Yep I’m flat as a pancake today :58:
Shaunnd can you tell me the name of that indi. please. I’ve got loads of these but the nearest I get to your one compares candles with the line graph, ie. not as good. I’d like a dedicated SMT chart in my MT4, atm I use Netdania and it’s OK but.
Hi Jaroon
Google ‘OverLayChart’ or ‘OverLayChart-MA’…they both allow use of line graphs,the latter shows the ‘indicator’ price in addition.
My post is with regards to the trade I took on Friday??
Jaroon, as dess has mentioned above “OverLayChart-MA”
I like this post. Looks like this September is somehow magic 
10 years after 9/11 (btw. I was there in DC when this **** happened and it was unbelievable). ICT said he is going to finish his course in September and start the 10^6 Challenge. Some people here go live or fulltime in September, interesting. Im starting my 5th year of FX trading in September and will trade some serious money for other people as well from the next month onwards, so it is also big step for me. I can tell you that it is a big pressure to go public and publish your results…
I don’t mean that others can see your results, frankly no one cares, but it is big pressure on ones ego. Na, I really wish u and your son good luck and cross my fingers.
EDIT: and btw., the smt candlestick indi is here: OverLay Chart - MQL4 Code Base
Hi Ali,
Your post are always very helpful clearing some confusion Regarding this post, I can see the divergence but how we should use it?
How to know which pair will go up or down?
Thank you and GLGT
I’m currently using “OverLayChart” but I can only get the overlay to be in Candlesticks, do you know how to make the overlay into a line chart? It’d be much appreciated.
Regards,
Clark
Use the “overlaychart-ma”…i think that works better. in the input section where it says show candles just click false.
Hi Clark, Dont think the “overlaychart” lets you change the candlesticks to line chart, But if you have the “overlaychart-ma” then it does let you change it if you go into edit then click on inputs tab and where it says “showcandles” just change that to false and it will get you the line chart.
Does anyone know if there is any difference between the “overlaychart” and the “overlaychart-ma”?
Here’s an Overlay-MA version that puts it in a seperate window, you have to change the GridColor = None.
Also the original OverLay-MA is in the zip file.
OverLay-MA-Window.zip (18.7 KB)
Wally
Awesome thanks guys. 
Hi FX280, I’m glad you find my comments helpful.
In the case of the chart I posted, an area of support was already identified - that being an OTE zone on the Daily Cable chart. I could also see that there was support in the form of a Weekly low on the Fiber H1 chart, so this was going to be an area to watch. Now ICT has actually demonstrated this tool in a live New York Open session, and on that occasion Cable and Fiber were moving up to resistance areas, and Fiber hit its resistance first and started to make lower highs before Cable did. That is a no-brainer SMT divergence IMHO - you have a lag and you can catch the Cable head-on.
In the case of Friday, they both started coming up at the same time, and there was no real pull-back to step in on. Normally you would see them diverge, Cable would come up from that divergence, and you would then look for an OTE entry to go long. As it was, there are two ways of doing it:
Get in on the Cable trade at key support without SMT having been formed (but anticipating its formation by comparing support levels on both pairs.)
Wait for the low to be put in and then jump on board 10 minutes and 20 pips late. This is not ideal…ideal would be entry on a pull-back…but ICT says these divergences on H1 charts usually show the start of 100 pip moves, and who cares if you don’t catch the whole move! My interpretation of his comments might be wrong, but I’ll quote them here so that you can make your own judgement:
[B]If you have tools that can put major swings like these in your crosshairs, you will have no difficulty waiting for the setups to pan out and 20 pips in a 100 pip swing is gravey and imagine if you locked in the twenty pips and let it ride the daily range! Your Wealth Plan would be that much further along with winners greater than 20 pips per week, right?[/B]
I think he is saying you should be able to get at least 20 pips out of the move, and as he has always said, ‘20 pips a week is enough to build a fortune!’
Regards
…and with regard to not being in the market yesterday, the technicals did actually line up on this occasion (not that it should encourage you to get out there next time!)
There was resistance turned support at 1.4480 on the H4 FIBER, this also happened to be the MONTHLY MR1 (yes I do use these!), it was New York open kill zone and there was this…
…so that is how you flip it around and use SMT for Fiber trades aswell.
Regards
P.S. Oh, I forgot to mention that 1.4480 was 79% OTE from the Asian session low to London Open high!
Are you full time Manta? For some reason I thought you were a happy part-timer. This September is going to be interesting. For those that are going full time… what makes you decide to do it? I feel like, as aekameal pointed out, working full time and balancing fx education/trading is super tough. It would be sweet if ICT could tell us how/when he decided that this trading gander was going to work… i think he mentioned trading in his uncles basement at some point early on(before profitability?). I always thought that if i could make ten percent a month consistently i would fund an account and do the full time gig. I know that’s a small percentage but i gatta keep my goals within reason or ill burn out. I was also thinking of taking a break from the day job just so i could focus fx… I’m young and it would be doable although still tough. Anyway, sorry for the rabbit trail post. Keep up the work everybody.
