1 minute triangle (1min triangle) | Foreign exchange EA download-MT4/MT5 resources-MetaTrader 5 resources

Hi

It's been a long time since I've posted a new post, mostly because I'm happy with the system I have

However, while waiting for the 5 minute trade to start, I started focusing on the 1 minute time frame

Very simply, this... throws out good signals, a short explanation...

Timeframe - 1 minute swap - I use EU
Start in London End in London Stop

pattern

We look for 3 patterns

1 - A period of time when a candle begins to form lower highs and higher lows, if you saw this on a piece of paper you would expect to see that this creates a triangle with the two points intersecting on the right

2- The period when candles start to form lower highs and lows, if you look at it on a piece of paper you would expect to see this create a triangle with 2 points meeting to the right and a flat bottom

3 - The time period when the candle begins to form higher lows and highs, if you plot this on a piece of paper you would expect to see that this creates a triangle with 2 points intersecting the right side of the top flat

In all 3 cases, buyers and sellers are competing for price, resulting in price compression

When the closing price is above or below the line we have drawn, we place a trade with a stop loss 1 pip above or below the line we have drawn.

I don't aim for pips at all on any trade, I aim for percentage gains

So I risk 5% on each trade and close the trade when I reach a 10% profit, which gives me a risk reward of 2;1 on each trade regardless of pip size

To help us determine the actual maximum value of the candle, we just use the standard zigzag

I use this to take 10% off the market every day and on Friday I got a 30% return on my account

shortcoming

One has to be alert to the chart, once you see a lower high, for example, we draw the line and wait to see if we get to a horizontal bottom or a higher low

I then prepare my market order and when I receive a candle with a closing price above or below the triangle, I just click "Buy" or "Sell"

Depending on your broker, you may not be able to set a hard stop, especially if it's close to the deal price, so I manually take the stop loss and take profit and prepare to close the position again

Please don't try to copy my exact trades, it won't happen.

I try to look for patterns that have more than 1 candle between any points AB BC CD DE etc. These seem to be more explosive

For patterns like AB BC CD DE you can ignore the 1 candle rule as shown in the second chart on the second trade

Also, sometimes price may form lower highs and lower lows but still end up meeting at point X, which is still a compression pattern, an example of which is on the second chart

It shows a loser and then a winner as shown above

have fun

If I have a signal with a stop loss of 6 pips, my target price will be 12 pips and if I win, I will receive 10% on my account

If I receive a 60 pip stop loss signal, my TP is 120 pips and if I win, I will get 105 in return on my account

In both cases my risk is only 5%

I made around 75% profit in the window or trade I chose

P