Trend Manager Trading System - MT4/MT5 Resources
Hello everyone,
Welcome to anyone who wants an easy to follow system and earn consistent points
This system is easy to observe even for a novice, and the simple concept behind this system is based on price action breakouts.
Required indicators:
1. Trend Manager
2. ATR
That's all
Basic knowledge:
Trend Manager construction and some basics: (Knowing this part is not important to profit from it)
In simple terms, a Trend Manager is a very simple price breakout model used to determine the bullish or bearish bias or price bias in the direction of the market. The system simply plots the difference between the midpoints of the high and low ranges within the period of the bar used in the drawing calculation, the default bar used in the calculation is 7, and compares its value with the value of the latest bar in the range 2 older bars or the last bar. So, based on this very simple equation, this is not any complex or mysterious system, so if the price moves above the midline of the range bar in the comparison, it means that the price is simply staying above the range bar, i.e. the price is rising relative to the value used in the calculation.
When TM was guessed, many clones apparently used the Trend Manager indicator's highs and lows. Instead, its original method uses the average of the highest low and lowest high to generate the starting point of the line. Both the midpoint formula and the 7-period assumption appear to be consistent with the bars of the original graph
Attenuated total reflection (average true range)
A common tool used to measure volatility, so it gives a better idea of where a stop loss should be set rather than what my risk tolerance is
Trading rules based on this
Long entry rules:
Enter when the trend manager shows a reversal signal with a blue histogram.
Stop loss rules:
Use X size of ATR (7) value as stop loss. The recommended value is 2X value, but the higher the volatility, the higher the recommended value.
Exit rules:
If you want to better keep exits simple in terms of risk to reward ratio, or exit when a contrary signal appears (whichever comes first), use an ATR value of 2x to 3x the size for your exit (keep exits open and see when the market reaches the 2x risk size zone)
Recommended time frame:
1 hour for any Forex pair (any currency pair with good volatility is most recommended)
Welcome to anyone who wants an easy to follow system and earn consistent points
This system is easy to observe even for a novice, and the simple concept behind this system is based on price action breakouts.
Required indicators:
1. Trend Manager
2. ATR
That's all
Basic knowledge:
Trend Manager construction and some basics: (Knowing this part is not important to profit from it)
In simple terms, a Trend Manager is a very simple price breakout model used to determine the bullish or bearish bias or price bias in the direction of the market. The system simply plots the difference between the midpoints of the high and low ranges within the period of the bar used in the drawing calculation, the default bar used in the calculation is 7, and compares its value with the value of the latest bar in the range 2 older bars or the last bar. So, based on this very simple equation, this is not any complex or mysterious system, so if the price moves above the midline of the range bar in the comparison, it means that the price is simply staying above the range bar, i.e. the price is rising relative to the value used in the calculation.
When TM was guessed, many clones apparently used the Trend Manager indicator's highs and lows. Instead, its original method uses the average of the highest low and lowest high to generate the starting point of the line. Both the midpoint formula and the 7-period assumption appear to be consistent with the bars of the original graph
Attenuated total reflection (average true range)
A common tool used to measure volatility, so it gives a better idea of where a stop loss should be set rather than what my risk tolerance is
Trading rules based on this
Long entry rules:
Enter when the trend manager shows a reversal signal with a blue histogram.
Stop loss rules:
Use X size of ATR (7) value as stop loss. The recommended value is 2X value, but the higher the volatility, the higher the recommended value.
Exit rules:
If you want to better keep exits simple in terms of risk to reward ratio, or exit when a contrary signal appears (whichever comes first), use an ATR value of 2x to 3x the size for your exit (keep exits open and see when the market reaches the 2x risk size zone)
Recommended time frame:
1 hour for any Forex pair (any currency pair with good volatility is most recommended)
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