Trading has been simplified with the new TradersHelpDesk indicators which includes combining for multiple timeframes. Identifying an entry at the Trend Average True Range (ATR) stop is as simple as monitoring either the Multicharts Scanner, TradeStation RadarScreen or the NinjaTrader Market Analyzer. It also happens to be the lowest point of risk for any trader, regardless of whether you are trading futures, forex, stocks, options, or even binary options.
Trading Made Simple with TradersHelpDesk Indicators Video Shows How They Work Together to Give You the Full Picture Using Multiple Timeframes
In this video, Gail Mercer, shows how these tools work together to identify the best possible entry using a multiple timeframe approach for entering trades..
- ADX – identifies when markets are likely to retrace back to the ATR and when markets are overbought or oversold.
- Stochastics – identifies divergences (both trend and hidden), plus confirmation that markets are either overbought or oversold.
- Trend ATR – identifies the Average True Range stop, reversal bars, wide bars, and immediate trend
- ATR Support and Resistance – identifies the ATR stop using three different timeframes so you can see when they align
- Directional Volume – identifies the total buyers and sellers on each bar. This makes detecting selling and buying divergences much easier.
In the simplest format, watching the ATR Support and Resistance indicator will show you when at least two timeframes have aligned (this is the minimum alignment for entry). The Trend ATR for Multicharts Scanner, TradeStation RadarScreen or NinjaTrader 8 Market Analyzer will also provide your choice of visual alerts, email alerts or audio alerts whenever “Price at ATR” occurs.
Additionally, by monitoring the ADX values you can instantly identify when the markets are either overbought or oversold (values > 70). A value over 70 simply means wait for an entry because the market is overextended. If a magenta peak occurs, then you also know that a retracement back to the ATR should occur in the very near future. If the ADX magenta peak occurs on a higher timeframe, then that identifies a potential to trade the lower timeframe alignment occurs (remember trade alignment means that two timeframes must align together or 2 plus signs either above or below price) and then a retest must occur with divergence prior to entry.
TradeFlow Analysis Shows Decision Process for Entering Trades Using TradersHelpDesk Indicators
The TradersHelpDesk TradeFlow Analysis shows the decision making process for using the ATR support and resistance indicator with the other TradersHelpDesk indicators:
Notice the first question is whether price is at ATR. That is because all basic entries using the TradersHelpDesk indicators begin with the ATR because, again, it is your lowest point of risk. Additionally, the ADX will identify when price is likely to retrace back to the ATR by forming a magenta dot. This is the first notification that an entry may be coming up in the near future. Then simply waiting for price to approach the ATR is the next step.
Once price retraces back to the ATR, there will be a potential entry. The next step is to look to the ATR support & resistance indicator to ensure that you have the white and blue ATR in one direction (either they are both above or both below price). If they are split, there is no entry! If they are both aligned (meaning in the same direction), then you look to the Stochastics for confirmation. Confirmation will typically appear as either trend divergence or hidden divergence. Hidden divergence is by far the best confirmation because it signals a momentum move is about to occur.
If the two ATRs (white and blue) are below price, then the entry will be to the long side (you will buy). If the two ATRs are above price, then the entry will be to the short side (you will sell).
These are by far the best entries. While you will notice other entries, if you are new, limit your trading using this TradeFlow analysis for the best possible entries while you are new and still learning the power of the TradersHelpDesk indicators.
While there are many charts and videos showing this on the blog, here is a recent 15-minute chart of the GBPUSD. The beginning of the chart (red “X” shows that you would not consider an entry as the ATRs are split. Then they align and price is at the ATR (point 1 and 2). As price retraced back to the ATR, making a higher low in price, the Stochastics shows that a lower low was made (hidden divergence confirming a potential upmove was likely). Price then proceeds to move up and make a new high.
TradersHelpDesk Indicators can be purchased individually or in a package
The TradersHelpDesk indicators can be purchased individually or in a package. The Create Your Own Package allows you to choose any three indicators and includes the three selected indicators, documentation and workspaces or templates. The Silver Package includes the basic indicators, documentation, workspaces or templates and training videos, as well.
Of course, if you are new to TradeStation, NinjaTrader, or Multicharts, then Gail can connect to your computer and install the indicators and setup your workspaces (installation is included in the Silver package), as well.