Multiple Time Frame Stochastic trading using 1min charts

Cause i'm not always right, most of time i'm sad when i see the price continuing growing but sometimes i'm really happy of my choice.

I recently found Forexcube's thread on Divergence and he used CCI mainly but seeing that you could apply it on a 210 period basis I decided to try it and I must say it's way ahead of the LRS that I was using as I can tell exhaustion levels and see divergence with it.
Please make sure you share your charts/trades and mark your entries and exits. I'd particularly like to see how you take the breakouts and retests.

Here's how my charts look now (didn't take a trade today as I was watching too many pairs and then had to attend to the j. o. b.)

Enjoy your weekend.

If your are using a windows computer, try this:
Click on Upload From Computer computer> Local Disk (C)> Program Files>your broker meta trader platform>MQL4>Indicators and choose the indicator you want to attach. I've upgraded to build 646 and it's still same process.

Hi All
This thread is really warming up lovely some great stuff here for sure, hopefully all us 1 minute traders can help each other become better traders.

Anyway found my top 8 trender indy from the platform so here it is.



But before I go any further must give credit to the creator of this indy who worked with me to put this together, Hugh Briss, otherwise known as Ted to his close friends. He is a great guy and coder so if you have any ideas you want coding have a chat with him. I'm sure for the right price he will help you out. Thanks Ted great job.

Oh and he has written a book about trading too, smart guy, heres a link to his book. http://www.amazon.com/Swing-Trading-...nd+stochastics

I will endeavour to explain how it works and the best way I've found to use it but I will say it could be used in numerous ways so heres my ideas.

Basically it measures the steepness of a moving average (you can choose which one) then ranks them in order of steepness so the steepest is at the top. The theory is that the fastest moving pairs, trending the most, will have the steepest sloping MA. We monitor 2 timeframes so you can monitor the timeframe above the one you trade. This is useful for a couple of reasons you can either trade the pair when it comes to the top on both or another way I use it is when the same pair is top in both but opposite colours eg going in opposite directions which means a reversal is imminent.

The whole point of following steep sloping MA's is that when you trade with the trend not only will the momentum carry you to profit quicker but also the momentum indicators work really well giving you a higher strike rate. The GBPUSD daily chart below,for instance, gave you 8 winning entries out of 10.



So how does it help? Well first of all look at the top 8 trenders in the daily column and use it as your first filter, go down the list checking out the charts until you see one you like the look of. I liked the look of the gbpusd daily chart(see attached), the red MA is a 100lwma which is the MA used in this example, as you can see GBPUSD is 3rd in our table of top 8 trenders. Check out the others yourself I think theres 4 of the 8 that look really tradable in my opinion.

Now we have our pair to trade and look for a good entry to join the trend.

I like the look of the 1.6800 level for Monday don't you???

So how do we set up the inputs?? See top 8 trenders settings hrly and daily attachment below.




the top 2 inputs are used to space out the table x and y position the indicator on your chart the 5th one is fontsize.

tf1 = timeframe 1 in minutes eg 15 = 15min 60 = hrly 1440 = daily 10,080 = weekly 43,200 = monthly etc
tf2 = timeframe 2 as above
tf1malength = timeframe 1 moving average period
tf1type = 0-simple 2-ema 3-lwma 4-smoothed
tf1maprice = timeframe 1 moving average price applied to 0-close 1-open 2-high 3-low etc
tf1lookback = this is how far you want to look back the moving average to measure the slope. I use a multiple of next timeframe up for 60min I use 24 as 24 hours in a day; for 1 min I use 15 as 15min is next timeframe up. Please try out different periods at your discretion.
tf2 settings are the same as above but just for the higher timeframe.
useatr = this is an interesting one where you can choose to take into account the pairs atr so giving it a volitility filter, without it just the biggest movers, most volitile pairs come to the top. I personally set it to false for lower timeframes like 1 min etc but 1 hr and above I set it to true. But again play around with it yourselves see what siuts you best.

Ok so thats the settings now the difficult part, how best to use it?? Heres some of my ideas:

Straight forward trade the trend using cci for entries.

Look at the chart above and you can see that GBPUSD is in the top 3 so check out the chart and look for a CCI signal back with the trend. I use a 8 CCI as pullbacks in a strong trend can be quite small, I also wait for the CCI to go over -100 level to qualify as an entry. Once cci goes over -100 then wait for first smaller cci candle eg momentum is slowing down and looking to reverse. Place a pending order above the signal candle and see if it gets hit next day, if not and cci candle is smaller than yesterdays then move pending order to next daily candle, continue until trade is hit.

Exit at your discretion or hold until the trend ends. Trail all entries up higher lows until stopped out. Or just grab each momentum move at your discretion.

Heres a 1 minute trade example



This time the top 8 trender is set up for 1 minute and 5 minute and looking at 1 min you can see its showing top of the trenders but more importantly you can see why look at the 100lwma (red ma) its sloping down perfectly, I tend to use 14 cci on the lower timeframes but theres a nice signal at 11.03 which is also a break and retest of my 200sma, one of my favourite entries, and away you go!!

