth the faster the scanning.

The scan result will automatically open using system's default browser. Please change your default browser to internet explorer, if you have older versions please update it to latest.

Now it is depends upon you how good you are analysing the different technicals in multiple time frames.

In my opinion you need to closely monitor your favourite instruments and notice the followings

Example: Trend Buy -
A. Is it strongly trending in all tfs (look at the MA series on your right)
B. Has it lost volatility in multiple shorter tfs?
C. How many overbought signals I am getting from the "Decider Group"?
D. If you do an aggregate of "Total Trend Agreements" and "Total Trend Disagreements" which one is higher?
E. Are you going for "With Trend" or "Counter"?
F. Which point you will choose for Entry (Read Fib Levels) and where is the current price?
G. Where you will exit? (Read Fib Levels).

Next is, simply turn on the "Auto-Scanning" set the interval, seat back and relax. Please don't panic about scanning time if you get scanning result even 30 minutes interval it is alright.

If we look at particularly E/U for Analysis. We see it is in strong buy except M30, it is getting strong selling signals from Stoch and MACD, 3 other technicals got overbought which we can consider a sign of weakness, the instrument has high volatility in all time frames --- this means a good opportunity on counter entry which is selling the instrument.

However, it is not any confirmation of trend reversal, if further we see that Ma series is getting mixed with sell signal then eventually this buying market will turn into a selling market.

By doing this analysis early we can secure atleast 500 pips move, where we know a trend reversal yields more than 1000 pips move.

congrats bro!!! you've already gone this far. i'm hoping for your success in trading bins

Thx bro, why don't you try the complementary copy?

First batch of the App I have already sent to the regular users and some close buddies. I have the other requestors who have requested the copy some times back so will be sending them in some time.

As you will be using this new tool and first few days are going to harder on you concept wise so I will suggest google for all the technicals and learn how to use them. Thread objective is to have more discussion on how you interpret all these technicals when you do MTFA so when you post try to add value on that with the trades you taken on what basis etc.

Hey! who have already sent me the request please do not PM me again, I am sending the App batch wise so you will be receiving shortly. In case you are not able to set it up or finding problems please post here. Thanks.

Good morning Bro, thanks for the complementry version. I have tried installing it and it is showing a blank page, what am i doing wrong?

Do you have team viewer installed? Add me on skype: [email protected]

Market Scanner Document:

You might take reference from this doc for installation etc.

Basic System Requirement:

1. Windows 32 bit (windows 7 ultimate is best)
2. Excel 2007 full version

Attached File(s)

Market_scanner_v_1.00.pdf   3.4 MB | 1,441 downloads

I will be offline for sometime. Do post installation related problems in detail manner. Install "Team Viewer" application so that I can remotely trouble shoot the problem. Add me on skype and let me know the problem, Thanks.

OWA components:

v 1.04 should not require OWA files, but to be on safe site just download and install the files from here.

http://www.forexfactory.com/showthre...79#post7284779