This Method is very simple. It will give you a structure of the market.
After installing all the indicator, Just go through past price you will get a idea about the system.
I use all the indicator in default value, since I don't believe in too much optimization.
You can use moving average as a helping tools. 200 ema will help you. you can use your favorite one.
when market is trending this system will work excellent.
As you know most of the system fails in choppy or random market. This system also fail in those market condition.
As a discretionary trader your job is stop trading in those market condition.
with this system you can trade any pair and Time frame.
I like to trade trending instrument like US30. You can choose your trading pair. Take screen short after open trade and closing trade. Manage your risk.
Demo it, Demo it, Build your confident.
Remember trading is risky business, trade at your own risk.
MULTIPLE TIME FRAME ANALYSIS (MTFA)
Any trading system could improve if we add MTF analysis, Experience trader develop their MTF intuition that can't be explain all the time.
ADAM GRIMES Books teach us some Good information, I am sharing here some of his work so that traders could learn from his observations.
Multiple time frame analysis provides another layer of depth and richness to market analysis. It can place patterns in one time frame in the context of other time frames to better identify those spots where the patterns are more likely to have arisen due to an actual imbalance in the market rather than as a result of random chance. Many traders assume that higher time frames are more significant; for instance, that patterns on the weekly chart are more important than patterns on 5-minute charts. This is not exactly true—structures on different time frames can take control at any time, and one of the major tasks of analysis is to identify what time frame and what structure are the dominant factors in a particular market at any point in time. There are spots where price action may be completely dictated by what happens on a very short time frame, for instance, 1- or 3-minute charts, and other times when the most important factor might be a level that is visible on weekly or monthly charts. We can usually identify a dominant structure or set of structures on one time frame, and can often watch as control is essentially passed from one time frame to another. For instance, perhaps a resistance level is tested multiple times on the 1-minute chart, and then is broken cleanly with a clear consolidation just below the level. At this moment, the 1-minute chart would be in control, but perhaps this breakout happened at the turn of a pullback on the 5-minute chart. We could then say that the pullback on the 5-minute chart and the subsequent trend leg have taken control as the 5-minute chart becomes the dominant time frame. Perhaps the market eventually runs into a new resistance area on the 30-minute chart, at which point we could identify that as the dominant technical structure. This discussion could apply without any loss of generality to daily/weekly/ monthly or to any other set of time frames, but the most important point is to avoid that naive assumption that higher time frames are always more important. Work instead to identify the dominant technical structures and to understand what time frame has control. There are two broad areas to this study: the impact of lower time frames on higher time frames and the power of higher time frame structures to shape price action and market structure on lower time frames. In practical terms, higher time frame considerations can add confidence to trades, filter other trades entirely, or help to set targets for trades. Lower time frames can help to add precise entry points for bigger, higher time frame patterns, and lower time frame price action can suggest whether support and resistance are more likely to hold or to break on higher time frames. This is an oversimplification, but these factors are the core understanding of how most traders use multiple time frame analysis. This is a difficult subject to teach because traders often attempt to move to multiple time frames before they understand the structures and implications of a single time frame. There is some justification for this attempt—patterns become much more powerful when seen in the context of multiple time frames, and a few simple tools can greatly increase the probability of winning trades. However, it is impossible to develop the intuition and skills needed to comprehend multiple time frames unless you can proficiently read the chart of a single time frame. It is important to fully understand the individual building blocks before trying to create elaborate structures. The situation is complicated further because much of the written material on this subject lacks clarity. The trend seems to be either toward indicator-based oversimplification (e.g., look for long trades while an indicator applied to a higher time frame shows that the higher time frame is in an uptrend) or toward obfuscation and confusion. Neither is good. Multiple time frame trading cannot easily be reduced to a simple rule set, but there are some commonalities and structures that occur over and over again. This section examines a few recurrent patterns and concepts, and lays a foundation for further exploration.
Summary of Multiple Time Frame Analysis
We have just scratched the surface here; to make best use of these concepts they must be internalized, which takes repeated exposure, deep thought, and dedicated study. However, we have covered most of the important core concepts, and, taken individually, they are not complex: There are not always meaningful multiple time frame considerations. The best examples are obvious and clear. Do not get too creative; if you have to work hard to see them, they probably are not there. When a higher time frame is trending, patterns that work with that trend direction on lower time frames will be reinforced. Win rates will be higher, and moves will be sharper and cleaner. When a higher time frame is trending, patterns that run contra to that trend on lower time frames will tend to abort. Though there can be impressive countertrend runs on lower time frames, these have limited expectations and they tend to resolve into with-trend patterns in the higher time frame. Trends that are countertrend to higher time frame trends tend to end at ideal entry points for with-trend entries in the higher time frame trend. When the higher time frame is ranging, expect sharp trends on lower time frames. Some of the best trends actually occur in the context of higher time frame consolidation. Breakouts that might be insignificant by themselves can be reinforced if they occur at critical tipping points in higher time frame structures. When this happens, we can time entries into the higher time frame trades with precision from lower time frames. Ranges on lower time frames are often continuation patterns on higher time frames. This can provide a bias for a directional breakout of these ranges. The character of price action on lower time frames often provides insight into the relative buying and selling pressure behind the market’s movements. There is usually more noise on lower time frames, so be aware of this complicating factor. Armed with these ideas and the examples in this chapter, start to examine markets and trade setups with these ideas in mind. These multiple time frame considerations can add confidence to some of your best trades and may give you justification to cut some losing trades more quickly.
