(NOTE: This post is not entirely complete yet and the system is still in testing)
SETUP:
Chart Setup: Diagnostic bars 10 or 12 tick (50% open and 100% reversal).
Template:
_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 scalping is 20 pips/ticks.
PROFIT TARGET: These scalps can be trailed to catch the bigger runs while protecting some profit by moving stops up.
For a single contract, one trailing option on a single contract is to move the stop to BE (break even) when the price action hits 20 ticks of profit. Then move the stop up 10 ticks every time the price action moves up 10 ticks. For example, when the price hits 30 ticks of profit, protect 10 ticks.
For two contracts (a double tap) exit the first contract when it hits 10 ticks of profit. Then move the stop up on the second contract to BE (break even) when the second contract hits 20 ticks of profit. For every 10 ticks of profit after that, move the stop up 10 ticks. This allows you to get the scalp, protect profit and also catch the bigger moves! This strategy can be easily set into the ATM strategy in the DOM or the chart trader.
To learn more about setting up an auto trailing ATM strategy on Ninja Trader, , please watch the two training videos below:
Part 1 click here
Part 2 click here
RULES: When the TrendFlip 10, MVP arrows and Elite pattern colors are all the same color on the analyzer, then look at the chart. If the bars are not heading into an opposing Institutional zone (I-Zone) or the price action is not close to the 1.5 or -1.5 deviation levels, you have a valid setup. Enter at the market price.
All green on the analyzer means buy.
All red on the analyzer means sell.
For a scalp it is not necessary to trade only in the direction of the 132 Trend Flip.; however, the trades have a higher percentage of going into profit if they 132 Trend Flip matches. If there is an opposing I-Zone, do not enter until it has broken that I-Zone.
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.
FAQs:
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: What is the 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.