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Trading inside the channel formed by preReSup indicator is better off, less risky. The DailyHL indicator does provide some supp/resis area. Overall good setup for m30 using brain trend indicator. Credit to New Digital.
i am new to this forum and quite new to fx also. I spend many hours today reading this forum and learnd a lot. Allthough it is so much information my head got puzzled its a exceptional read.
So i thought to get hands on it i started configuring my mt4 with the indicators and the template for M30. I watched the EURUSD chart and spoted a buy signal.
(see attached image)
BT1Sig and BT2Sig are on the same bar. The I-XO is green and greater 0.
The SAR starts on the next bar below the priceline.
Are this the indicators needed for a buy signal or did i miss something ?
What has to happen to exit this trade ? According to the rules the SAR is used for exit. Does this mean in this case the SAR has to be over the priceline ? In short how does one read the SAR indicator.
I am sorry if i am asking questions which are answered somewhere in this forum. I am shurely taking the easy road but there is so much information here i almost can't handle it.
Last thing. Could someone please give me a hint how and why all the other indicators like dayHL, Pivot, S&R etc. on the chart ?
It is very difficult for me to explain in few words. I think it may be better for you to read the threads.
Because some indicators are optional, there are many kinds of exit (for your choice) and so on ...
Everything is posted so I can not repeat it by many posts now.
As to me so I am using SAR on the same bar (not on the next bar), I am trading 'inside the channel': in your image for example - next bar was open near blue dotted line and this blue dotted line is exit for most of the cases if we are trading inside the channel. So, I should not open the order of I see that price just near exit aleady.
But as I said there are many other options to trade according to your trading style for example.
It is very difficult for me to explain in few words. I think it may be better for you to read the threads.
Because some indicators are optional, there are many kinds of exit (for your choice) and so on ...
Everything is posted so I can not repeat it by many posts now.
As to me so I am using SAR on the same bar (not on the next bar), I am trading 'inside the channel': in your image for example - next bar was open near blue dotted line and this blue dotted line is exit for most of the cases if we are trading inside the channel. So, I should not open the order of I see that price just near exit aleady.
But as I said there are many other options to trade according to your trading style for example.
Just for clarification. The "Chanel" is the lower red stitched line and the upper solid red line ?
And if price reaches the doted blue line you exit the trade.
So the optimum would be to go long at the bottom of the chanel and exit it at the blue line or vice versa for a short trade ?
I gues you are doing this for safety reasons because you get predefined trades this way ? You don't take the complete move.
Ok, and now i am going to do my homework and start reading the threads.
"The channel" is between red and blue dotted lines.
I am trading inside the channel because of my deposit size is not big: I simple want to minimize the risk.
There are many ways for exit. Dotted lines are just one of the way (exit not exactly on those lines).
There are images on the thread with full explanation about it.
i used bt system for 3 months now. there is a few version n also malaysian modified bt n i learned a lot from this thread. thanks guys for the great sharing effort.combined with some useful indicators, bt will rock ur pips
File in tpl expention is template. Place this file in templates folder (for example: C:\Program Files\MetaTrader - Alpari UK_1\templates).
Place all indicators in indicators folder.
Compile indicators in MetaEditor.
In Metatrader: open M30 chart, right mouse click on the chart and select 'Template' and click on this *.tpl file.
Linear Mode
