After you copy and paste the code in the new indicator template, you need to change these and hit compile.
O, and another thing, Open the Main file while in Metatrader, by right clickin the indicator and hitting modify. That why, it will have a direct load into your indicator folder for your MT4…
thank you mate, I got the lines fixed 
The lines are in usdjpy 1 min, and eurusd 5 min chart
now what is my entry signal and take profit signal?
I understood it must be in the trend of the day and have 3 rows same colour, right?
But how much it must be the move in UJ. Sometimes I see 3 row same colour but it isnt a strong move.
Then I see some window in your pic called CHM 528: is that an other indicator?
I don’t like trading on short terms. I like to trade on higher time frames it gives me the flexibility to relax and can stay away from charts as well. I don’t like to remain glued to charts to look for entries on smaller time frames.
If your scalping, the main reason is to get the pips, and be done for the day…
You dont scalp using 2% of your margin, your most likely going to use 50% or more per trade, which reduces the number of pips one might need to hit daily goals…
Using this system above, around 55 pips were available since 5:30 est…
I got 17 pips, for 11 total minutes over 4 trades. Hit 5.4% daily gain, and Im done for the day…
I invested little the 10 minutes total chart time this morning…
Hey Bern, Make sure when you add to the UJ chart, that you reverse the colors… So reds will be green, and greens will be red.
The CHM is the Currency Heat map…
I also have Macd Alert, Just eye candy to get current directions aggressiveness i guess… Just something I like to have up…
Top Left is a EU 1 Hr chart, again, just something I like to have visually in front of me.
The box is another indicator, that I use to draw my breakout box for :05-:10 every hour, but like I said, it dont refresh, so you have to manually refresh every hour, ( :10 after the hour)
The blue you see, is just a box i draw to highlight my zone.
Hi again
is it important to see the Currency Heat map? As we deal only with 2 currencies?
I fixed the boxes in MT4 on a second old screen. Then I have on my laptop the MT5 were I can buy/sell.
The boxes I set to left side so 1,5.15min is reverced on the right. The red of UJ doesnt desturb me. 7 lines with 1.2.3.4.5.7.9 MA
How short do you set the stop loss? I see you use almost about 90% margin, so you must be really sure about the direction. I still follow a lot of false signals. So I need to learn to better analyse.
Hey Bud,
Yeah, I think the HeatMap is very important…
By seeing the whole picture, i believe it reduces risk…
Stops are 15 pips, and all trades are trail stopped for 1.5 pips… These plays are breakouts, so a breakout can run fast, with a trailstop, maybe 3 out of 10 are big wins, and the rest might pull 1-5 pips… never know…
I would also get ride of the cci, rsi, and stoch
thanks again,
can you give me a hint were to find the download of this HeatMap?
Then im a little confuse about the measure of pips. The minimum i have in MT4 and 5 for trailing stop is 20 pip and the spread is 8 to 15 pip (are those “mini”-pip?) or is your 1,5 pip with me 15 pip?
I just got a run, buy 1,32042 sell 1,32186 and it say it was 174 pip. (does that mean to you 17 pip?)
Yes, 17 pips
You can get the heat map from Currency heat map
Then, what I do is when you have the heat map all loaded up on your MT4, and ready to go, Drag to chart, and when the setting box pops up, change the H1 to M5 to get the 5M and the Daily…
thanks again
I got that fixed too (just have problems with the solution of the old screen) and registered to get the download.
You showed the first line (5min) all green, does not have to be usd/jpy be red? (or contrary)
And need to be ALL dayly first line to be green? (or contrary)
Looks good,
The heatmap JPY must also be red, because its still JPY/USD Down…
So, when U/J goes up, EU goes down, because USD shows its teeth…
Now, you see CAD is still green, but thats because CAD is gaining regardless of anything…
GBP seems to be the first to show a direction change, so keep an eye on that, and make your own assumptions, its just something i have been noticing…
Something else I might implement, is using the 1H MA meter color instead of the Daily heatmap…
Im trying to change the timeframe from daily to 1H but not having any luck…
What is your plan of use for this set-up?
Short term trading is best for new traders and low investors who had a liitle amount as capital. They can get daily some profit as market is in their favor. Analysis is mustfor long or short term trading to get right trend . It will make a profitable trading with safety of capital.
this is also my feeling. Im new and I cant overlook trades more then a day. Most losses I made in beginning was because of longer trades. From the last 10 days or so I see all the market makes up and down like ping pong. I cant see any trend for long time like a good trend for 3+ month witch would give me a confidence to hold and wait its come back. But why I wona hold, hold means loss well you dont have it in your balance instantly but you have it in your equity.
and MoneyNVR thanks for all your info. Ill back in monday to test the strategy :53:
The risk is about the same. Short term traders want their earnings early or as income, while a long term trader can wait a while for a bigger pay out. Long term is more risky because anything can go wrong if you wait and there is a market crash. However, long term traders usually use dividends which requires one to have the stock for some time to be paid the dividends. This is also risky since the dividends may not cover the drop in price of the stock. Short term risk are the stock goes down and the trader lost money. Unlike a long term trader, the lost is immediately realized since the shares are sold at a lost. But a short term trader will find another stock to try and make up the lost with.
Hi again
I didnt had much time today and some little trade wasnt so much successfully. anyway
I like to understand what is important about times. Are your hours in GMT? You located England?
S/R means what, support and resistant levels?
Majority of traders are very attractive to short term strategies, they want quick profit and the tendency for short term trading is very huge.
I see u use ichimoku, I also use it for demo trading.If you have any question how to trade with ichimoku feel free to ask me,i’ve read 4 books about it and been testing the indicator for quite a time.
First advice: Ichimoku mostly work on pairs that have JPY in them ,so AUD/USD might not be that suitable
Second advice: It mostly works on medium or long term trading,not intraday,and hell not on 5 min chart :56:
Third advice: Why would you short the pair now when the kumo cloud is so thick below? Instead,the future cloud would indicate future weakening so you should wait for a more powerful confirmation.
Fourth advice: The system works only in trending markets,now your market is in uptrend but the lastest period was more like in ranging,this might disrupt the kijun sen (so you might wanna plot the indicator on a much higher timeframe!!)
Fifth advice: I can’t see your settings but ichimoku works mostly with default settings since everyone uses that
Thank you for your advice, it is very much appreciated. I am still looking around for a nice system.
Short term trading is really effective when you control your risks in every trade. In inter day or scalping system you need to make small stop loss and for this reason you can increase your lots by adjusting your volume size and can gain more profit.
