TMT Scalping system

This topic has 18 replies, 2 voices, and was last updated 3 years ago by Nicolas.

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05/26/2016 at 2:41 PM #8139

Nicolas

Because one of my customer ask me to convert a complete set of indicators and a template from a manual trading strategy found in FF and babypips, from MT4 to PRT, i’m sharing here the whole thing. He’s OK to share the stuff with everyone. I asked him because I found this project interesting and may certainly be in interest of any other people here.

This is a copy/past of the rules found at FF:

HISTORY
I’m NOT the creator of this system. The original system can be found on BabyPips Free Trading Systems
I want to share it here because i have read that a lot of people already have success in trading it. Some already doubling their live accounts!

TMT Means
Trend-Momentum-Trendline
The logic of the system means trading trendline breaks in the direction of the trend and momentum.
Therefore, increasing the probability of the trendline break setup… Also, Drawing trendlines require knowledge in price action

COPY & PASTED RULES
Timeframe
M5 or M15

Buy Rules
1. Daily candle is Green
2. RSI Filter is Blue
3. MFI Meter is Green
4. Uptrend (7 EMA is above 20 EMA)
5. Price pullback inside 7 and 20 EMA
6. Draw TrendLine from highest swing
7. Wait for price to break above trendline and bar is closed
8. Set your targets

Sell Rules
1. Daily candle is Red
2. RSI Filter is Pink
3. MFI Meter is Red
4. Downtrend(7 EMA is below 20 EMA)
5. Price pullback inside 7 and 20 EMA
6. Draw TrendLine from lowest swing
7. Wait for price to break below trendline and bar is closed
8. Set your targets

Optional Rules
1. Trade on London/US session
2. Avoid trading 30Minutes before and after Major News

Stoploss & Takeprofit
10-20Pips
I can set my SL = 10Pips and TP = 10Pips
I can set my SL = 10Pips and TP = 15Pips
I can set my SL = 10Pips and TP = 20Pips
I can set my SL = 7Pips and TP = 20Pips
Risk Reward can vary from 1:1 to 1:3
This will depend on market structure of the setup present
**I think this section depends on trader, because personally i would like to set my SL and TP on support and resistance levels
**Money Management is also dynamic and will depend only on the trader pulling the trigger

Please find attached the whole indicators. The big daily candlestick indicator is only intended to work on the prorealtime version 10.3 version.

3 users thanked author for this post.

Andre Vorster,

AVT,

Adolfo

Nicolas

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05/26/2016 at 2:44 PM #8144

Nicolas

Please find below some trade examples.

(note: I’m not the author of this strategy and I don’t trade it myself).

Nicolas

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05/27/2016 at 6:17 PM #8247

Sofitech

Hello Nicolas.
I still have my itf import problem.. could it be possible to post the code for MFI Filtered and RSI Filtered ?
Will contact Prorealtime next week about this itf import problem.

Sofitech

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05/30/2016 at 8:47 AM #8346

Sofitech

Hello Nicolas.
If possible, could you copy and paste the PRT codes for MFI Filtered and RSI Filtered ? … and the mq4 file so i can compare them to the indicators i have (i have only ex4 o these 2 indis and would be happy to have the source code).

Sofitech

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05/30/2016 at 9:09 AM #8348

Nicolas

Hello, please find below the source code of these 2 indicators:

MFI filtered:

i = MoneyFlowIndex[14]

q=1

if i>50 then
 filter=1
else
 filter=-1
endif

RETURN q coloured by filter

i = MoneyFlowIndex[14]

q=1

if i>50 then

filter=1

else

filter=-1

endif

RETURN q coloured by filter

RSI filtered:

i = RSI[8](close)
avg = average[8](i)

if avg>50 then
 filter=1
else
 filter=-1
endif

RETURN filter coloured by filter

i = RSI[8](close)

avg = average[8](i)

if avg>50 then

filter=1

else

filter=-1

endif

RETURN filter coloured by filter

Nicolas

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05/30/2016 at 9:11 AM #8349

Sofitech

Very nice. Thanks. Have you the mq4 version so i can compare to the one i have ?

Sofitech

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06/02/2016 at 2:51 PM #8649

JR1976

Good afternoon Nicolas,

I tried to start a trading strategy with some rule , but I have only short position , DO you know Why ?

