Intraday Trading the Forex market to make consistent profit

[TheRumpledOne]

Thanks YT

Forgot all about that thread

Will have to keep it updated as fine tune some settings every 2 -3 months depending on new PA and all these new Robot time settings

Hope that helps TRO - and any questions - please fire away


Regards


F

If you would tell me what colors go with what settings, then I can attempt to match your chart.

Thanks.

 

[TheRumpledOne]

StockHolyGrail taught me linear regression and RSI(2) years ago back when I was daytrading the stock market.

 

[MajorMagnuM]

StockHolyGrail taught me linear regression and RSI(2) years ago back when I was daytrading the stock market.

white for the first three

 

[sunZy]

From dashed black till dashed blue.

 

[MajorMagnuM]

From dashed black till dashed blue.

hi are those Donchain channels? IF so, have have you decided on the settings?

 

[sunZy]

hi are those Donchain channels? IF so, have have you decided on the settings?

Yes its DC with a setting of 55. What do u mean with decided?
That platform is from my broker but i have MT4 in the background and there i have more DonchianChannels and a TurtleTraderChannel (TTC).

I found out, that if the 55 DC breaks in 4H timeframe (DAX), than it gives high probability (>70%) that the trend will last min 20P.
Second, like i said, i work with TTC (5 and 20) setting and if the 5 TTC breaks the first time without a 20TTC break there is a high probability that the trend goes on.
Especially in the 5M i can find really nice scalp entries.

If u have questions or want to see pictures just say it but its not my thread.

Regards

 

[Forexmospherian]

TRO 's EJ chart - re my colour settings etc

Morning TRO

Re - EJ chart with LR settings

My fastest 3 Lrs are all white for scalping - I distinguish by having the slowest of the 3 in a full line on thicker setting and the other 2 quicker one dotted - differently

After those 3 - then have the traffic light sequence - ie Red / yellow - orange / Green

My 2 longer LR setting thick green dotted and then thick white dotted as the approx 900 or longest

Have attached the EJ - with Asian session showing rise in price - ie

Lr structure Thick white dotted at bottom - then green dotted above - then the red / yellow / green - and the 3 white following the price ultra close

When all Lrs are under price in correct order - strong rise

When white 3 Lrs go over - a pullback or scalp sell

When all Lrs - are above price - in correct order - strong sell

So at 9 39 am Uk time - end of time window - EJ price peaked- quick white Lrs went over - and it was a sell

Then as the white Lrs stayed over price as it dropped and went under red - yellow - green etc - all the LR's started to change - and within 20 mins only the 2 longer Lrs showing structure where still under price.

With a 35 pip drop - the whole structure changed then by an hour later with all Lrs over price - the EJ dropped another 40+ pips - so basically a 75+ pip fall within 2 hrs

LR structure is important - as is the time windows

Sometimes these 2 give better clues than pure PA

Its works best on a tick or 1 min chart - as less lag - nearest the action and structure of the LR's give the next price clues

Hope that helps TRO


Regards


F

 

[TheRumpledOne]

Good day F:

MT4 won't allow thick dotted lines.

But I am SEEING something with the 3 white (fast) LRs.... looks like profit to me. I will review your post.

Thanks

 

[TheRumpledOne]

Studying...

 

[TheRumpledOne]

Seems to be working... So far, so good!

More to come...

 

[Forexmospherian]

EJ - From 9 39 am UK fall to 6 30 pm chart

EJ - 1 min Lr chart attached

Can you see how LR longer term 3 - ie thick white dotted - Dark green dotted and then normal green - are all in correct order still for down - and the green as not crossed up yet with dark green dotted.

I think that would only happen if price can make over 140 25 and 37 area.

If we dont get both - EJ will test 140 00 and maybe lower then - until the 3 white quick LR's can turn a scalp buy into a 20 + pip up move

Hope that helps

Regards


F

 

[MajorMagnuM]

Yes its DC with a setting of 55. What do u mean with decided?
That platform is from my broker but i have MT4 in the background and there i have more DonchianChannels and a TurtleTraderChannel (TTC).

I found out, that if the 55 DC breaks in 4H timeframe (DAX), than it gives high probability (>70%) that the trend will last min 20P.
Second, like i said, i work with TTC (5 and 20) setting and if the 5 TTC breaks the first time without a 20TTC break there is a high probability that the trend goes on.
Especially in the 5M i can find really nice scalp entries.

If u have questions or want to see pictures just say it but its not my thread.

Regards

I would love to see pictures please

 

[TheRumpledOne]

*** WORK IN PROGRESS ***

 

[TheRumpledOne]

EJ - 1 min Lr chart attached

Can you see how LR longer term 3 - ie thick white dotted - Dark green dotted and then normal green - are all in correct order still for down - and the green as not crossed up yet with dark green dotted.

I think that would only happen if price can make over 140 25 and 37 area.

If we dont get both - EJ will test 140 00 and maybe lower then - until the 3 white quick LR's can turn a scalp buy into a 20 + pip up move

Hope that helps

Regards


F

Actually, I can't...

Can you indentify each LR with it's period as in LR150/green dot LR15/solid white?

Need a legend!!

Then I can reproduce...

Thanks

 

[TheRumpledOne]

 

[DowJones]

He's automated Fxmo !!!

 

[TheRumpledOne]

I added labels to the LR indicator so you know which LR it is!!

Now, F, please let me know if I need to change colors/styles.

Thanks

 

[TheRumpledOne]

He's automated Fxmo !!!

It is a work in progress.. getting there.

 

[malaguti]

He's automated Fxmo !!!

we just need the off button now..come on TRO, the fate of many is in your hands :cheesy:

 

[Forexmospherian]

EJ - 1 min chart over approx 2hr - 4 scalp examples

Hi TRO

i have attached the EJ 1 min LR chart - showing an an example - 4 scalps using the 3 white quick Lrs in 4 time windows today

The time approx is from 2 30 pm UK time to just past 4 30 pm UK - ie just prior to London close.

I have marked 2 scalp sells and 2 scalp buys - which basically are worth 71 pips net in that time.

No i did not take all 4 - as was out for 2 - not at desk

I have shown the detail in this chart - which is easily lost when I post a 1 min chart showing an 8 hr or 14 hr period

The 3 quick whites are the low numbers up to 45 - and in the general LR structure - with the 3 main long term ones still saying no buy atm - as mentioned before - we need over 25 and 37 to be looking at a larger turn up now

Remember you need to programme in - all the LRs a shown along with the 9 min time windows - as they are also key for short term intraday both way trades

I think you would admit - 71 pips available in an average 2 hr period with all 4 trades having RR's of over 2 - in fact 2 over 4. is pretty good

The devil is in the detail - ie within the structure - thats why I have so much confidence to scalp in both directions

ie a trend for me is any move above 3+ pips - although I dont really want to chase 3-5 pips - 7 -25+ pips are my forte

Hope this helps

Lr colours mentioned on earlier post - i am used to this set up - but it whats comfortable to the trader .

I took me over a year of 1 min Lrs charts to fully understand them - but nowadays I understand all structures - but of course - will never be 100% accurate

Regards

F