Triple Screen Time Frame Analysis Strategy
I am still trying to perfect my day trading strategy and am making this post for me to better understand all the moving parts of what it is I am trying to accomplish.
I will use three time frames
Weekly (Major Trend Direction)
4 Hour (Structure/Key Levels)
15 Minute (Lower Time Frame Entry)
On the weekly time frame, I will mark January 1st 2024 to December 31st 2024 for the entire trading year.
I will then mark the price the year opened at with a teal line. This is the open of the 12 month candle.
I will then open up the ATR indicator to gauge the average weekly movements using the 14 period
I then switch to the 1 period to see each individual weekly range. I can see that the 1 period ATR on average is roughly 1,400 ticks from high to low. Seeing how the 14 period's average is roughly 1,200 as well, I can say on average a given week should have roughly 1,200-1,400 ticks of movement from high to low.
The weekly trend is bullish and trending higher in a spike and channel.
Out of the last 31 weekly candles since the start of the move up, only 11 candles were of any bearishness. That is only 35% of all selected candles. The other 20 were bullish or a whopping 65%.
The 4 hour time frame is for the structure and key levels. Over the course of this year there has been ample buy opportunities followed by selling spikes into the uptrend.
A massive "W" is forming
On the 15 minute, if I can align myself with the bigger move and limit myself to one trade a day, if it presents itself, with my 3:1 ratio, then my win% shall increase.
I don't care how much further price went without me, as long as I hit my 3R target, that is all I care about.
My personal goal is a 40% win rate with my 3R system.
I will use three time frames
Weekly (Major Trend Direction)
4 Hour (Structure/Key Levels)
15 Minute (Lower Time Frame Entry)
On the weekly time frame, I will mark January 1st 2024 to December 31st 2024 for the entire trading year.
I will then mark the price the year opened at with a teal line. This is the open of the 12 month candle.
I will then open up the ATR indicator to gauge the average weekly movements using the 14 period
I then switch to the 1 period to see each individual weekly range. I can see that the 1 period ATR on average is roughly 1,400 ticks from high to low. Seeing how the 14 period's average is roughly 1,200 as well, I can say on average a given week should have roughly 1,200-1,400 ticks of movement from high to low.
The weekly trend is bullish and trending higher in a spike and channel.
Out of the last 31 weekly candles since the start of the move up, only 11 candles were of any bearishness. That is only 35% of all selected candles. The other 20 were bullish or a whopping 65%.
The 4 hour time frame is for the structure and key levels. Over the course of this year there has been ample buy opportunities followed by selling spikes into the uptrend.
A massive "W" is forming
On the 15 minute, if I can align myself with the bigger move and limit myself to one trade a day, if it presents itself, with my 3:1 ratio, then my win% shall increase.
I don't care how much further price went without me, as long as I hit my 3R target, that is all I care about.
My personal goal is a 40% win rate with my 3R system.
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