Multi Time Frame - Trade Setups

2020년 9월 23일

Muti Time Frame - Trade Setups


How does it work ? Price movements over range of period is used to compute the range moving forward.
As the option for wider time periods are selected more candles are selected for calculation

The Trend Line is the supporting factor to this logic and SMA20 is used as the basis of the trend line.

To Indicate the strength of the trend line , RSI is computed over multiple timeframes and then used to colour the trend line to show its strength

Once the Range is identified it can be considered as the Breakout/Breakdown zones or as the Potential Reversal Zones (PRZ)


How to Deploy / Use

As part of the Indicator there are four Choices that the user can opt for

Show Intraday Trades - This works for Intraday Trades - when the resolution is kept to less than 1 hour ( Say 3 , 5 , 10 , 15 Mins)

Show Short Term Trades - This works well when the resolution is kept to 1 Day - Good for Swing Trades spanning over a few days

Show Long Term Trades - This works well when the resolution is kept to 1 Day or Week - Good for Investments

Show Trend Line - Will show the user the Simple Moving Average 20 based on the resolution selected , The Trend Line Is a repainted based on the hybrid RSI Logic

The Trend Line would show in three colours

Green : The Setup is in Up Trend- Try to take the trade as closer to the band as possible and when it continues to be in green ( and recommended when it would have just crossed from Red/Yellow to Green )
Red : The Setup is in Down Trend - Try to take the trade as closer to the band as possible and when it continues to be in red ( and recommended when it would have just crossed from Green/Yellow to Red )
Yellow : The Setup in sideways Trend ( a new trade isnt recommend in this band

Visual Checks - It is always recommended to enter/exit the trade it it touches crosses over the Trend Line from one side to the other
When closer to the support resistance bands , wait for a confirmation candle to determine if you are getting resistance breakout / support or breakdown

Stop Loss - That should be done by following ones risk appetite , Ideally the open/close of the previous candle should be the stop loss for the buy/sell
but everyone has their own Risk Management Strategies based on the capital deployed.


Usage/Markets : Index Trading / Equities and on proper analysis you may use it for Option Trading also. - Doesnt work that well with Commodities and Currencies


Disclaimer : There could be scenarios when the breakout/breakdown candle is rejected , especially when it is long one
so it is always recommended to have a confirmation candle that open-closes above the breakout candle / open-closes below the breakdown candle


If you like it and find it useful or if you find a defect or bug , Please let us know in the comments .. that would encouraging !! for us to develop it further


Thank you and have a beautiful and Profitable trading session !


How to get access
Please click on the link / email in the signature or send me a private message to get access

Feedback
Please click on the link/email in the signature or send me a private message for suggestions/feedbacks

2020년 9월 25일

릴리즈 노트

Update Date Ranges , Cosmetic Fixes.

2021년 3월 4일

릴리즈 노트

Additional Options :

with the update the daily levels would be not connected to the previous day and when the user would select show short or long term TF ..

The short term support and long term support would now be available only for current week which again add to the screen space for the users

the user would have option to show support level or not .. This is used to give additional screen space to uses

2021년 4월 1일

릴리즈 노트

Cosmetic Updates