Intrepid Trading Strategy For MT4
Table Of Contents:
- Intrepid Trading Strategy For MT4
- The Intrepid trading strategy for MT4 – Long positions
- The Intrepid Trading Strategy For MT4 – Short positions
- Is the Intrepid Trading Strategy For MT4 profitable?
Please note: This strategy was publicly published in the trading community and is free to use. We do NOT make an attempt to decide if this strategy is profitable or not, because we know that the major factors regarding trading results are the skills/experience of the trader who executes the strategy. Therefore, we are mainly explaining the components and rules of the strategy. If applicable, we are highlighting advantages, disadvantages and possible improvements of the strategy.
The Intrepid Trading Strategy For MT4 is a short-term scalping system which is based on a trend following concept. This trading system is ideally suited for trading on the 15-minute chart or lower time frames. There are quite a few indicators that are used in the intrepid trading strategy.
The first indicator on the price chart is called the Super trend indicator. The Super trend indicator is responsible for painting the price bars in green or red colors. This depicts the short-term trends on a candlestick basis. You will also notice that there are some yellow candlesticks as well. This is when the trend is shifting. It is important to note that your charts need to be compressed in order to have these colored candlesticks visible on the price chart. If you zoom into the price chart, then these candlesticks will disappear.
The next couple of indicators on the price chart include the Ichimoku Kinko Hyo, reversal points indicator, super signals channel indicator. Among the three, the Super signals channel indicator is responsible for plotting the highs and lows above and below price. This indicator also serves the purpose of showing you the long-term trend in the markets. Within the high and low of the price channel indicator you have the Ichimoku indicator where we can only see the cloud.
In the first sub window of the intrepid trading system, we have the trend bars indicator which is also used in the second sub window of this trading system. The main difference between the two is the indicator settings that are used. When taking a long or short position using the intrepid trading system you will need to keep an eye on the trends as depicted by both these instances of the trend bars indicator.
In the third sub window of the intrepid trading system, we have the CZI indicator. This indicator is once again based on momentum and the trends. It confirms the trend by plotting the Brown bars in the indicator. Bear in mind that this is a non-directional indicator meaning that if the trend is down or whether the trend is up the CCI indicator will plot the Brown bars. The only thing that traders need to take away from this indicator is that when the trend is strong you will see the Brown bars being plotted.
In the fourth sub window of the intrepid trading system we finally have the MACD indicator this indicator works as the standard indicator meaning that the histogram oscillates around the zero line. This indicator can serve the purpose of confirming your trades just before entering. The above indicators combined together make up for the intrepid trading system. Let's now take a look at how you can trade long and short positions using this trading strategy.
The Intrepid trading strategy for MT4 – Long positions
For long positions, first start by looking at the price trend. The price channel indicator should be making higher lows. Following this now wait for price action to trade above the Ichimoku cloud. By this point you will also see that the price action will start to plot green price bars. This indicates that the market is continuing to move to the upside and prepares us for taking the long position.
Now, look to the indicator confirmations in the sub window. Firstly, we need to see the price trend indicators turning green. Following this look to the CCI indicator. Here the indicator should start to plot Brown bars suggesting that the momentum to the upside is holding strongly. Following this you can then look to the MACD indicator and here we need to see the histogram trading above the zero line.
After you get the confirmation of all the indicators in the intrepid trading system you can take a long position at market. Identify the recent swing low that formed and place your stop loss to this level now set your take profit to the upper price channel. You will have to constantly adjust your take profit level as price action evolves.
The Intrepid Trading Strategy For MT4 – Short positions
For short positions, first start by looking at the price trend. The price channel indicator should be making lower highs. Following this now wait for price action to trade below the Ichimoku cloud. By this point you will also see that the price action will start to plot red price bars. This indicates that the market is continuing to move to the downside and prepares us for taking the short position.
Now, look to the indicator confirmations in the sub window. Firstly, we need to see the price trend indicators turning red. Following this look to the CZI indicator. Here, the indicator should start to plot brown bars suggesting that the momentum to the downside is holding strongly. Following this you can then look to the MACD indicator and here we need to see the histogram trading below the zero line.
After you get the confirmation of all the indicators in the intrepid trading system you can take a short position at market. Identify the recent swing high that formed and place your stop loss to this level now set your take profit to the lower price channel. You will have to constantly adjust your take profit level as price action evolves.
Is the Intrepid Trading Strategy For MT4 profitable?
To conclude, the intrepid trading strategy is a fairly reliable trading system. This is a short-term scalping strategy that focuses on the price trends. There for this trading strategy is reliable to a certain extent. However, most of your trading signals will come off based off scalping positions meaning that you will not be able to hold on to your position for long periods of time.
The template that comes with the intrepid trading strategy is also lightweight however we recommend that you do not use the template on more than two instruments at the same time overall the intrepid trading strategy can be recommended for both beginners as well as professional traders.
Download the complete system description and the files here:
Partially Automated Trading Besides Your Day Job
Alerts In Real-Time When Divergences Occur