GLGT
I have also other businesses next to trading. And I think it was good decision not to focus only on trading, but keep my regular job. OK, it is not a job like that you are an employee somewhere, you have stupid boss and hate to get up every morning and go to office or factory. I’m owner or partner in several companies, so I can do almost whatever I want and no one cares. I dont have to manage people on daily basis, be in some office at 9 am every morning etc. So I take those businesses more like a kind of investment, the same with FX. Another advantage is that one of those companies is an IT firm, so we have quite good technology (very good servers, technicians, etc.,) and of course I can use these resources for free and as much as I want. During last year Im playing more and more with automated and semi-automated trading, so this professional technology background is a great help.
lol, If I knew before that it takes so long time and so much really hard work and energy to become profitable in FX trading, most probably I would never start and did rather something else. But I think it is always like this, if you start from scratch and have no clue WTF you are doing, then you need much more time.
Thats why I really appreciate Michael’s effort to teach people and share his trading tools, because it can save huge amount of time, although I don’t use all his techniques and dont trade exactly the same methods. Rather I take this and that, change a bit this tool and that tool to be more comfortable with it and then use it in my trading decisions or strategies. Thats just my way of thinking, I do everything like this, I dont blindly follow some rules, but rather use my own common sense. But Im sure and understand that what is good for me is not good for someone else. Other people are more comfortable if they have exact step-by-step recipe how to trade. Micheal’s lessons are really good, I think everybody can find his own style if you go through these videos and materials.
… if I give some examples:
ADR - I like this very much, cool concept and tool
Pivots & TT - again my favourite (but I use only TT and central pivots, I dont use R1/S1, MR1/MS1, R2/S2 etc. at all)
Kill Zones - time of the day, also my favourite tool, but again, I dont trade London Close strategy, but use it as exit point very often in intraday trading.
OTE - I like it, but dont use it at all, I use something very similar, candlestick patterns for entry trigger and supply/demand areas, but it is basically the same.
Fibo extensions - I dont use 1.27 ext. or very rarely, but like very much 200% extension idea for targets, S/R levels inside 1.618 - 2.0 extensions are also my favourite.
SMT - it is very cool as additional tool for trading decisions, I dont use it very often, but I like very much SMT divergence to support my swing and longer term trades.
Market Flow - I almost dont use this tool, sometimes I look at it if Im not sure about situation. I found only one good thing in this tool and thats the point where market flow changed its direction.
I dont use fundamentals and COT at all. In my case it always leads to analysis paralysis. Of course I use economic calendars and understand what the reports say, but Im not able to trade succesfully based on fundamentals.
EDIT: I use fundamentals in one special case…If media (TV, newspapers, etc.) and people who has nothing to do with trading start to talk too much about financial markets and panic, it is always good time to look for some trade in exact opposite direction, than what others do.
Do you know this old joke? 
ICT told us (during chat once) that he was working at Dominoes Pizza and trading the S&P500 when he struck gold with his techniques. His wife just thought he was lucky when he told her that he had made his first 100K, but he soon proved that there was no luck involved! He did study computer science at Uni, but the programs he studied were obsolete by the time he came to graduate, hence the pizza and trading option If you are young and don’t have any commitments in terms of family etc, and you think you have a good idea of how to turn a profit out there, I’d say go for it! Take any crappy job that fits around your trading schedule, and give it two years. Two years is absolutely nothing to someone still in their twenties!
Regards
hi all
i have been somewhat scalper of levels and whatever similar lately…
i had been in this trade long //eu 5min// and than i just pulled out fib and ote with exit levels smiled at me…
//i hope it is all to the ict’s ote standard//
there many ways how to skin a cat, or what glasses we use to c things,
thx ict and all contributors here
price has just dropped,been out a bit before,no hard feelings
Took the same OTE today! +44 pips
[U][/U][B]Smart Money Tool[/B]
I noticed that some of you have difficulties interpreting the SMT. It is quite simple. If one pair is making lower lows but the other is failing to make lower lows…look for higher prices (in both pairs). What happens is that the pair that is not making lower lows is accumulating (more buyers are entering the market). The reverse for distribution: if one is making higher highs but the other is failing to make higher highs look for lower prices (on both pairs).Th one that fails to make higher highs is under distribution (more sellers are entering the market). Of course you shouldn’t trade on this indication alone, look for strong support/resistance levels where the divergence is acknowledged. Larry Williams also explains this in his book: The [U]secret of selecting stocks for immediate and substantial gains[/U]
TP
great that you posted that pic, that will save some work for me This SMT divergence with euro failing to trade higher jumped in my face yesterday evening, bias for today: short it till ADR and it went great today! This tool is one of the most reliable in my oppinion. If you get it and understand how to use it, it’s really powerful 
greetings
