Understanding the MT Strategy Open Range Trader
PinnedGetting Started with MT open range strategy in the Microtrends NinjaTrader Framework
To get started with a strategy this is the vital basics to understand:
Any strategy consists of 2 separate components
1. MT Signals Indicator
2. MT Strategy Order and Trade Management features *and he MT Easy Trader UI
You need to understand each in turn starting with the MT signals Open Range Indicator
MTNTF7 Signals Indicators
A.Each signals indicator contains a set of parameters found in all the MT Signals Indicators -these are known as common parameters.
B. Each signals indicator will also contain its own unique Trade Setup Rules.
Please click here to view how to Get Started with MTNT7 Signals Indicators
So to start with you should add the MT Signals Indicator to a chart and experiment with its Trade Setup Parameter
And experiment with its other parameters viewing the affect on the chart visually so you understand graphically what is going on and what a signal looks like...
Trading the Signals
Set the rule parameter
EG Trade Setup Mode=1
You would enter a trade long or short manually when you see or hear the signal in realtime.
A Strategy will enter the trade autonomously for you, and also provide historical performance.
MTNTF7 Strategies
Any MTNTF7 Signals Trading Strategy contains the following:
A.Signals indicator with its common and unique parameters for the indicator. So you simply configure the Signals parts as you did with the MT signals indicator on the chart above.
EG Trade Setup Mode=1
B. A set of common Strategy parameters for Order Type and Entry, Trade management and also position size, general parameters for graphics and others all common to a strategy.
For the MT Open Range Strategy please visit here:
https://microtrends.zendesk.com/entries/22657546-MT-open-range-strategy
C. MT Easy Trader if you purchased it..
Please see here:
Overview
http://www.youtube.com/playlist?list=PL15FB5565181D9A9E
Position Sizing
http://www.youtube.com/playlist?list=PLtKS2GMs9w4VWB4WKB7ikryw6Lf5O5Z89
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