Triple screen trading system for metastock
As we triple know trading can be confusing and frustrating and its not always easy to find a method that is simple and effective. Im sure most of you will have seen the triple screen system developed by Dr Alexander Elder and it is my belief that there has always been something missing from the system to make it complete. Having studied the markets for some years now i found that there are 3 phases to the market that can be metastock to quite good effect to trade with a high probability of success. If there is enough interest in this method i will be starting a live trading group for anyone who is interested to learn this method and yes there will be a charge for this but first lets go through some of the basic theory. I will discuss these phases here in simple terms, lets think of the price movement in the markets as a ladder and our work is to climb up or down that ladder to get to the treasure. To make a ladder we first need the sidebars once we have the sidebars we then need the steps placed between the sidebars to complete the ladder ,ok so we have a ladder so now we need something to lean the ladder against to be able to climb up or down, we can lean the ladder against a wall to climb up to the top and back trading again or we can place the ladder in a hole and climb down and back up again. It sounds simple because it really is that simplenow lets take a look at the three phases in terms of trading. It is similar to SAFE Automatic robot intended for traders having no knowledge of trading basics. It works in Low, Medium, High and Extremal trading modes. Trading strategy The EA applies modified versions of well-known strategies, including Elliott waves, following a trend, half-pyramiding, scalping, speculative trading with a double deposit protection. The EA switches the strategies automati. The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels. Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level fractal without further confirmation with the close price. Setting a necessary virtual order and entering the market in. The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. Metastock script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels. Automation of the process of placing the Sell Stop pending orders, Stop Losses and T. 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The good results are achieved on EURUSD. Trading Strategy The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The robot does not trade at night from 10 p. The robot was tested in the special tester on real ticks. The EASIEST way to manage your risk for each trade! Add the indicator to your chart, configure a risk percentage of account equity Enter the number of pips for your stop screen into the text entry field that appears on the chart The position size to take will automatically be updatedThe product features two modes - a compact mode which allows entry of stop loss pips and system the resulting lot size based on the percent risk setting, as well as an expanded mode that also shows. The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency. The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of system financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. Who will be interested in this product: The panel is designed to make managing a large number of orders as easy as managing one. The prices and stop levels are set. User can metastock the price valu. So that in combination with a chart representing currency price it is easy to screen whether the current situation is good for trading. And when you open a position it will clearly show you the current data such as SL, TP, RR. You are not limited to currency. 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It uses five variables as spread values: Spread level at the bar opening; Maximum spread level reached during the bar; Minimum spread level reached during the bar; Spread level at the bar closing; Average spread level within the bar displayed as a green dot on the corresponding level of the bar Apart from displaying price bars, SpreadRecord also provides a small built-in panel showing the curre. American, European, Asian and Pacific. Sessions are displayed trading the previous five days and the current day only. The number of days may change depending on the holidays - they are not displayed in the terminals. The sessions are also not displayed on Saturday and Sunday. The main trading hours of. This indicator shows how much time is left on the current candle. You have absolute control over appearance of remaining time label. 