I had an idea yesterday when watching a Darwinex video about diversifying by trading the same strategy on different timeframes.
My idea would be to use confluence but on several timeframes :
for example :
if I have a buy signal, on the M30, H1, H4 and D1 timeframes then I buy, but only if these four are in correlation (you an use other TFs it's just an example)
anybody tried that ?
my hope would be to improve winrate.. but does it work ?
thanks
Jeff
Re: Same strategy on the different timeframes?
2Good question J! Been there done that brother. It doesn't work because by the time you get in, the trend is usually finished or some bullshit news event derails you.ionone wrote: Sat Mar 20, 2021 8:36 pm if I have a buy signal, on the M30, H1, H4 and D1 timeframes then I buy, but only if these four are in correlation (you an use other TFs it's just an example)
anybody tried that ?
Some leading indicators can get you in just in time, such as those in the 4 Timeframe MTF indicators thread. But for me, I don't use this approach, even though I know it can work.
As myself and Xard tell traders, look at the higher timeframes first and use those as the basis of your intraday trades.
To be more specific, for me:
- I have 8 currency pairs open.
- I look at the Weekly charts only.
- If the Weekly is up, I will only look for Buy signals on all other timeframes.
- If the Weekly is down, I will only look for Sell signals on all other timeframes.
That's it! And it's been working well for me for years, so much so that I noted this approach in our TDI Infographic a few years ago.
PS: Sorry if I have veered off course with my response.
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Guide to the "All Averages" Filters (ADXvma, Laguerre etc.)
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance
Re: Same strategy on the different timeframes?
3It does work, of course, but you have to know what you are doing (because the higher TFs will recalculate - not repaint).Jimmy wrote: Sat Mar 20, 2021 9:35 pm Some leading indicators can get you in just in time, such as those in the 4 Timeframe MTF indicators thread. But for me, I don't use this approach, even though I know it can work.
Normally you end up taking the same trades you would enter using Jimmy's method.
Re: Same strategy on the different timeframes?
4yes............. love dis and i remember u helping everyone on FF years ago wit this approach on TDI & trading made easy u showed when u get signal on 4H TDI u zoom to 5 min chart & enter when TDI gets signal thereJimmy wrote: Sat Mar 20, 2021 9:35 pm I have 8 currency pairs open.
I look at the Weekly charts only.
If the Weekly is up, I will only look for Buy signals on all other timeframes.
If the Weekly is down, I will only look for Sell signals on all other timeframes.
- These users thanked the author moey_dw for the post (total 2):
- Jimmy, Forexlearner
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The best divergence indicator in the world.
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See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com
Re: Same strategy on the different timeframes?
5Haha, I did!moey_dw wrote: Sat Mar 20, 2021 9:50 pm yes............. love dis and i remember u helping everyone on FF years ago wit this approach on TDI & trading made easy u showed when u get signal on 4H TDI u zoom to 5 min chart & enter when TDI gets signal there
Those were the days
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No commissions are earned by Forex-station.
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Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance
No commissions are earned by Forex-station.
Guide to the "All Averages" Filters (ADXvma, Laguerre etc.)
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance
Re: Same strategy on the different timeframes?
6gimma gimmajosi wrote: Sat Mar 20, 2021 9:47 pm It does work, of course, but you have to know what you are doing (because the higher TFs will recalculate - not repaint).
Normally you end up taking the same trades you would enter using Jimmy's method.
Re: Same strategy on the different timeframes?
7From my research, the best results can be obtained if using timeframes with 4/5:1 scale.
For example. take H1 as a trend timeframe and M15 as entry. Or whatever is within your preference.
Also, be careful to not use indicators with too much lag, I can't stress how important is this.
For example. take H1 as a trend timeframe and M15 as entry. Or whatever is within your preference.
Also, be careful to not use indicators with too much lag, I can't stress how important is this.
Re: Same strategy on the different timeframes?
8Official Forex-station GIF animator at your service
See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com
See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com
Re: Same strategy on the different timeframes?
9Hahahahaha
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Re: Same strategy on the different timeframes?
10The same patterns occur on all time frames. Use higher time frames for general direction and bias but it is possible to catch a lower time frame up trend during the retracement in a HTF down trend. The whole notion that lower time frames can only be used for scalping is false in my opinion.
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