After installing all the indicator, Just go through past price you will get a idea about the system.
I use all the indicator in default value, since I don't believe in too much optimization.
You can use moving average as a helping tools. 200 ema will help you. you can use your favorite one.
when market is trending this system will work excellent.
As you know most of the system fails in choppy or random market. This system also fail in those market condition.
As a discretionary trader your job is stop trading in those market condition.
with this system you can trade any pair and Time frame.
I like to trade trending instrument like US30. You can choose your trading pair. Take screen short after open trade and closing trade. Manage your risk.
Demo it, Demo it, Build your confident.
Remember trading is risky business, trade at your own risk.
MULTIPLE TIME FRAME ANALYSIS (MTFA)
Any trading system could improve if we add MTF analysis, Experience trader develop their MTF intuition that can't be explain all the time.
ADAM GRIMES Books teach us some Good information, I am sharing here some of his work so that traders could learn from his observations.
Multiple time frame analysis provides another layer of depth and richness to market analysis. It can place patterns in one time frame in the context of other time frames to better identify those spots where the patterns are more likely to have arisen due to an actual imbalance in the market rather than as a result of random chance. Many traders assume that higher time frames are more significant; for instance, that patterns on the weekly chart are more important than patterns on 5-minute charts. This is not exactly true—structures on different time frames can take control at any time, and one of the major tasks of analysis is to identify what time frame and what structure are the dominant factors in a particular market at any point in time. There are spots where price action may be completely dictated by what happens on a very short time frame, for instance, 1- or 3-minute charts, and other times when the most important factor might be a level that is visible on weekly or monthly charts. We can usually identify a dominant structure or set of structures on one time frame, and can often watch as control is essentially passed from one time frame to another. For instance, perhaps a resistance level is tested multiple times on the 1-minute chart, and then is broken cleanly with a clear consolidation just below the level. At this moment, the 1-minute chart would be in control, but perhaps this breakout happened at the turn of a pullback on the 5-minute chart. We could then say that the pullback on the 5-minute chart and the subsequent trend leg have taken control as the 5-minute chart becomes the dominant time frame. Perhaps the market eventually runs into a new resistance area on the 30-minute chart, at which point we could identify that as the dominant technical structure. This discussion could apply without any loss of generality to daily/weekly/ monthly or to any other set of time frames, but the most important point is to avoid that naive assumption that higher time frames are always more important. Work instead to identify the dominant technical structures and to understand what time frame has control. There are two broad areas to this study: the impact of lower time frames on higher time frames and the power of higher time frame structures to shape price action and market structure on lower time frames. In practical terms, higher time frame considerations can add confidence to trades, filter other trades entirely, or help to set targets for trades. Lower time frames can help to add precise entry points for bigger, higher time frame patterns, and lower time frame price action can suggest whether support and resistance are more likely to hold or to break on higher time frames. This is an oversimplification, but these factors are the core understanding of how most traders use multiple time frame analysis. This is a difficult subject to teach because traders often attempt to move to multiple time frames before they understand the structures and implications of a single time frame. There is some justification for this attempt—patterns become much more powerful when seen in the context of multiple time frames, and a few simple tools can greatly increase the probability of winning trades. However, it is impossible to develop the intuition and skills needed to comprehend multiple time frames unless you can proficiently read the chart of a single time frame. It is important to fully understand the individual building blocks before trying to create elaborate structures. The situation is complicated further because much of the written material on this subject lacks clarity. The trend seems to be either toward indicator-based oversimplification (e.g., look for long trades while an indicator applied to a higher time frame shows that the higher time frame is in an uptrend) or toward obfuscation and confusion. Neither is good. Multiple time frame trading cannot easily be reduced to a simple rule set, but there are some commonalities and structures that occur over and over again. This section examines a few recurrent patterns and concepts, and lays a foundation for further exploration.
Summary of Multiple Time Frame Analysis
We have just scratched the surface here; to make best use of these concepts they must be internalized, which takes repeated exposure, deep thought, and dedicated study. However, we have covered most of the important core concepts, and, taken individually, they are not complex: There are not always meaningful multiple time frame considerations. The best examples are obvious and clear. Do not get too creative; if you have to work hard to see them, they probably are not there. When a higher time frame is trending, patterns that work with that trend direction on lower time frames will be reinforced. Win rates will be higher, and moves will be sharper and cleaner. When a higher time frame is trending, patterns that run contra to that trend on lower time frames will tend to abort. Though there can be impressive countertrend runs on lower time frames, these have limited expectations and they tend to resolve into with-trend patterns in the higher time frame. Trends that are countertrend to higher time frame trends tend to end at ideal entry points for with-trend entries in the higher time frame trend. When the higher time frame is ranging, expect sharp trends on lower time frames. Some of the best trends actually occur in the context of higher time frame consolidation. Breakouts that might be insignificant by themselves can be reinforced if they occur at critical tipping points in higher time frame structures. When this happens, we can time entries into the higher time frame trades with precision from lower time frames. Ranges on lower time frames are often continuation patterns on higher time frames. This can provide a bias for a directional breakout of these ranges. The character of price action on lower time frames often provides insight into the relative buying and selling pressure behind the market’s movements. There is usually more noise on lower time frames, so be aware of this complicating factor. Armed with these ideas and the examples in this chapter, start to examine markets and trade setups with these ideas in mind. These multiple time frame considerations can add confidence to some of your best trades and may give you justification to cut some losing trades more quickly.
