|
Yes, that's correct.
But it should be the price as well.
The example:
separate window 1:
- (6) ATR Stops;
- Price (KGSP indicator);
Separate window 2:
- RoundPriceNE_big_separate (that's right, gold color);
- KGSP indicator (green color);
- NRTR_dots1_separate (just a dots);
- NRTR_Line1_separate (just a line between dots for more better visuality, nothing more).
Most important indicator for trend is RoundPriceNE_big_separate together with KGSP indicator. Analyzing those two indicators (separate window 2) we may understand the tend in general without switching the chart to the other timeframe. We may take into account those two indicators or not - it's up to us. But looking for those two indicators we may say: now (today, half a day) is uptrend (downtrend, flat).
Then RSIFilter_v1. It is local trend identifier for me.
If we are going buy so NRTR_dots1_separate and ATR Stops indicators should in blue color on the previous bar (bar #1). SAR should be in uptrend (bar #1 as well).
For example.
We got all confirmed signal on EURUSD for buy. We are trading EURUSD only (for example).
WE are waiting for USDCHF, looking on GBPUSD and USDJPY. And we got an other fully confirmed signal on GBPUSD (buy as well). We look at USDCHF: RoundPriceNE_big_separate together with KGSP indicator. And RoundPriceNE_pips. If we agree that USDCHF will move to opposite direction we will estimate how long it may be. And we will analize the same things for EURUSD. And we may open buy on EURUSD which was 3 or 5 minutes ago (because we needed the time to analyze everything).
It is not obligatory for us to enter on ASCTrendsig indicator especially. We may wait for the confirmation for example. And we may wait for the confirmation on the other pairs which we are not trading.
Can we trade without confirmation?
Yes.
If we got good fully confirmed signal on EURUSD (for example), and we see the situation that it is "planned" movement so we may enter other pairs. I did it many times.
We should look at the charts during the few hours (periodically) just to open
one or two orders finally. Main job in this case just to look at all 4 charts, looking at the price with some good trend and not to trade (during the half a day for example). Because of some good confirmation is absent.
Re-enter.
We should look at RoundPriceNE_big_separate together with KGSP indicator. They should go all together. If not - RoundPriceNE_big_separate will move to the price (KGSP indicator). But this RoundPriceNE_big_separate indicator can not move very fast. KGSP indicator is much more faster. So in most cases the price is moving to RoundPriceNE_big_separate indicator (and this indicator is moving closer to the price as well but the price is more faster in this action). So I am doing re-enter sometimes (instead of normal stop loss).
If we find two good entries (two possible orders) we may open them. If we are going to stop loss (trend was changed the direction or an other good confirmed signal) we may look at the all the indicators and analyze everything once again (especially RoundPriceNE_big_separate together with KGSP indicator) and in some case we will re-enter on the same direction with orders which already were opened.
M1 timeframe is very risky.
We may use Fisher_exit indicator for exit to take more pips.
If we want to get more pips per order we should take into account the following:
- daily/weekly direction of the trend;
- Price is moving in opposite direction on Friday compare with other days of week (in some cases).
If the price richs ATR_Channels upper line so it should be some movement: ATR_Channels indicator will more up more and/or the price will go down. So we should expect something when the price rishs some ATR_Channel lines). It is the same with Channel trading system (trading inside the channel or on break the channel out) but we have dynamic channel in our ASCTrend system which is more difficult.
And please note that when i am trading I am not thinking a lot. I am trading mechanically without any big thinkings.
Last edited by newdigital; 06-03-2006 at 10:46 AM.
|