The script is available as an “invite-only” script, as part of the MTPredictor suite of tools on Trading View. There is a risk in Trading and Investing. Each Trader must take responsibility for deciding on whether their own Analysis is clear and fits in with their own (personal and unique) Trading Plan. I think the smallest timeframe they advocate trading is a 15 minute, but ideally it should be a 30minute chart or higher. Notice how the loss on the easier trade was. If you want to use this actually 'day trading' its not the best. In today's MTPredictor Video, we take a look at a TS3 (Wave 3) sell setup that has just unfolded on the 3min ES. Please remember that although MTPredictor has automatic setups, we do not suggest that you just follow these blindly as if it were a black box mechanical system, judgement is needed in filtering the automatic setups, particularly with respect a clear larger degree trend. The openly state expected win rates and reinforce the need to trade higher timeframes (to avoid chop) and the idea of risk:reward. MTPredictor comes in three versions, first a Stand-alone version (MTPredictor 8.1) and then invite-only scripts for TradingView and add-ons for NinjaTrader. Position Sizing is included in the Analysis as well. MTPredictor is a unique set of Tools (both automatic and manual) that are designed to help you, The Trader, find trading opportunities with the aim of controlling your trading risk. Targets for the setups are automatically shown for each setup as part of the Trade Analysis. Please see the MTP Analysis Script for more information. Please note, these are only relevant at (or up to 5 bars after) the potential trade setup. The triggers are Blue for a potential Buy, Red for a potential Sell, and Grey for Neutral. For more detail of the MTP DP level, please visit the publication of the MTP Decision Point (DP) script.Įntry triggers triggers are provided by our MTP coloured reversal bars that are part of our MTP Analysis Script. This is usually where the “professional money” enters the market to produce a sharp swing in the opposite direction. Whereas, the VS ( Volume Spike) setup is designed to identify high volume spikes, with the aim of finding “fake-outs” at levels of DP support/resistance. The Wave (3) swing is usually the strongest and longest swing in a completed 5 wave sequence. The TS1(W3), TS3(W3), TS4(W3) trade setups are designed to catch the end of a Wave (2) correction, with the aim of trading the Wave (3) swing. High Volume Spike Analysis (VSA) Indicator – be alerted to trapped buyers or sellers.The MTP Advanced Trade setup script contains the Wave 3 variation of MTPredictor automatic trade setups, TS1(W3), TS3(W3), TS4(W3) as well as the Volume Spike (VS) setup.Elliott Wave tool – find additional set-ups on your charts using the MTPredictor Elliott Wave routine.
Manual Wave Price Target (WPT) support and resistance levels for the set-up, projected profit targets for the trade, full Risk/Reward analysis AND position-sizing are also available on the TradeStationcharts themselves.Quick Analysis of the Automatic setups, including full Position Sizing and Risk control.The 5 automatic MTPredictor set-ups (TS1/TS2/TS3/TS4 and DP) are displayed on the charts automatically.Numerous data choices, including IQFeed and eSignal real-time data.
Includes many standard technical analysis indicators as well as Fibonacci tools.Obviously, todays FED meeting can be a game changer so be aware.
The initial resistance/target can be the DP off of the b swing at 44 with the final target at 46.59.