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VirtualTradePad PositionsStyle VirtualTradePad Ordersstyle VirtualTradePad SignalsStyleDemo version of the panel - VirtualTradePad LiteProfit or Loss PadINFO PadYou can also try this panel for. This is the test product. Please, DO Triple BUY IT! This indicator gives full information about the market state: It has two graphical components: Positive values show an ascending trend and negative values - a descending trend. Green bar is for up motion, red one - for down motion, and the yellow one means no trend. Signal line is the value of the histogram you can enable divergence. S2 Trend At Wavelet is designed to eliminate the noises on the Price Chart. A metastock picture of the market flow will be seen due to the elimination of the unnecessary variations on the chart. Capabilities of S2 Trend: This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal. The EA will copy all positions without delays Additionally integrated notification in situations requiring user. Fast Copy MT5 allows to copy trades between different MetaTrader 5 netting hedge and MetaTrader 4 accounts in any direction and amount, quickly and easily without loading the system. Which time scale do you get your market information from trends? Phase 1 is the steps the steps are the trend, so as i have outlined above it would be the lowest timeframe of the 3 you choose. The entry also comes from the retracements in the trendwe move up the ladder with caution because we know that eventually there will be no more steps to climb as we will reach screen top of the wall ,so each time we move up the ladder we take our foot off the ladder and step back slightly take a look up and decide if we should continue. If you get both the market trend and your trade signal for the lowest chart 60M in your case. Phase one shows when the market is creating the steps of the ladder or the trend for gives us the entry screen on the retracement of the trend. Phase 2 shows the steps within the sidebars of the ladder and in trading terms simply shows that the lower timeframe is moving faster than the middle and this is important as any trend will begin from the lower timeframes as the price moves through to the higher timeframes. Phase 3 tells us wether the ladder is propped against the wall in the right directionin trading terms this tells us wether the trend is moving in the direction of the higher timeframe. We need a method to be able to identify each phase with a fair degree of reliabilityfor example looking at phase one which is the steps of the ladder or the TREND how do we identify thiseasy to say for an uptrendnew low ,high,higher low ,higher high, this is the definition of an up trend according to the text books the problem is none of the text books actually give a solid method of identifying the trend, think about it metastock, if we view the market on our trading platform as bars and draw trend lines in what we think is the trend just by visual identification we could never be sure its correct so for need some kind of indicator to do the work for us that is consistent in what it is showingthats exactly what i have ,now im not saying that it is triple holy grail or anything like that but the indicators that i use have stood for test of time and do show the trend and each stage of the triple screen method i am discussing without any doubt im my mind and experience. Take a look at the chart called "trend" its a 60 minute chart of the AUDJPYi have placed the trendlines where the indicators i use tell me that each swing begins and ends which makes the trendso here we have an uptrend or our ladder and as you can see the last two swings up were our trades after the trend screen formed. Phase one gives us a lot of informationnot only the trend but also the retracements which are pauses in the trend and these allow us to take entry into the trend should trading new swing into the trend begin. How do we know when the retracement has ended? If the next swing up does not begin then there is no trade and this is extremely usefull as it avoids taking trades when the trend has ended, occasionally we do get a new swing signaled at the top of the trend which merely turns into a retest of the prior top or a failed retest and the market reverses either into a deeper correction or a reversal but the trading strategy will save any major losses and in most cases even the retest quite often yields some profit. So far then we have used phase one or trend phase to show the steps of the ladder trend the retracement for the entry and the beginning of the new swing up giving us the entry point so it stands to reason that when the new swing up begins we can place a reasonable stop under the low of the point where the new swing began. During phase 1 we are watching for a trend to develop and i discussed this using the analogy of the steps to a ladder. Now we need the sidebars for the steps to be able to climb the ladder safely and we can view these using the next time frame higher which in our AUDJPY example from phase 1 would be the minute as we started on the 60 minute. Another way to think of it is that our ladder is of the extending type and each timeframe has a ladder so we need our steps from the 60 minute to be extending up over the the next higher timeframe. In trading metastock this just serves to confirm that the trend from phase 1 is moving faster and in the same direction as the next higher timeframe or phase 2. See how the ladder now has 2 sides with the steps in the middle or if you like the 60 minute is extending over the minute the lines are there to replace the indicatorsthe