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.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.