Extreme TMA System | Scalping EA download - MT4/MT5 resources
Hello everyone. My name is Alfredo. You can call me Al.
At the request of many of you, I'm starting today with what I hope will be a thriving laboratory of ideas that will allow each of us to become a better trader every day than we were before. First of all, I must say that I have never done anything like this and I will be relying on your help and contributions to make it a success.
A trader's history, like my own, is a difficult path filled with failure, despair, and loneliness, as well as satisfaction, excitement, and triumph. It is a difficult path, full of obstacles and temptations that can lead you astray, and ultimately, only a determined few will succeed in overcoming the many landmines and potholes in the road and gain the discipline and knowledge needed to succeed.
Looking back now, I believe the tough years were necessary to develop the discipline and determination needed to succeed. Yes, there are some traders who never have a bad time, but they are few and far between. For the rest of us, the road is difficult but full of hope, and it’s a constant daily struggle to control ourselves and remember the lessons learned. After 30 years, I can say that I have learned a few things, but there is more to learn every day. You never reach the finish line, that's the wonder and excitement of this career.
First, I ask for your help and contribution. Let's be constructive and share our knowledge. If we do this, it will be worth it.
System: Extreme TMA .
Markets are cyclical, like a pendulum, a never-ending sequence of extremes. It's forever trying to reach average, but never succeeds, constantly exceeding its goal, twisting and trying again, but always failing to reach equilibrium. The system attempts to capture these extreme situations. This is a summary of my understanding of the market, expressed in its simplest terms.
The principle is not complicated. The main indicator, TMA, shows us the average path that market price movements follow. Therefore, it is a retrospective indicator that attempts to determine the future from recent history. It corrects itself by redrawing itself. It has two outer bands that show us the outer boundaries of the price movement we are looking for. Our second indicator, the ExtremeTMA information panel, displays the TMA tilt angle for all time frames. It determines in which direction the trade must proceed.
MTF TMA: The template contains 7 TMA indicators. M1 TMA (light green), M5 (gold) and M15 (white) are used for scalping. H1 (dark orange), H4 (magenta), D1 (light green), W1 (green) and MN (Sienna) are used for normal transactions. The higher TF TMA is only visible in the lower TF chart. For example: If you set the chart to H4, you will only see H4, D1, W1 and MN TMA. You can change the time range that different TMAs are visible in the Visibility tab of each FastLineTMA metric.
I recommend using the H4 TMA for opening trades and the D1 and W1 TMA for trend direction .
Having multiple TMAs on one chart is very helpful in identifying trends over longer time frames, and combined they have high predictive value for future market movements.
Stop Loss Uses: There are many options in this sector and I would not recommend any particular one. The natural levels for stop loss should be above the previous high (short) and below the previous low (long). I myself only use emergency stops far away from PA (100 pips).
Entry rules (applicable to H4 transactions) :
1- Use the TMA information panel indicator values to determine the H4, D1 and W1 TMA slopes:
Ranging TMA (slope between -0.30 to 0.30): Trading can be done in both directions.
Buy TMA only (slope above 0.30): Only buy trades are made.
Sell only TMA ( slope below -0.30): Only sell trades are made.
The slope values of H4, D1, and W1 must be in the buying range or higher and in the selling range or lower.
2- Wait for the price to climb above the top band of H4 TMA before placing a sell trade or below the bottom band of H4 TMA before placing a buy trade.
3- Trigger: After following rules 1 and 2 , then buy when the price breaks the high of the previous H4 candle, or sell when the price breaks the low of the previous H4 candle.
Although it is not explicitly mentioned in the rules, it is always a good idea to sell from resistance below a test and buy from support above a test. This is always a good rule to follow. It will prevent entering trades too early and increase your profit percentage. Effective support and resistance areas are: 50 or 200 MA, TMA center line, daily, weekly and monthly pivot lines, etc.
Exit rules :
Safest exit: close the trade when price reaches the H4 TMA center line.
Standard Exit: Close the trade when price reaches the opposite H4 TMA band, or set a strict trailing stop (10 pips) until the stop loss is reached.
Supertrends : Slopes below -0.60 or above 0.60 are usually very persistent and can last for a long time. When in a super trend, you may want to hold open trades.
That's it! The system is simple in concept and easy to trade. I suggest you handle it with care. Use a demo account or trade small amounts until it shows consistent profitability and you feel confident about it. A trading system will only continue to work if you truly believe in it. As we move forward, I'm sure we'll improve it and make it more reliable.
Good luck and welcome to our new adventure!
Hall of Fame: The following members have collaborated or had a positive impact to make the system better. The names underlined have made extraordinary contributions:
crozilla , shahrooz67, paradox, lologo, nanningbob , Zznbrm, X-Man, favorite, EasyRyder, mladen, Argonod, Olarion1975, Ever E. Man, Faxxion, flaw, Riddermark, Slow Bochijo , beto21 cwb, Trainman, Baluda, bassramy.
(7-18-2013) Update: During the months of development of the Extreme TMA system, a lot evolved. The indicators we initially used were later replaced by others we developed specifically for the system. The rules have also changed several times. As you start reading this thread, there will be posts referencing items that are no longer relevant. Just skip these and keep reading. There is a lot of information available to help you with your day-to-day trading. Hearing the input from these smart members has definitely helped me a lot. As you navigate through the many pages, everything will make sense and you will witness the formation of a system that is still a key part of my trading approach today.