indicators i use show us in a very nice way on the chart what is happening in each of the phases with no guesswork ,no gut instinct needed or feeling or any of that kind of nonsense. Now its just a case of making sure that the ladder is proped up in the same direction as the daily in our case. TAKE A LOOK AT CABLE DAILY ALREADY MOVED SOME 70 PIPS DOWN FOR A NICE TRIPLE SCREEN TRADE. Before i move on to the next phase of the triple screen i would like to take this opportunity to invite any of the admin from forex tsd to witness how the method works as im sure that your opinion will be valued and trusted by the members here. White trend lines are the steps. To add comments, please log in or register. The 60 minute will represent the steps The will represent the sidebars The daily metastock represent whatever we lean the ladder up against. FULL Automatic by Petros Shatakhtsyan. Virtual pending buy stop order by Gennadiy Stanilevych. Virtual pending sell stop order by Gennadiy Stanilevych for Delta New by Alexey Chernyh Veno EA MT5 by Alexey Kondratyev. SAFE Automatic robot by Petros Shatakhtsyan. Easy Position Size Calculator MT5 by Johan Venter Spread and Swap monitor by Gennadiy Stanilevych Forex Voyager by Alexander Vinogradov. FXG Info Full by Tomasz Nowak Megatrend Monitor SF by Aleksandr Praslov. Equity ProfitLoss Control by Elena Alexandrova Actual COMBO Depth of Market AND Tick Volume Chart by Sergey Andreev. MINI CHART INDICATOR ADD by Cuong Pham Arbitrage Visualiser Pro MT5 by Maxim Dmitrievsky. Easy Order by Tino Tkalec. Profit or Loss Pad by Vladislav Andruschenko. Spread Record Standart MT5 by Vasiliy Sokolov TTMM Time To Make Money by Dmitriy Zabudskiy triple Candle Time by Tino Tkalec Auto Trade Copier for MT5 by Vu Trung Kien. PZ Turtle Trading MT5 by Arturo Lopez Perez. Dashboard Babon Scalping System MT5 by Wang Yu Trading Chaos System by Gennadiy Stanilevych. VirtualTradePad One Click Trading Panel by Vladislav Andruschenko. MQTestInd4Market5 by Alexey Da Trend check by Vladimir Gotsulenko S2 Trend At Wavelet by Soft System Kish Trading by Alexander Puzikov. Fast Copy MT5 by Pavel Kolchin. I see your just trying to make it sound more complicated then it is, or has to be. Phase 1 or the trend LETS TAKE A CLOSER LOOK AT EACH OF THE PHASES We need a method to be able to identify each phase with a fair degree of reliabilitysystem example looking at phase one which is the steps of the ladder or the TREND how do we identify thiseasy to say for an uptrendnew low ,high,higher low ,higher high, this is the definition of an up trend according to the text books the problem is none of the text books actually give a solid method of identifying the trend, think about itif we view the market on our trading platform as bars and draw trend lines in what we think is the trend just by visual identification we could never be sure its correct so we need some kind of indicator to do the work for us that is consistent in what it is showingthats exactly what i have ,now im not saying that it is the holy grail or anything like that but the indicators that i use have stood the test of screen and do show the trend and each stage of the triple screen method i am discussing without any doubt im my mind and experience. PHASE ONE EXAMPLE Take a look at the chart called "trend" its a 60 minute chart of the AUDJPYi have placed the trendlines where the indicators i use tell me that each triple begins and ends which makes the trendso here we have an uptrend or our ladder and as you can see the last two swings up were our trades after the screen was formed. Quite a lot of information from one timeframe, trend,retracement,entry,stop and exit. Phase 2 - The sidebars PHASE 2 - THE SIDEBARS During phase 1 we are watching for a trend to develop and i discussed this using the analogy of the steps to a ladder. Take a look at the chart below "the sidebars" See how the ladder now has 2 sides with the steps in the middle or if you like the screen minute is extending over the minute the lines are there to replace the indicatorsthe indicators i use show us in a very nice way on the chart what is happening in each of the phases with no guesswork ,no gut instinct needed or feeling or any of that kind of nonsense. TAKE A LOOK AT CABLE DAILY ALREADY MOVED SOME 70 PIPS DOWN FOR A NICE TRIPLE SCREEN TRADE EURGBP DAILYA VERY NICE SET UP. Phase 3 - trading screen PHASE 3 - Lets see if our ladder is proped up in the for direction so its safe to climb. Just a recap Phase trading - the steps trend is formed Phase two - the ladder is formed with phase one extending above phase two now we need a wall in the case of the AUDJPY to prop our ladder up and climb and collect the treasure pips as we go, as you can see in the picture our ladder is leaning nicely up against the wall. Take system look at all three phases together in the picture below the wall White trend lines are the steps Blue trendline the ladder Red trend line is the wall that completes the triple screen system set up of course i have replaced the indicators used with the trendlines.
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