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Re: Mini Chart & Value Chart Display Indicators MT4

Jedidiah, Sat Sep 24, 2022 5:42 am

- buy when oversold ("lower" zones);

- sell when overbought ("upper" zones);

- taking onto consideration the colors of the bars on selarate window for value chart indicator, and support/resistance/trendlines of MaksiGen_Range_Move indicator (main chart window);

- trade with stop loss and take profit values (for every trade - with sl and tp);

- trade from 20 minutes till 1 hours per day, mainly between 3 to 7 or 8 GMT time (before any forex news events' time);

- trade the pairs with low spread;

- do not trade very volatile pairs;

- be on the market as less time as possible (the time from open the trade till close this trade should be minimal);

- trade 1 pair only at the time;

- start with 0.01 lot size, max lot size as 0.1 (or 0,1 to 1 depends on your deposit size); always use many management. Because those "up-down" or "down-up" zigzaging lines of value channel indicator can be on any level of the price. And it can be few pips only from enter to exit (and spread can "eat" those pips - you can see some first trades on my statements with loss).

- I used stop loss as 100 pips and take profit as 35 or 25. But I closed the trades earlier than take profit was taken. Just to be on the market as less time as possible (to reduce the risk).

- timeframe: M1 or M5.

- switch the brain off during the trading to become disconnected from the surroundings

The rules are obvious and well-known for scalping.
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