At the request of many of you, I'm starting today with what I hope will be a thriving laboratory of ideas that will allow each of us to become a better trader every day than we were before. First of all, I must say that I have never done anything like this and I will be relying on your help and contributions to make it a success.
A trader's history, like my own, is a difficult path filled with failure, despair, and loneliness, as well as satisfaction, excitement, and triumph. It is a difficult path, full of obstacles and temptations that can lead you astray, and ultimately, only a determined few will succeed in overcoming the many landmines and potholes in the road and gain the discipline and knowledge needed to succeed.
Looking back now, I believe the tough years were necessary to develop the discipline and determination needed to succeed. Yes, there are some traders who never have a bad time, but they are few and far between. For the rest of us, the road is difficult but full of hope, and it’s a constant daily struggle to control ourselves and remember the lessons learned. After 30 years, I can say that I have learned a few things, but there is more to learn every day. You never reach the finish line, that's the wonder and excitement of this career.
First, I ask for your help and contribution. Let's be constructive and share our knowledge. If we do this, it will be worth it.
System: Extreme TMA .
Markets are cyclical, like a pendulum, a never-ending sequence of extremes. It's forever trying to reach average, but never succeeds, constantly exceeding its goal, twisting and trying again, but always failing to reach equilibrium. The system attempts to capture these extreme situations. This is a summary of my understanding of the market, expressed in its simplest terms.
The principle is not complicated. The main indicator, TMA, shows us the average path that market price movements follow. Therefore, it is a retrospective indicator that attempts to determine the future from recent history. It corrects itself by redrawing itself. It has two outer bands that show us the outer boundaries of the price movement we are looking for. Our second indicator, the ExtremeTMA information panel, displays the TMA tilt angle for all time frames. It determines in which direction the trade must proceed.
MTF TMA: The template contains 7 TMA indicators. M1 TMA (light green), M5 (gold) and M15 (white) are used for scalping. H1 (dark orange), H4 (magenta), D1 (light green), W1 (green) and MN (Sienna) are used for normal transactions. The higher TF TMA is only visible in the lower TF chart. For example: If you set the chart to H4, you will only see H4, D1, W1 and MN TMA. You can change the time range that different TMAs are visible in the Visibility tab of each FastLineTMA metric.
I recommend using the H4 TMA for opening trades and the D1 and W1 TMA for trend direction .
Having multiple TMAs on one chart is very helpful in identifying trends over longer time frames, and combined they have high predictive value for future market movements.
Stop Loss Uses: There are many options in this sector and I would not recommend any particular one. The natural levels for stop loss should be above the previous high (short) and below the previous low (long). I myself only use emergency stops far away from PA (100 pips).
Entry rules (applicable to H4 transactions) :
1- Use the TMA information panel indicator values to determine the H4, D1 and W1 TMA slopes:
Ranging TMA (slope between -0.30 to 0.30): Trading can be done in both directions.
Buy TMA only (slope above 0.30): Only buy trades are made.
Sell only TMA ( slope below -0.30): Only sell trades are made.
The slope values of H4, D1, and W1 must be in the buying range or higher and in the selling range or lower.
2- Wait for the price to climb above the top band of H4 TMA before placing a sell trade or below the bottom band of H4 TMA before placing a buy trade.
3- Trigger: After following rules 1 and 2 , then buy when the price breaks the high of the previous H4 candle, or sell when the price breaks the low of the previous H4 candle.
Although it is not explicitly mentioned in the rules, it is always a good idea to sell from resistance below a test and buy from support above a test. This is always a good rule to follow. It will prevent entering trades too early and increase your profit percentage. Effective support and resistance areas are: 50 or 200 MA, TMA center line, daily, weekly and monthly pivot lines, etc.
Exit rules :
Safest exit: close the trade when price reaches the H4 TMA center line.
Standard Exit: Close the trade when price reaches the opposite H4 TMA band, or set a strict trailing stop (10 pips) until the stop loss is reached.
Supertrends : Slopes below -0.60 or above 0.60 are usually very persistent and can last for a long time. When in a super trend, you may want to hold open trades.
That's it! The system is simple in concept and easy to trade. I suggest you handle it with care. Use a demo account or trade small amounts until it shows consistent profitability and you feel confident about it. A trading system will only continue to work if you truly believe in it. As we move forward, I'm sure we'll improve it and make it more reliable.
Good luck and welcome to our new adventure!
Hall of Fame: The following members have collaborated or had a positive impact to make the system better. The names underlined have made extraordinary contributions:
crozilla , shahrooz67, paradox, lologo, nanningbob , Zznbrm, X-Man, favorite, EasyRyder, mladen, Argonod, Olarion1975, Ever E. Man, Faxxion, flaw, Riddermark, Slow Bochijo , beto21 cwb, Trainman, Baluda, bassramy.
(7-18-2013) Update: During the months of development of the Extreme TMA system, a lot evolved. The indicators we initially used were later replaced by others we developed specifically for the system. The rules have also changed several times. As you start reading this thread, there will be posts referencing items that are no longer relevant. Just skip these and keep reading. There is a lot of information available to help you with your day-to-day trading. Hearing the input from these smart members has definitely helped me a lot. As you navigate through the many pages, everything will make sense and you will witness the formation of a system that is still a key part of my trading approach today.
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