Re: Scalp Stategy set up

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

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums

I loaded the scalper like you said it looks ok. I also downloaded the Trend Signals. I bought the scalper strategy and indicator only. Do I need to buy the Trend Signal to use it to trade live? Can you explian how to chart or trade on tick volume....."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:

It will work for a limited period and then notify you if you require a license. We will re releases the sclaper strategy over the next 2weeks with a major update to fix overfills stopping the strategy which is the default NinjaTrader behaviour.

Tick based bars such as renko, range 5,10...20 tick are popular for scalping as you have a defined entry point, where as with time based bars the range of the bar can vary and reduce profit oppurtunity, also time based bars and printed regardless if the market is moving or not.

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums

I filtered the indicator and attached a file of it. It looks like a can take 10 pips and traIl for maximum profit. My loss looks like I can stay at a ten pip loss and be out fairly quick if it turns on me. I hope to see a video on the scalper and trend strategy setup. It sounds like I have to wait to mess with this strategy after it is updated??

This is a large learning curve and I don't see a good manual yet on how to setup either. It looks like they are still under development?

I did not see the renko option in the trend indicator. The trend looks very promising too. Please consider a video set up on this one to.

The MT Scalper strategy needs an update to expose the bias filte and will be in the next release over the next 2 weeks.
Not sure what you mean by trend strategy - is that another strategy or a nuance/bias filter added to the Scalper price reversal?
Sure can video on what you want to cover.

We are working on an overfill isuee with NinjaTraders' default trading mode, and aim to release is ASAP, then jump back onto documentation.

Posts on documentation:
https://microtrends.zendesk.com/entries/21008258-scalper-indicator-and-other-indicators-documentation
https://microtrends.zendesk.com/entries/20988076-documentation-on-strategies

There are some videos on you tuber which you may find useful:
http://www.youtube.com/user/MicroTrendsLtd

Renko is a dataseries in NinjaTrader -
You create a chart and use a datasereis such as year,month,week,day, minute, tick, range,renko

I can see you have got the bias filter working in your screenshot, notice how the entry bars are variable, by using a range, or renko bar you avoid variable length bars and is something worth exploring.

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums