1min ind free trading | Foreign exchange indicator download - MT4/MT5 resources
Hi again
The patterns I saw were unimaginative and unoriginal, but they suddenly attracted me
1 minute.... Fast and Furious Well, not really, but if you only have a 30 minute window, the 1 minute chart is the obvious choice if you want to day trade.
No indicators.. I think we all fall into the trap of charts that look more like art and would look better hanging on the wall than weighing in
If I suddenly wanted to trade futures again and moved back from MT to my old charting software, which also provides me with forex charts, I would be very sick if I had a custom indicator on MT that I couldn't replicate on other programs.
It’s also a clutter-free way to trade using only price action
we need to
A good entry point to get started with the technical basics wise TP
Realistic SL
When we trade on the daily chart we often look at the open and close and some may place these lines on the previous day's high and low, after all this is a proven point where buys and sells occur...as it is a technical level.
Now condense it to the smallest time frame and apply the same rules
We will look at prices to 4 decimal places instead of 5, this will increase our transaction rate
Entries
We get a low and a low that match side by side and we go long
We get a high and a high that match side by side and we go short
TP
Since 2 candles are required to enter the trade, we simply take the largest candle from high to low and make that our target. All we want is the size of the price's realized move set in 2 candlesticks. After all, if the largest of the last 2 candles was 5 pips, then why on earth would we think that price would rise from our entry point to 10 pips before reaching our TP. This way, the odds are in our favor
To do this, I load the ATR points indicator and set it to 1 and 1.0
I can then open the navigator tab and use the crosshairs to see the largest candle in the second screenshot
SL
If we go long, our stop loss is 1 pip below the low of the entry candle. If we go short, our stop loss is 1 pip above the high of the entry candle.
I took a cursory look at what happened on Friday from the US open until around 9pm and we had 30 signals
Net point 61
This should be fairly easy if some programming guru could make an indicator, a nice clean way to trade, I can do this in my old charting software but it would be nice to know Jack's knowledge about MT programming.
EA backtesting will prove to be simple and the prices we use are unbiased and have no lagging indicators
That's it for now, have fun
Paulus
The patterns I saw were unimaginative and unoriginal, but they suddenly attracted me
1 minute.... Fast and Furious Well, not really, but if you only have a 30 minute window, the 1 minute chart is the obvious choice if you want to day trade.
No indicators.. I think we all fall into the trap of charts that look more like art and would look better hanging on the wall than weighing in
If I suddenly wanted to trade futures again and moved back from MT to my old charting software, which also provides me with forex charts, I would be very sick if I had a custom indicator on MT that I couldn't replicate on other programs.
It’s also a clutter-free way to trade using only price action
we need to
A good entry point to get started with the technical basics wise TP
Realistic SL
When we trade on the daily chart we often look at the open and close and some may place these lines on the previous day's high and low, after all this is a proven point where buys and sells occur...as it is a technical level.
Now condense it to the smallest time frame and apply the same rules
We will look at prices to 4 decimal places instead of 5, this will increase our transaction rate
Entries
We get a low and a low that match side by side and we go long
We get a high and a high that match side by side and we go short
TP
Since 2 candles are required to enter the trade, we simply take the largest candle from high to low and make that our target. All we want is the size of the price's realized move set in 2 candlesticks. After all, if the largest of the last 2 candles was 5 pips, then why on earth would we think that price would rise from our entry point to 10 pips before reaching our TP. This way, the odds are in our favor
To do this, I load the ATR points indicator and set it to 1 and 1.0
I can then open the navigator tab and use the crosshairs to see the largest candle in the second screenshot
SL
If we go long, our stop loss is 1 pip below the low of the entry candle. If we go short, our stop loss is 1 pip above the high of the entry candle.
I took a cursory look at what happened on Friday from the US open until around 9pm and we had 30 signals
Net point 61
This should be fairly easy if some programming guru could make an indicator, a nice clean way to trade, I can do this in my old charting software but it would be nice to know Jack's knowledge about MT programming.
EA backtesting will prove to be simple and the prices we use are unbiased and have no lagging indicators
That's it for now, have fun
Paulus
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