(NOTE: This post is not entirely complete yet and the system is still in testing)
These trades have worked very well as an overnight trade to set and forget with forex.
Chart Setup: Diagnostic bars 12 tick (50% open and 100% reversal).
_Triple Crown black (black background) or
_Triple Crown grey (grey background)
Note: The Izones are set to 60 minutes which is different than the bar primary bar size so that a comparison can be made without having to have a second chart up of a different bar size for these longer term trades. This may appear different than you are used to seeing in a typical chart you have seen before.
Chart indicators on the template explained:
PLACING STOPS: The initial stop for the big trends is 40 pips as noted in the ATM strategy below. For a smaller account another option is a 20-pip stop.
PROFIT TARGET: These trades are trends intended to be trailed. The MVP blue triangles can be used as a trend guide as well as the ATM strategy shown below.
ATM STRATEGY: A trailing ATM strategy is a must when putting on a trade when leaving it on overnight. Here are the settings commonly used for these sleeper trades:
Using the settings as above requires at least 2 contracts to scale out.
For Forex, you would need at least 2 Micro Contracts (0.02 or 2,000) depending on your broker
Contracts will be evenly split..
Target 1: When it reaches 20 pips exit half the contract.
Target 2: Leaving half the contracts to ride the trend.
Once it reaches plus 65 pips, stop will be moved to entry + 10 pips
Once it hits 70 pips trailing stop moves to 40 pips behind.
Step Frequency: For every 20 pip gain, stop move to 40 pips behind.
This is done to ride the daily price swings
In the example above where profit trigger is 70 pips, this is based on a specific pairs daily average movement.
If the pair you are trading only has a 50 pip average move. A good take profit value is 50% or above.
For a more detailed explanation, please watch the two training videos below on how to set up an ATM trailing strategy:
Part 1 click here
Part 2 click here
When ALL colors line up the same color on the analyzer, then look at the chart. If the bars are not heading into an opposing Institutional zone (Izone) or the price action is not close to the 1.5 or -1.5 deviation levels, the entry when the MVP arrow occurs. Take a trade at the market price.
Buy if all is green when the green MVP arrow appears.
Sell if all is red when the red MVP arrow appears.
Trade ONLY in the direction of the 132 Trend Flip. If there is an opposing I-Zone, do not enter until it has broken that I-Zone. The Trend Catcher confirm (the clear arrows) are there to serve as a heads up, get ready , a trade setup might be coming.
There is another indicator in the template called expected time. This indicator will estimate the length of time it will take to reach your intended target if the market continues to move as it is. It is a handy tool for slightly more advanced users.
1. Q: What is the difference between a trend entry and a scalp entry on the Triple Crown?
1. A: The main difference in taking a trend trade with Triple Crown versus a scalp trade is with a scalp the 132 Trend Flip matching is optional. The conservative method is to match the 132 Trend Flip. To get more trades, going against the 132 is an option. The other difference is the initial stop loss and how it is trailed.
2. Q: What purpose does the Trend Catcher arrow serve?
2. A: It serves as a early alert. There are verbal alerts that can be turned on with this indicator to hear when a possible entry is near so you can be ready quickly when the MVP arrow appears. This alert is not turned on in the template by default,
3. Q: Why is there indicator at the bottom of the template that does not seem to be used?
3. A. Deviation Indicator. This shows how far the market has moved in relation to its expected move for the day.
To learn more about any of the indicators, click here for training or click here and scroll down to theS6 - Study- Apex Indicator section of the forum.