Re: Scalp Stategy set up - 4 hour trend bias filter on 15min trading time frame

Originally from ticket #1298.

I want trade it with the EUR/USD and the GBP/USD. Later on the Emini 500 and GC gold. First the USD pairs.... I like to trade on a 4 hour trend and 15 minute signal light. I am looking for 20 to 30 pips a day. I will trade from european session and through the US sessions.

Hi

Currently working on upgrading the trade engine that powers all MT Strategies - then to drop back on to the documentation and settings etc

So you are saying you need a 4 Hour Bias Filter and a 15Minute Trading Time Frame.

There was a small oversight where the MT Scalper indicator lets you use a bias filter but the strategy has not exposed it to the user... so we need to rel-releas it. However you can use the MT Generic Signal Trader strategy to pick up the signals from the indicator if you add them to the same chart.

You could use the MT Scalper Strategy and simply filter out shorts or longs manually based on your technical anlaysis of the higher time frame 240min chart etc.

I would suggest you also consider not time based bars so that meaningless bar prints dont give false signals, with tick,volume based series they only print when there is action.

So tick 144,233...987 10,000, etc renko,range 5,10,
MicroTrends Bars:
https://microtrends.zendesk.com/entries/20889931-microtrends-bars

Also adjust the tick sizes for 10th pips if you are using tenth pips for Forex
Check in Tools >options > data > pipsize

Here is the MT Signals Scalper running on a 15min chart using a rising falling Higher Time Bias Filter from the 240min (4 hour chart loaded invisibly as secondary bars) the EMA 10 period on the 240min is plotted on the Trading Time Frame Chart, so it will be flat and hold is value for 4 hours...

Parameters:
http://screencast.com/t/wWT7EpDS7k

Bias HTF Mode: 1 (load secondary bars)
Bias HTF Period:240 ( 240 mins in this case)
Bias HTF Period Type: 4 (Minutes)
Bias Mode: 1 rising/falling
Bias Period: 10 ( bias study 10 period)
Bias MA Type: 0 ( EMA)

Please let us know if you want any extra functionality or have any questions

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Tip! You can visit the help desk forum to see previous answered frequently asked questions:
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