While I continue to learn my way around my new TickBlaze Platform, where all the functions and features are located and make my mods to the existing pallet of tools, I have put together a nice, simple little strategy, within my Tickblaze Platform, that will potentially yield a nice little profit, if the rules are followed.
NOTE: This strategy will function effectively in Trending Markets and Oscillating Markets, Larger Timeframes Shorter Timeframes, Multiple Asset Classes, Various Bar Types. (You'll have to test for yourselves)
I like to use Order Flow and a confluence of variant indicators here n' there. You may see them in the captures, but they are not absolutely necessary.
My Setup: 1 Minute Chart (All Current Settings Are Default - I even left the bar colors Default)
Though the examples that I have posted are all Long Position Trades (No particular reason for this) This will additionally work with Short Position Trades.
Indicators Used: Fibonacci Retracements (Default Values), Fibonacci Extensions (Default Values) Donchian Channel (Default Settings), Manually Drawn Dynamic Volume Profile (Default Settings)
So prepare your chart and let's get to it...
Basically the strategy is sort of self explanatory, but for those who wish a little more verbiage here ya' go: I'll be using my posted charts as a reference throughout my synopsis.
1st: Choose whatever timeframe that you are comfortable trading in. Then choose your Bar Type.
2nd: Determine Market Bias. You want to have an idea of what the current bias is in the session that you'll be trading in. It's not absolutely necessary, but if you are looking for even the slightest edge in your trading, I would advise that you do so.
3rd: Now that you have your chart set and indicators loaded and you have your chosen instrument (I've used the ES, but you can use the MES, MNQ, MYM, M2K, MCL, MGC, etc...)
4th: Wait on a break of the Median or Midline and the most recent Bar that broke the Median to close (Time, Renko, Range, Volume, etc...) Take your entry on either the break of the Median Line with a Buy Stop Passive Order or execute with a MIT or Market Order. In accordance with your risk tolerance, should you be tightening your stop loss along the way, I would highly recommend that you leave the trade some breathing room to work its magic through spikes, swings and oscillations.
5th: If you are utilizing a Static Target with single order or Multiple Targets with staggered Targets, be certain to have them in place, as the markets may run very quickly to your target(s) and valley in retreat. So, use a little foresight in your judgement.
6th: I would suggest while in a Long Position to utilize the Upper Donchian Rail as a guide and the Median as not necessarily a stop loss, but more of a Red Zone, Warning Track or Fog Line. The same holds true for the inverse scenario of this one and use the Lower Donchian Rail as a guide and the Median Line as more of Red Zone, Warning Track or Fog Line.
Riding The Lower Rails
Riding The Upper Rails
Please Take Note
Study the captures that I have provided. Look at the detail and feel free to ask questions.
Below: Example 1 - 1 ES Trade 10 - 20 Minutes
As mentioned in the capture, with 1 ES contract within 10 minutes and a single trade, it yielded a potential gross profit of $575.00 had you exited the position at the 11:00am Peak.
You could have yielded a potential gross profit of $362.50 trading 1 ES contract exiting at the Warning Track. (Note above where I stated not to necessarily treat the Median as a Stopp Loss (You Very Well Could), by in hypothesis, if you didn't take profit at the 11:00am Peak and let it roll, then got nervous and pulled the plug at the Warning Track, you would have left money on the table, as shown in the capture above. Either way, it's your decision to make. I''m simply pointing out a few options.
Below: Example 2 - 1 ES Contract 2 Seperate Trades
As seen in the capture above a potential to yield over $2,500 in gross profit in roughly 60 minutes.. Following the guidelines that I have laid out above in written text, you can see the potential for profit.
In all 3 trade scenarios, trading just 1 ES Futures contract in roughly under 90 minutes or less, one could have easily grossed over $3,000 in potential profit.
Not too shabby in the income department and all before taking a lunch break.
I'm curious to see how well everyone will do with this Profitable and Super Simple Strategy so feel free to comment and let me know how all of you are doing with this strategy.
Thanks for checking it out - I wish you all the best of luck in your trading.
Sharp-Shooter