Simple Trade with Smart TL
Hi traders!
I trade using some simple strategies and present one of them here.
I believe this strategy is very simple yet logical.
I named it "Simple Trading with Smart TL".
In my opinion, TL is the best tool for looking at trends.
The TL I'm suggesting here is smarter than the usual TL.
My native language is not English. To you, I probably sound like a child. This is also my first topic.
Sorry in advance. Just call me Zuo Zuo.
-Introduction-
This strategy is an inverse trade of SMA(14) with TL on M15. I'm not going to explain here how to trend following trading because I think trading trend following and contrarian thinking -trading simultaneously will give you a brain freeze that will lead to many bad trades,
Additionally, contrarian trading offers more opportunities to trade than trend following trading.
On average, there are one or two trading opportunities per day, not only during the British and American hours, but also during the Asian hours.
I'm sure this method is very simple and does not complicate the chart unless you add other indicators.
- Currency: any currency, but EUR/JPY and USD/CHF are recommended. I explain them on this thread.
-Time frame: M15
*This strategy works on other time frames as well, but I recommend M15.
-Indicators and downloads
SMA(14)
*MA method is "simple" and also suitable for "closing positions".
Daily Pivot Points (for traders who want to profit on daily pivot points)
*Please do not add other indicators.
-download
*Zip file includes experts, indicators, configuration files and templates folders.
Copy the Experts, Profiles and Templates folders and paste and overwrite them into your MetaTrader 4 folder.
You can find "Simple Trading with Smart TL" in your profile folder and view the EUR/JPY, USD/CHF trading examples from June 18, 2013.
*The sample transaction file (chart.zip) is updated at least once a day.
-How to trade
1. Draw smart TL
2. Wait for TL’s rebound.
1. How to draw smart TL *IMPORTANT*
Draw the following four types of TL along SMA(14). We call them "Smart TL".
(A) Blue: Outside High TL (OHTL) - Look for the last two highs (within a few weeks) formed by the SMA(14) and tie them.
(B) Red: Outside Lows TL(OLTL) - Look for the last two lows (within a few weeks) formed by the SMA(14) and tie them together.
(C) Yellow-green: Internal High TL (IHTL) - High TL is drawn based on the SMA(14) between OHTL and OLTL.
(D) Pink: Internal Low TL (ILTL) - Low TL drawn between OHTL and OLTL according to SMA(14).
*These TLs are not always drawable.
*Once SMA(14) is damaged, please do not use IHTL and ILTL.
*You can draw several IHTL/ILTL, but OHTL and OLTL should be drawn one at a time.
2. How to identify TL’s rebound and start trading
-Buy
Price hits OLTL/ILTL (red/pink) and rebounds,
Or price breaks OLTL/ILTL(red/pink) , but SMA(14) doesn't break it,
Then the price closes above the SMA(14) and you can buy.
-sell
Price hits OHTL/IHTL (blue/ yellow-green ) and bounces,
Or price breaks OHTL/IHTL(blue/ yellow-green ) , but SMA(14) doesn't break it,
Then price closes above SMA(14), sell.
-Take profit
Daily pivot points (recommended), touch other TL, or just 20, 30, 40 points, whatever you like, it's up to you.
-break even
Set 20,30,40 points or whatever you like , it's up to you if you want to use BE.
-Stop loss
SMA(14) breaks 1 TL, or just 20, 30, 40 points, as you wish , it's up to you.
- Trading example EUR/JPY
USD/CHF
-Notice
Don't add other indicators or your brain might get confused. I'm showing the simple way, I don't want to complicate the diagram.
If you can't draw the TL well, it's not a day to trade.
Just wait for the next day or try EUR/USD or GBP/USD.
My intention here is to simply trade without any confusing ideas.
The chart should be beautiful. Love charts and become a chart artist!
Please remember it.
-hint
If you can't draw IHTL/ILTL ( yellow green/pink ), it may mean that the trend will continue to rise/fall. Therefore, you may be better off waiting for prices to rebound for LTL/deadweight shipping.
External TL is stronger than internal TL.
To view the entire chart, use ZoomIn(+), ZoomOut(-), Scale fix(F8-Common-ScaleFix)
(I will add more details based on my situation...)
Stay calm and let's have a cool deal!
-EA
For those who don't have enough time to trade, I just did simple trading using SmartTL and EA.
Regardless of SMA(14), the EA will start trading with TL
EA comes from this thread. Learn how to use this EA from this thread.
Place TrendLine_EA_v37.mq4 into the Expert folder.
I recommend using only BlueLine and RedLine.
template:
Buy: Red Line Sell: Blue Line Close: Blue Line/Red Line Target Price: 0 points Yes: 0 points Stop Loss: 30 points
You can change the settings as needed.
