TMT Scalping system

Nicolas · Thu, 26 May 2016 13:41:28 +0000

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.

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

Viewing 4 posts - 16 through 19 (of 19 total)

← 1 2

06/16/2021 at 9:42 PM #171908

raviesco

Hello,

Does anyone have an updated version of those indicators for the latest version of PRT?

Thanks

raviesco

Participant

Topics: 1

Replies: 3

Been thanked: 0 times

06/17/2021 at 7:58 AM #171911

Nicolas

Please describe what is TMT indicators, and provide screenshots.

Nicolas

Keymaster

Topics: 81

Replies: 20863

Been thanked: 4773 times

06/17/2021 at 12:20 PM #171925

raviesco

Hi Nicolas,

Thanks for your answer.

Basically I would like to have one indicator combining all buy or sell conditions:

It should be green when

1. Daily candle is Green
2. RSI Filter is Blue
3. MFI Meter is Green
4. Uptrend (7 EMA is above 20 EMA)

And red when:

1. Daily candle is Red
2. RSI Filter is Pink
3. MFI Meter is Red
4. Downtrend(7 EMA is below 20 EMA)

Ang grey if not all conditions are met.

Does it answer your question?

Thanks

raviesco

Participant

Topics: 1

Replies: 3

Been thanked: 0 times

06/17/2021 at 1:04 PM #171932

Nicolas

The indicator below will draw green or red histograms depending on the conditions you have requested:

irsi = CALL "RSI filtered"
i = MoneyFlowIndex[14]
if i>50 then
imfi=1
else
imfi=-1
endif

b1 = dclose(0)>dopen(0)
b2 = irsi>0
b3 = imfi>0
b4 = average[7,1]>average[20,1]
buyc = b1 and b2 and b3 and b4

s1 = dclose(0)<dopen(0)
s2 = irsi<0
s3 = imfi<0
s4 = average[7,1]<average[20,1]
sellc = s1 and s2 and s3 and s4

return buyc coloured(0,200,0) style(histogram), -sellc coloured(200,0,0) style(histogram)

irsi = CALL "RSI filtered"

i = MoneyFlowIndex[14]

if i>50 then

imfi=1

else

imfi=-1

endif

b1 = dclose(0)>dopen(0)

b2 = irsi>0

b3 = imfi>0

b4 = average[7,1]>average[20,1]

buyc = b1 and b2 and b3 and b4

s1 = dclose(0)<dopen(0)

s2 = irsi<0

s3 = imfi<0

s4 = average[7,1]<average[20,1]

sellc = s1 and s2 and s3 and s4

return buyc coloured(0,200,0) style(histogram), -sellc coloured(200,0,0) style(histogram)

1 user thanked author for this post.

GraHal

Nicolas

Keymaster

Topics: 81

Replies: 20863

Been thanked: 4773 times

Author

Posts

Viewing 4 posts - 16 through 19 (of 19 total)

← 1 2

Find exclusive trading pro-tools on