Exit again is discretionary but heres a couple of choices for you;

First green Hieken ashi candle trail stop to top.
The next support level in this case the yellow line (yesterdays close)
Exit first TP at either above and hold 2nd half until 100lwma is crossed over.

Reversal setup

This is one of my favourite setups usually occurs mid morning on a London Openwhen price has been racing one way for 100pips or so appearing in the top 8 for most of the morning as say red (going down) it will also be in the top 8 of the 5 min trenders too. Wait for it to appear in the 1 min top 8 trenders as opposite colour to 5 min eg Green, then enter as above theres every chance it will go back 70% of the move down.

London breakout strategy/ post news strategy

London is when a lot of money comes to the table and often causes a breakout in one pair or another. Well what better way than to see which 100lwma is pouring up or down the page 30 mins after the open??? Look at the top 3 trenders and checkout the chart for a good setup , I like break and retests of key levels as discussed before eg. 25 levels, 200sma, yesterdays high,low close or the daily pivot. oh and of course S and R levels.

The same theory can be applied to a high differential news release, wait for 10 mins after the news release for price action to settle down and a new 1 min trend to setup again which 100lwma is sloping the steepest??? The MA can be changed to say a 20 for an immediate response after news but I find a bit too jumpy for normal trading.


SUMMARY

Basically the top 8 trender can be used on any timeframe to identify the strongest moving pairs on that timeframe. When used on the 1 minute timeframe you will find it chops and changes quite a bit so sometimes use the 5 min as your master and wait for 1 min to agree. The bottom line is its an awesome indicator but thats it, its just an indicator you still have to check the chart out and look for a siutable entry, but trust me once you learn how to use it it can be a great help.

One word of warning sometimes when a pair comes to the top it can have already moved quite away so might be about to reverse, so again use your skills to decide whether that pairs worth trading or not. best time for me is when the 100lwma has just turned up or down after a strong move one way or the other, thats when its the best time to get in and hold.

Well that's me done I'm sure theres all sorts of ways to make use of this indy so good luck and if it helps you become a better trader then don't forget to thank Ted, Hugh Briss, without his coding skills it wouldn't be here.

Your indi doesn't works on my MT4 installations, i get a zero divide error.
Do you have the MQ4 file ?

Sorry just had a chat with Ted (Hugh Briss) about that apparently its because he only wrote it for our own broker Vantage so its probably not working if your broker has a prefix or suffix in front of the symbols???

He is looking into it and hopefully should be able to post a multi broker version later today so watch this space.

Dont suppose you know how to code an EA for multiple brokers do you??

I would say yes and no, if it's not too complicated i know

Right here you go Condor666 heres another version that should run on all brokers platforms, Ted has added 2 more input values prefix and suffix all you have to do is try it first to see if it runs ok. If not then check out your brokers symbols and if they have a prefix (something in front of symbol) then put it in the new prefix input when you load on the expert. If however your broker has something after the symbol then put that into the suffix input.



Thanks to Ted (Hugh Briss) for his help as usual.

Hope this solves any issues if not let me know.

Cheers Clive.

Thanks, it works on brokers with suffix but not on broker without suffix or prefix

Can you tell me which broker you are having problems with and Ted will check it out and get it working for you?

Forget about it, only one broker doesn't works : forex.ee
Armada works perfectly so it isn't a problem

Ok let me know how you get on with it. Meanwhile I am having problems with desk top at home so using mobile phone to post will get repaired Monday so won't be posting any trades or charts etc until I get it working again.
Good luck monday.

Morning all

No real news this morning so might be a bit slow as its monday as well.

Lets see

Rooi

good morning Rooi and all !!

yes let see what happen.

good luck for the week!

cheers

Morning

And the same for you

+ 4
+ 8
= +12

good work !!

I still not found the right entry, will look later again :-)

I'm not hurry.

cheers

I agree.

A bit choppy after the FO , but not uncommon on a monday morning with very little news outstanding for the day.

Plenty of time like you said.

Im done for now as well.

GL for later

Rooi

Just as I type that there is a bit of force shown and I get to finish my day.Think we will range here till NYO

1st trade + 12
2nd trade + 8.4 ( 2 X 4.2)
3rd trade +9 ( 3 + 6 ) {signal was a 2 pips lower but didnt get a nice fill.It happens}

Days pip count = 29.4

Liked the look of my GBPUSD daily chart posted earlier so looking for some GBP strength this mornig to hopefull get a 1 minute entry in direction of the daily trend.

Another useful way to use the top 8 trender is to wait till a currency is dominating the top 8 like GBP this morning so showing GBP strength then look through the GBP pairs for an entry. I missed the pullback but caught a nice little breakout.

Holding at BE now so will see how this pans out today hopefully daily trend will resume for a nice little earner, who knows but can't lose now.

Anyway off to work now so won't be around too much today but will watch it on mobile.

Have a good day, will update on this trade later.