4 Time Frame No Indicator trading
Hello,
I'm still testing this strategy and would welcome some feedback from more experienced traders?
My strategy has the following components:
Monthly chart with red and blue candles.
Weekly chart with red and blue candles.
Daily chart with red and blue candles.
4 hour chart with red and blue candles, this is the only chart I trade on.
I use the yellow buttons to easily convert between currency pairs.
Trade the 4 hour chart buy setup.
If the monthly, weekly and daily chart candles are all blue candles:
On the 4 hour chart a red or blue candle will form a high and if the next candle forms a higher high then I draw a line from the high of the first candle to the high of the second candle. If the next candle closes above this line, I would place a buy order 20 pips above the high of the third candle.
Trade the sell setup on the 4 hour chart.
If the monthly, weekly and daily chart candles are all red candles:
On the 4 hour chart, a red or blue candle will form a low, and if the next candle forms a lower low, then I draw a line from the low of the first candle to the low of the second candle. If the next candle closes below this line, I would place a sell order 20 pips below the low of the third candle.
Thank you Skiprundide
I'm still testing this strategy and would welcome some feedback from more experienced traders?
My strategy has the following components:
Monthly chart with red and blue candles.
Weekly chart with red and blue candles.
Daily chart with red and blue candles.
4 hour chart with red and blue candles, this is the only chart I trade on.
I use the yellow buttons to easily convert between currency pairs.
Trade the 4 hour chart buy setup.
If the monthly, weekly and daily chart candles are all blue candles:
On the 4 hour chart a red or blue candle will form a high and if the next candle forms a higher high then I draw a line from the high of the first candle to the high of the second candle. If the next candle closes above this line, I would place a buy order 20 pips above the high of the third candle.
Trade the sell setup on the 4 hour chart.
If the monthly, weekly and daily chart candles are all red candles:
On the 4 hour chart, a red or blue candle will form a low, and if the next candle forms a lower low, then I draw a line from the low of the first candle to the low of the second candle. If the next candle closes below this line, I would place a sell order 20 pips below the low of the third candle.
Thank you Skiprundide
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