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Originally Posted by increase
Thanks for your help, I have been using #00MM-TimeFrame64 with success for a couple of days, on M5, this morning when I open MT4 the lines are all cramped up so you cannot see the divisions, any comment on what to do, or why?
I changed to zoom and could read them, but I wondered why it suddenly changed
Duh, looks like it was beause I added a couple of indicators below in seperate windows, that compressed MM  |
I have used MM for 18 months and use only the 64 setting. I generally trade off the 5 min while checking out the 1 & 15 min, with a brief check now and then on the 60 min just to see where the support/resistance ( MM Levels ) is and what MACD & RSI are up to.
I confirm MM support/Resistance with MACD/RSI and pick entry off 1 min.
15 min MM Levels & MACD/RSI give me the short term trend strength.
On the 5 min chart when price reaches a potential MM reversal level wait for MACD to start turning RSI Oversold/Bought & where RSI is in relation to the 50 level ( The 50 level can provide support/resistance & help confirm trend ) also look for Pos/Neg divergence on MACD/RSI ( MACD Histogram often gives early warning of price direction changes with Divergence )
Check 1 min to see where price is in relation to MM levels and enter after RSI has turned ( from above 70 or below 30 )up/down and just as MACD Crosses
Works real well in a consolidating market or a trending market
Tonight made 3 good trades all worth 30 plus pips just by trading the short term shifts, the more you use MM levels the better you get to know what price is going to do next.
OH and you have to be really aware of up coming NEWS because that can throw a real curve ball into the proceedings if you are not ready for it.
See the attached 5 minute chart for my trading setup
MM.gif