BitcoinEducation
HOW-TO: Use multi time frame Analysis with the MTP Scripts
In this How-To video, we take a look at how to use a Multi time frame approach when using the MTPredictor Script. As an example we take a look at a recent Chart of BTCUSD on 15min / 1hr Charts
As you will see from the video, the idea is that we look to only trade on the "Shorter time frame", when we get a clear picture, using reversals at our MTPredictor Decision Point DP) levels on the higher time frame charts. At other times, we deem that the market is in a Random picture and as such the picture is not clear, therefore no Analysis should be attempted.
Remember, MTPredictor is not a "Black Box" system, where all signals should be taken, we only suggest considering trade setups, when there is a clear picture on the Higher time frame charts, as shown in this example.
Please also remember, that no matter how clear the picture may seem, losses can and always will unfold when trading, that is why Stops are vital. Please keep your losses small, and then look to run your Profits. The aim is, over time, to have Profits that are larger than the losses, which does not mean a high % of winners, just that the winners are larger than the losses over time. Size does really matter in this case.
Lastly, please note: this is not a trade recommendation, you should all perform your own Analysis. Losses can and will unfold when Trading, please always use Stops and keep your losses small.
As you will see from the video, the idea is that we look to only trade on the "Shorter time frame", when we get a clear picture, using reversals at our MTPredictor Decision Point DP) levels on the higher time frame charts. At other times, we deem that the market is in a Random picture and as such the picture is not clear, therefore no Analysis should be attempted.
Remember, MTPredictor is not a "Black Box" system, where all signals should be taken, we only suggest considering trade setups, when there is a clear picture on the Higher time frame charts, as shown in this example.
Please also remember, that no matter how clear the picture may seem, losses can and always will unfold when trading, that is why Stops are vital. Please keep your losses small, and then look to run your Profits. The aim is, over time, to have Profits that are larger than the losses, which does not mean a high % of winners, just that the winners are larger than the losses over time. Size does really matter in this case.
Lastly, please note: this is not a trade recommendation, you should all perform your own Analysis. Losses can and will unfold when Trading, please always use Stops and keep your losses small.
MTPredictor Professional Trading Software: mtpredictor.com
Trading View Scripts: mtpredictor.com/tradingview
Help Videos: mtpredictor.com/tradingviewhelp/
Trading View Scripts: mtpredictor.com/tradingview
Help Videos: mtpredictor.com/tradingviewhelp/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.