Hello:
While development of brand new
M15 system is occurring.
ND_ASCTREND_M15_Ver1
I have spoken to ND about continuing development of the M15 version of his previously documented M1 system so here goes.
With help of others who are experienced with ASCTREND I am happy to help develop further in the short term if no interest in this then I will continue to develop off line anyway.
I have been trading this for about 7 days , I'm still coming up to speed but it seems reliable. (I took 10 pips each on cable and Eur early session today , and have taken 21 pips on cable on that 13:30 bar, drawdown was max of 8 pips.)
So basically the idea is to use the NewDigital M1 set up - but with some minor changes:
- No SAR requirement
- No ATR channel requirements in screen one
- added T3_RSI (8, 8, .8) and set level to 50 (could use CCI, %R or whatever not so important - your choice )
- added I- paramonworktime to highlight CET trade time frame
Use ND's D1 W1 pre trade suggestion, or simply review the pre CET trade time price action - if choppy or can not see say 40 pips movement then go shopping for the day...
Suggested entry:
Wait till CET time frame kicks in
Wait for ASCTrend signal in Window 1
Check for price below / above Roundpricene_pips in Window 1
Check if Labtrend3 signals lined up in Windows 1 ie red for short blue for long
Wait for those ATRstops to line up in Window 2 ie red for short blue for long
Optional wait for NRTR dots to line up ( your judgement required - could be late but sometimes bigger move pending) Can use this for re-entry
I like to see theT3_ RSI above 50 line for long, below for short.
Look for correlation in movement with another major pair
Suggested target and exit:
Price target 10pips - 15 pips on multiple contracts
Ema 100 or nearest major pivot line ( Fibs or normal your choice )
Exit at a recross of major support or ema 100 or SL hit
Suggested initial SL:
15 ( hopefully this will be a reasonable balance )
Extra stuff - Normal trading and TA rules apply
Dont trade if you are emotionally not up to it ie bad day, bad vibes, make sure you are "closed out" and "flat" on any possible distractions from friends work etc.
Demo first
Dont take trade if you see ema 50 or 100 or Pivot immediately in front of you. Wait until you see another opportunity or you get a clear break away.
Remember good trades have a clean TLB on price action
If price oscillating above below ema 50, ema 100 or pivot forget it and get yourself a good beer, vodka or whatever.
Add fibs etc as you like but best to keep these on another screen for clarity
Add fisher_exit ( I have not used this yet )
Dont get greedy....
Any way - if any one is interested to help develop then put hand up !