Martin Trend Line candles & Colour change Alerts Strategy
Martin Trend Line Candles & Colour Change Alerts Strategy (MTLCC)
Hello fellow Martin Traders, this is how I use the MTLCC and as you can see and I think you will agree it works really well,
I like to use it on GBPJPY as this pair tends to trend well, have a look and do some back testing on any pair, I think you will like the results you find.
Short Entry Point 1 Rules
- Candles turn Red
- You receive alert
- Enter Trade
- Place stop loss at Trendline
Exit for Entry 1
- This trade stays open until Colour change
Short Entry Point 2
- Confirm Candles are still Red
- Stochastic lines are at the Top curling Down (Above 50%) with Red Background
- Trend Meter has minimum 2 Red Bars
- Enter Trade
- Place stop loss at Trendline
Exit for Entry 2
- Stochastic is at the Bottom and starts to curl Up or Candles change colour
ONCE IN A TRADE - MANAGE SL
- Every 4 hours move SL to the Trendline (this where the candles will change colour when the price hits)
You don’t have to enter 2 trades; you can just enter from colour change to colour change
Get these 3 indicators for the Martin Trendline Candles & Colour Change Alerts Strategy
Trend Line Candles and Colour Change Alerts
Martin Stochastic Trend
Martin Trend Meter
keep an eye out for the Long trade example coming soon
Hello fellow Martin Traders, this is how I use the MTLCC and as you can see and I think you will agree it works really well,
I like to use it on GBPJPY as this pair tends to trend well, have a look and do some back testing on any pair, I think you will like the results you find.
Short Entry Point 1 Rules
- Candles turn Red
- You receive alert
- Enter Trade
- Place stop loss at Trendline
Exit for Entry 1
- This trade stays open until Colour change
Short Entry Point 2
- Confirm Candles are still Red
- Stochastic lines are at the Top curling Down (Above 50%) with Red Background
- Trend Meter has minimum 2 Red Bars
- Enter Trade
- Place stop loss at Trendline
Exit for Entry 2
- Stochastic is at the Bottom and starts to curl Up or Candles change colour
ONCE IN A TRADE - MANAGE SL
- Every 4 hours move SL to the Trendline (this where the candles will change colour when the price hits)
You don’t have to enter 2 trades; you can just enter from colour change to colour change
Get these 3 indicators for the Martin Trendline Candles & Colour Change Alerts Strategy
Trend Line Candles and Colour Change Alerts
Martin Stochastic Trend
Martin Trend Meter
keep an eye out for the Long trade example coming soon
I have been trading this for a couple of weeks now and I have had a few losses during ranging periods, I have analysed the losses and added 2 conditions to reduce the losing trades.
When you receive the alert for the colour change:
1. Ensure the STOCHASTIC LINES are heading the direction of trade, Below the Top line but above 50% line (Back Ground colour doesn't matter but perfect if same colour).
2. Ensure the TREND METER has at least 2 Red bars (if 3 then the lines can be just over the 50% but not near the bottom line).
Wait for the 1st candle to close to confirm these conditions.
Happy trading