A simple strategy for low timeframes
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 relatively independently of that surface
By independent candlestick, I mean to see a candlestick that starts to form without contact with the surface and closes in such a way that it does not come into contact with that surface again.
A candle that has no contact with the desired surface either at the beginning or at the endpoint.
We can now expect the price to move with the size of the independent candlestick length.
simply
To better understand, watch the image or ask a question after watching it.
I should mention that i always consider one unit of profit and one and a half units of loss
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 relatively independently of that surface
By independent candlestick, I mean to see a candlestick that starts to form without contact with the surface and closes in such a way that it does not come into contact with that surface again.
A candle that has no contact with the desired surface either at the beginning or at the endpoint.
We can now expect the price to move with the size of the independent candlestick length.
simply
To better understand, watch the image or ask a question after watching it.
I should mention that i always consider one unit of profit and one and a half units of loss