Trading Overview
The strategy aims to capture potential trends, retracements, and breakouts. It is a standard trading approach.

Although mostly discretionary, to aggressively capture opportunities, signals for “Entry Imminent” and “Line Break” are displayed.

Explanation for Short (Sell) Trades

• On the 1-hour chart, confirm a potential downtrend and check for a break of the swing low.
• Switch to the 5-minute chart and observe retracement. It is preferable if an uptrend forms on the 5-minute chart.
• On the 5-minute chart, confirm that the price resumes the trend direction after retracement. Check for a break of the swing low.
• Enter the trade.

Signal Display

• To confirm a potential trend, a down signal is displayed on the 1-hour chart when a moving average dead cross occurs.
• To confirm retracement, a down signal is displayed on the 5-minute chart when a moving average golden cross occurs.
• Manually draw a swing low line on the 5-minute chart and update it as needed.
• To confirm resumption of trend direction after retracement, an “O” signal is displayed on the 5-minute chart when the price breaks the swing low line.
• Enter the trade.

Stop Loss (SL)

• Set at the most recent high on the 5-minute chart.

Take Profit (TP)

• Close the trade if the price breaks above the retracement high.

Dashboard Signal Explanation (from left to right)

• H4 : A down signal is displayed when the price is below SMA 20.
• H1 : A down signal is displayed when SMA 20 is below SMA 80.
• M5 : A down signal is displayed when SMA 20 is above SMA 60.
• M5 : An “O” signal is displayed when the open and close prices cross the line.
• M5 : An “O” signal is displayed if a line has been drawn manually.
• An entry signal is shown when signals 1-3 match. This requires manually drawing the line.
• Enter the trade when signal 4 is displayed.

Performance Overview

• Positions are sized with 1% risk per trade.
• “PL%“ on the dashboard represents the profit/loss percentage relative to the account balance.
• The results shown are for today only.

Reflections

• Monitoring 34 instruments aggressively on the 5-minute chart is very busy.
• Consider using higher timeframes.

Notes

• The line-cross signal only applies to lines drawn using the "Draw_HL_LH_Line" tool.