I wasn’t really looking trade today, but I saw things trending nicely…caught this.
Hey guys pretty new but wanted to try a few of these trades out. I did 3 and all of them went wrong =[. Im not sure if i should of set my stop higher and waited longer or not. I also need to look at the pivot levels with mt4, but i wanted to try some trades first.
EDIT: my 2nd trade went two more bars and made +20 but i was already out…
I dont know where to begin…you need MT4 with my template and indicators running, or else I can’t even asses if those are valid entries…those don’t look valid btw.
Also, your stop loss is 10 pips, which tells my right off the bat that you are not following the system correctly, and need to go back and read the first post.
Glad to have you here, but you need to get your **** together. 
Thanks alot for the reply, I loaded up the mt4 and the trade looks like it would of worked had the stop not been hit. or… Is it to oversold already when it passes the extremely oversold line and I should of never taken the trade.
Just use those lines as simple supp/resist. Don’t worry about oversold or anything.
Not sure if you are aware…if you are entering short you need a pull back so the shading turns blue, then you enter when the shading is red again on a 5min candle CLOSE…very specific rules.
LOL barely hit that one huh?
That did a sudden reverse after you sold out.
Good job!
lol, ya…reversed right off .50 whole number…gotta watch that on gj. I closed with 14 pips.
Hi Pete,
I’m very new to the forex market, and I enjoyed reading about your “mad scalper” in the last 2 weeks.
First I want to say [B]Thank you[/B] , for the time you take to share your methods and knowledge !
I use FXCM , but I did open a MT4 demo last week just to try and use your system. The problem is that the red/blue shades do not really go alonge the candles… did you hear about this problem before ?
I uninstalled the MT4 and downloaded your files again, but it didnt help… do you have an idea ?
Thanks
Hey…glad to have you pipon. What you are seeing there is the indicator at its default settings. What you see on my chart are the changes I have made to it.
All you need to do is load the template that you downloaded along with the indicators, and you will have my custom settings automatically.
The file that ends in .tpl is the template. Go to “load template” in your mt4 to load it.
When the template is loaded correctly you will see the s/r levels, ma’s, volumes, and OSMA also …but I have since removed the osma from this system.
opss… that was easy… Thanks !
btw , since you didnt post here for some days, do you stil use it ?
does it also work at days when the market moves alot like the past days? ( at least with my 20 days of treading experience it looks like big moves on E/U and G/U)
Yes I still trade this system, I’m just not trading much untill Jan.
Lately the dollar pairs (eu gu etc.) are very active…but sometimes the yen pairs can be more active, and dollar pairs slow. You will see over time that the market is very dynamic, goes though phases etc.
This system is meant for scalping during trending conditions. The easy way to spot trending conditions is a healthy angle on the 50 ema, with price staying on one side of it for the most part.
Could it be…An up trend on e/u? 
Took half off +20, rest at BE.
is there a way to make the bid line show up? I know it’s where the countdown timer is but I like to see the line.
To remove those lines all I have done is to change their color to None.
Or you can download this version of the same indicator without MAs:
hotfile.com/dl/21846815/563ae54/ytg_DveMashki_ind.mq4.html
Very good this strategy. Thanks Pete.
Hello petefader,
I was wondering what conditions have to be met for the 5 minute bars to actually change colour. I know you have kindly given us the template which does it for us automatically but I would like to know why sometimes a change in shading occurs for one set of circumsnances (like a pull back above the 14 ema line in a down trend and then the following candle closing back below it) and then sometimes for the same set of circumstances it does not change colour. Is there a way you could sum it up in words or are there too many factors given in your programing?
Thanks for you help!
TalonD, do you mean bid price…as in sell price? I’m sure there is a way to select ask or bid in mt4, but I’m not familiar with it, I only look at that on the platform I use to trade…which is not mt4.
Thanks Montap for posting that…I just had a friend remove the lines for me.