I trade using some simple strategies and present one of them here.
I believe this strategy is very simple yet logical.
I named it "Simple Trading with Smart TL".
In my opinion, TL is the best tool for looking at trends.
The TL I'm suggesting here is smarter than the usual TL.
My native language is not English. To you, I probably sound like a child. This is also my first topic.
Sorry in advance. Just call me Zuo Zuo.
-Introduction-
This strategy is an inverse trade of SMA(14) with TL on M15. I'm not going to explain here how to trend following trading because I think trading trend following and contrarian thinking -trading simultaneously will give you a brain freeze that will lead to many bad trades,
Additionally, contrarian trading offers more opportunities to trade than trend following trading.
On average, there are one or two trading opportunities per day, not only during the British and American hours, but also during the Asian hours.
I'm sure this method is very simple and does not complicate the chart unless you add other indicators.
- Currency: any currency, but EUR/JPY and USD/CHF are recommended. I explain them on this thread.
-Time frame: M15
*This strategy works on other time frames as well, but I recommend M15.
-Indicators and downloads
SMA(14)
*MA method is "simple" and also suitable for "closing positions".
Daily Pivot Points (for traders who want to profit on daily pivot points)
*Please do not add other indicators.
-download
*Zip file includes experts, indicators, configuration files and templates folders.
Copy the Experts, Profiles and Templates folders and paste and overwrite them into your MetaTrader 4 folder.
You can find "Simple Trading with Smart TL" in your profile folder and view the EUR/JPY, USD/CHF trading examples from June 18, 2013.
*The sample transaction file (chart.zip) is updated at least once a day.
-How to trade
1. Draw smart TL
2. Wait for TL’s rebound.
1. How to draw smart TL *IMPORTANT*
Draw the following four types of TL along SMA(14). We call them "Smart TL".
(A) Blue: Outside High TL (OHTL) - Look for the last two highs (within a few weeks) formed by the SMA(14) and tie them.
(B) Red: Outside Lows TL(OLTL) - Look for the last two lows (within a few weeks) formed by the SMA(14) and tie them together.
(C) Yellow-green: Internal High TL (IHTL) - High TL is drawn based on the SMA(14) between OHTL and OLTL.
(D) Pink: Internal Low TL (ILTL) - Low TL drawn between OHTL and OLTL according to SMA(14).
*These TLs are not always drawable.
*Once SMA(14) is damaged, please do not use IHTL and ILTL.
*You can draw several IHTL/ILTL, but OHTL and OLTL should be drawn one at a time.
2. How to identify TL’s rebound and start trading
-Buy
Price hits OLTL/ILTL (red/pink) and rebounds,
Or price breaks OLTL/ILTL(red/pink) , but SMA(14) doesn't break it,
Then the price closes above the SMA(14) and you can buy.
-sell
Price hits OHTL/IHTL (blue/ yellow-green ) and bounces,
Or price breaks OHTL/IHTL(blue/ yellow-green ) , but SMA(14) doesn't break it,
Then price closes above SMA(14), sell.
-Take profit
Daily pivot points (recommended), touch other TL, or just 20, 30, 40 points, whatever you like, it's up to you.
-break even
Set 20,30,40 points or whatever you like , it's up to you if you want to use BE.
-Stop loss
SMA(14) breaks 1 TL, or just 20, 30, 40 points, as you wish , it's up to you.
- Trading example EUR/JPY
USD/CHF
-Notice
Don't add other indicators or your brain might get confused. I'm showing the simple way, I don't want to complicate the diagram.
If you can't draw the TL well, it's not a day to trade.
Just wait for the next day or try EUR/USD or GBP/USD.
My intention here is to simply trade without any confusing ideas.
The chart should be beautiful. Love charts and become a chart artist!
Please remember it.
-hint
If you can't draw IHTL/ILTL ( yellow green/pink ), it may mean that the trend will continue to rise/fall. Therefore, you may be better off waiting for prices to rebound for LTL/deadweight shipping.
External TL is stronger than internal TL.
To view the entire chart, use ZoomIn(+), ZoomOut(-), Scale fix(F8-Common-ScaleFix)
(I will add more details based on my situation...)
Stay calm and let's have a cool deal!
-EA
For those who don't have enough time to trade, I just did simple trading using SmartTL and EA.
Regardless of SMA(14), the EA will start trading with TL
EA comes from this thread. Learn how to use this EA from this thread.
Place TrendLine_EA_v37.mq4 into the Expert folder.
I recommend using only BlueLine and RedLine.
template:
Buy: Red Line Sell: Blue Line Close: Blue Line/Red Line Target Price: 0 points Yes: 0 points Stop Loss: 30 points
You can change the settings as needed.
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