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Per Max' suggestion (with Perry's endorsement), posts related to automation will now be in a strategy development thread. I've addressed your raised issue in the following:
Yes, you can run the same strategy (or more than one strategy) on different instruments (charts) at the same time. However, you will need to bear your computer's capacity and chart overload issues in mind.
The following is an UPDATE of how to trade method 1 in an easy and more relaxed fashionincreasing the probabilty for success.
1. Take an 8 Range chart and put the exact setup indicators on this charts.
2. Next to the 8 range chart have your usual 4 range chart with the same setups.
IMPORTANT:
Watch the 8 Range chart for a SETUP BAR with all the conditions met. Now go to your 4 Range chart and TAKE THE TRADE FROM THE 4 Range chart. Normally you will see a beautiful setup waiting for you to enter on the 4 range. TAKE THE TRADE ON THE 4 Range with ALL THE NORMAL setup condtions in place.
Note: The above will normally put you into a trade with a very high probabilty of success.
i am getting alittle confused - was using your method 1 and getting good signals - but with your new update u dont have the setup bars crossing both the ema 5 and ema 20 so how is that a setup
Nothing to be confused about. If you have been taking good signals and are satisfied, then just continue with ONE chart.
The use of 2 charts, gives higher probabilities and maybe less stress. Watch to see how the higher time frame is getting setup, and then go to the lower time frame, and take the trade there. If the lower time is not ready, wait for the setup, but this will ensure a high probabilty trade as the higher time frame will already be in the direction of your trade.
thought that the setup bar can only accur after the crossover happen on the 4 range - meaning it works like a pull back and then we will trade the breakout ?
Please note that nothing has changed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Take a look at the price action on the 8 range and the 4 range, and watch them for a day or two. I hope you will then see what I mean. If not, keep going as you have been before if it is good for you.