Thanks for ya reply.
I have some few questions…
I’m using Samsung android MT4., can I be able to trade this set up?
The cap channel, is it same thing as envelope?
And the exit setup, can you explain better.
I’m new to this.
Kasie,
On Android mt4 you won’t have the Cap channel or volume indicator, but you can trade using the EMA channel cross.
Just enter on the cross signals and use support and resistance as guides for exits.
I also recommend adding the MACD at 5,16,9 settings for M5 charts. 5,12,9 for higher timeframes. Enter when the histogram changes from bottom to top or top to bottom of zero line.
Whats the best time frame for this set up.
Not so special strategy as i tested, yeah it works but sometimes, its only good for playing in demo and no way to go live with that.
I’m live with it.
Sorry it’s not what you were looking for. Good luck finding what suits you better
I’m going to offer a suggestion here. This strategy, and so many others are what I call active trading. They require you to watch the chart and to make decisions and when to enter, when to close, where to put your stop loss, and when to give up.
Because of this, you cannot run it through an automated back testing system. The system cannot back test you.
All you want from any system is just to know when and where is a good entry. No system tells you when is the best time to close a trade.
But if you have a good entry signal, all the power is in your hands. You don’t have to let it run. You can just take one good candle and close in whatever profit that gives you. The more profit you want, the longer the time frame you choose to trade in.
If you trade four or five pairs, you know on the M5 you’re going to get 10 or more entry signals everyday. When your account is a sufficient size so that you enter on several of these signals something close to a full lot size - you could easily make about $100 per entry. In my experience, if you are trading on the hourly or higher time frame, active trading may not be possible so you are much more likely to close after the first good one hour candle of profit. Because of that your profit for the day on each trade is likely to be $100 to $200. You also have to keep in mind that there is generally high impact economic news everyday. Most often that news is at 8:30 a.m. eastern standard Time US, New York time. So if you are trading before that time you have to give your trade enough time so that you close it in profit before that news breaks. Otherwise you wait until after the news breaks and begin trading.
Bottom line, you get an entry signal. You know the buyers or sellers volume is in your favor because price just broke over a moving average. So you enter and you watch the price tick on the right side of the chart or using the ticker on your phone.
You will know you have mastered trading when you have reached the point when you know you are trading with the daily trend even though you’re on a smaller time frame and you have set your stop loss well below the nearest support or resistance zone.
The market could Spike against you and take out thousands of other traders, but your stop loss wasn’t even close to getting hit.
Because you are the winner, not the loser.
4 Likes
52-5 for June.
Remaining open trades are just my E/J long that may take another few trading days to hit TP. Should get 30-40 pips.
A couple of pending orders set as well, but may not be activated for several days.
I don’t have the patience to not trade for more than 1 day in a row, I may go for a personal record if I don’t trade again until Monday. 
Above 159. Wow.
1 Like
Is that better than using the CAP channel and EMAs?
In my opinion, its all the same. Just different indicators to show the same things but in different ways.
The Cap Channel and Emas allow for more personalization. That’s why I thought the Supertrend and VWAP might appeal to newer traders. But I don’t think one is better than the other.
1 Like
Here it is, still playing out. MACD seems to indicate it could be time to close the short trade if we entered on the Supertrend down trend signal (I would not have entered on that signal at this time of day and the candles still being over the VWAP).
Thanks! These indicators look neat! I’ll check them out. I’ve found the Super Trend and I’m trying to find a working version of the VWAP with just the one line. What lines do you have crossing on the MACD at the bottom?
Hi Birwi12,
The Orange line is simply the MACD signal line set at 9.
The Green is an EMA set to 2 “previous indicator data”.
I’m not set on using 2 for the green. Some of my charts have it set to 3 or 4 or even 5.
Oh cool, I’ll see if these have copies on TV.
On the envelopes, do you change settings based on your timeframe, or do you just look at them at higher timeframes and them come down into lower timeframes to trade? I’m still trying to figure out the best way to use them, plus find one with a mid line I can reference.
Hi Samewise.
I’ve been playing with emas and I think I have a good option for Tradingview.
The setup I like is a 30ema but with a high and a low level added. To be honest, I did not know about this option on the moving average settings until a few days ago.
So you choose a 30 EMA set to “close”. Add a level set to 1400 add another level set to minus 1400.
See what you think because I am killing it with these settings on the Cap.
For whatever reason, it doesn’t seem to work on my phone and I have had to use envelopes which does require that I change the settings for different time frames. Lately I just leave my phone charts on the D1 with envelopes set to 30 and then I have to add the 30 EMA to make the center line.