Follow the code

Regards

DEFPARAM FLATBefore = 083000
DEFPARAM FLATAfter  = 180000
 
//TIMEFRAME(daily)
bullish = DOPEN(0)<DCLOSE(0)
bearish = DOPEN(0)>DCLOSE(0)
 
//TIMEFRAME(default)
MFI = MoneyFlowIndex[14]
if MFI>50 then
MFIfilter=1
else
MFIfilter=-1
endif
 
mRSI = RSI[8](close)
avg = average[8](mRSI)
 
if avg>50 then
RSIfilter=1
else
RSIfilter=-1
endif
 
mm7 = exponentialaverage[7](close)
mm20 = exponentialaverage[20](close)
 
insideEMA = (low<mm7 and high>mm20) or (low>mm7 and high<mm20)
 
 
 
//LONG conditions
IF bullish  and MFIfilter>0 and RSIfilter>0 and mm7>mm20 and insideEMA THEN
//IF  MFIfilter>0 and RSIfilter>0 and insideEMA THEN
BUY 1 CONTRACT AT MARKET
ENDIF
 
IF NOT SHORTONMARKET  and bearish  and MFIfilter<0 and RSIfilter<0 and mm7<mm20 and insideEMA THEN
SELLSHORT 1 CONTRACT AT MARKET
ENDIF
 
SET TARGET $PROFIT 35
SET STOP $LOSS 20

DEFPARAM FLATBefore = 083000

DEFPARAM FLATAfter = 180000

//TIMEFRAME(daily)

bullish = DOPEN(0)<DCLOSE(0)

bearish = DOPEN(0)>DCLOSE(0)

//TIMEFRAME(default)

MFI = MoneyFlowIndex[14]

if MFI>50 then

MFIfilter=1

else

MFIfilter=-1

endif

mRSI = RSI[8](close)

avg = average[8](mRSI)

if avg>50 then

RSIfilter=1

else

RSIfilter=-1

endif

mm7 = exponentialaverage[7](close)

mm20 = exponentialaverage[20](close)

insideEMA = (low<mm7 and high>mm20) or (low>mm7 and high<mm20)

//LONG conditions

IF bullish and MFIfilter>0 and RSIfilter>0 and mm7>mm20 and insideEMA THEN

//IF MFIfilter>0 and RSIfilter>0 and insideEMA THEN

BUY 1 CONTRACT AT MARKET

ENDIF

IF NOT SHORTONMARKET and bearish and MFIfilter<0 and RSIfilter<0 and mm7<mm20 and insideEMA THEN

SELLSHORT 1 CONTRACT AT MARKET

ENDIF

SET TARGET $PROFIT 35

SET STOP $LOSS 20

JR1976

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06/02/2016 at 3:41 PM #8653

Nicolas

I think that is the MFI (Money Flow Index) indicator that cause trouble because it needs volumes for its own calculation. So if the instrument don’t have any volumes information, the value is constantly under 50, so MFI filter is always equal to -1, that’s why you only have short positions.

FYI, this strategy is intended to be manually traded because of trendline break, drawn manually when a “inside EMA” is spotted on chart.

Nicolas

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06/26/2017 at 9:09 AM #39039

lagjan

Hello,,can you help me to install the indicator correct like in the image,,dont get the same rezult,, only indicator no themplate

lagjan

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06/26/2017 at 9:13 AM #39041

Nicolas

@lagjan

Just import the files into your platform and add them on chart. All indicators that display on price, please use the ‘add on price’ button, the wrench of the upper left side of the price chart.

How to import/export files in prorealtime.

Nicolas

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09/13/2017 at 8:30 AM #46085

Toto le Heros

Hi Nicolas,

Thanks for this. Very interresting.

I encounter the following problem : on all my forex pairs, MFI filter stays at -1 …. No problem on DAX, CAC, DOW, NASDAQ…

Any idea ?

Thanks in advance

Toto le Heros

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09/13/2017 at 9:01 AM #46092

Nicolas

MFI is dealing with Volumes and forex pairs have no Volumes with your broker apparently.

Nicolas

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09/13/2017 at 10:35 AM #46103

juanj

@Nicolas, I just realised that this is very close to what I was trying to do in my diagonal trend breakout strategy that I coded.

Well at least as far as rules 6, 7 and 8 goes.

If we can add rules 1 to 5 to my strategy we have essentially automated this. Thoughts on this?

juanj

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09/13/2017 at 4:05 PM #46152

Nicolas

Rules 1 to 5 are very easy to code / automate. If you think you can separate your trendlines code as a reusable function, it could be implemented in a lot of strategy. This manual trading system has a common sense of playing trend rebound, identified/validated with trendlines violation. Believe me or not, but this kind of trading is the most efficient and ‘pure’ ones I met in many different trading approach mates of mine or customers talked me about. No matter how the process of entering the market takes place, it is always more or less the same thing: rebound in trend.

Nicolas

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09/14/2017 at 7:59 AM #46189

juanj

FYI, I managed to add rules 1 to 5 to my trendline break strategy but the results are not good, it literally halves the profits from the existing strategy. I coded it as follow and used the long/short criteria to determine when to allow setting my stop orders upon breakout of the trendline (as volume is not always available I ended up exprementing with replacing the MFI with ADX):

If close > DOpen(0) and MoneyFlowIndex[14] > 50 and average[8](RSI[8](close)) > 50 and Average[7,2](close) > Average[20,2](close) and close < Average[7,2](close) Then
long = 1
short = 0
ElsIf close < DOpen(0) and MoneyFlowIndex[14] < 50 and average[8](RSI[8](close)) < 50 and Average[7,2](close) < Average[20,2](close) and close > Average[7,2](close) Then
short = 1
long = 0
EndIf

juanj

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