Hello, good morning, I want to introduce a simple strategy to those who trade in low frame time.
For example, I'm on the Dow Jones chart for 5 minutes at a time frame
Take a closer look at this backtest
You must first find support and resistance levels
In the next neighbourhood, be patient until the price hits that level
Now wait for the first candle to form...
5M is too small for most people, however, it provides important signals that bigger time frames does not.
LTCUSD has formed two shoulders yesterday, which are indicated on 5M time frame by "9 Seasons Rainbow Indicator PRO".
These OverBought (Yellow) signals helped me stop manually the long trade in Breakeven.
See the 5m Snapshot in the update underneath if it...