Hi Everybody,
A lot of traders like to use standard technical indicators, for example Stochastic Divergence. But what these standard indicator lack is the “price level” at which to anticipate a reversal. Well, this is where MTPredictor comes in with the DP level !
As we can see on this 3min NQ chart, we had lovely Stochastic divergence going into the 13:54EST high, but then we also go a red (sell) bar at DP resistance. This was the signal that a high was coming in and Advanced Traders should be preparing for a new short trade. This nailed the high before the NQ declined sharply.
Simply using the ATRStop would have locked in a lovely +9R Profit (ignoring slippage and commission).
But this shows how the tools in MTPredictor can enhance your use of the standard indicators that are available in the industry.
Thanks, Steve
A lot of traders like to use standard technical indicators, for example Stochastic Divergence. But what these standard indicator lack is the “price level” at which to anticipate a reversal. Well, this is where MTPredictor comes in with the DP level !
As we can see on this 3min NQ chart, we had lovely Stochastic divergence going into the 13:54EST high, but then we also go a red (sell) bar at DP resistance. This was the signal that a high was coming in and Advanced Traders should be preparing for a new short trade. This nailed the high before the NQ declined sharply.
Simply using the ATRStop would have locked in a lovely +9R Profit (ignoring slippage and commission).
But this shows how the tools in MTPredictor can enhance your use of the standard indicators that are available in the industry.
Thanks, Steve
