In this help article we would like to show you the basics of using MTPredictor to find trade setups.
The first thing to understand is that Markets are random about 50% of the time, so, as a Trader, you should only be considering trade setup when (and only when) the picture is clear. For this we use our DP (Decision Point) levels on the higher time frame chart.
Then, if the market is making a reversal at one of these levels you can then come down to the shorter time frame chart to consider trade setups.
To see this in action, please see these short videos:
- Example using the Stand-alone version (12 mins)
- Example using the NinjaTrader 8 add-ons (12 mins)
- Example using the TradingView Scripts (6 mins)
You can think of this as a two step process.
- Use the higher time frame DP’s to determine the larger degree trend and then.
- Consider trades on the shorter time frame.
It is important to stress again, that because the markets are random about 50% of the time, it is very important that you only consider trades, when, and only when, the picture is clear.
Please remember that although MTPredictor has automatic setups, we do not suggest that you just follow these blindly as if it were a black box mechanical system, judgement is needed in filtering the automatic setups, particularly with respect a clear larger degree trend. Each Trader must take responsibility for deciding on whether their own Analysis is clear and fits in with their own (personal and unique) Trading Plan.