This is the fifth episode of a blog series on how to use the „Netsrac SR Dashboard" (SRD) to find trading opportunities. The SRD is designed to reduce your time in front of the monitor. It can find many setups for us. All we have to do is trade those setups.
I have been asked by some people how to operate the dashboard correctly. That's why I want to start this blog series. We will cover the following topics:
- Using the "Netsrac SR Dashboard" (quick guide)
- Trading Pinbars
- Quick Shots with the Dashboard
- Trading the Engulfing Pattern
- Weekly pivot as potential reversal points
- Scalping the short term trend
- Trend trading with important moving averages
- Volatility outbreak
- ... (may continue)
We want to trade with the trend. So we are trend traders. We use three different timeframes and trade only, if the two bigger timeframes are down and if the smallest timeframe is changed to down. Thats all. We use M1, M5 and M30 for this setup.
Prepare SR dashboard
We want to monitor the Trends in three timeframes. So we use the section "TREND". Nothing more.
| Variable in SR Dashboard-Options | Value |
|---|---|
| Use Trend section | true |
| Use (A)DR section | false |
| Use RSI section | false |
| Use Moving Average section | false |
| Use Pivot section | false |
| Use High/Low section | false |
| Use PA section | false |
Setting Trend section
These are the settings in this section:
| Variable in SR Dashboard-Options | Value |
|---|---|
| Timeframe 1 | 1 Minute |
| Score "Trend Down" Timeframe 1 | -1 |
| Score "Trend Change" in Timeframe 1 | -1 |
| Timeframe 2 | 5 Minute |
| Score "Trend Down" Timeframe 1 | -1 |
| Timeframe 3 | 30 Minute |
| Score "Trend Down" Timeframe 3 | -1 |
So if all our conditions are met, we get a overall score of -4. So let us set the alert for this threshold.
| Variable in SR Dashboard-Options | Value |
|---|---|
| Alert, if score is smaller or equal to ... | -4 |
| Use Screen-Alert | true |
With this settings, we get an alert, when a bearish setup occured (Score -4).
Let's take a look at our dashboard now:
No setup at the moment. If we click on AUDCAD, we see a nice short trend.
It is a nice downtrend - but to have a setup, we need a pullback and then a "get back to trend" (Trend change in M1 to down). So we have to wait.
Now a alert is generated in NZDCHF. Lets take a look:
We click on NZDCHF and see whats happened:
That's all. Now we have configured our SR Dashboard to Scalp the short term trend. Please find the setfile in the attachements.
Get the full version: https://www.mql5.com/en/market/product/34855
Get the lite version: https://www.mql5.com/en/market/product/34863
Good Luck and green pips to you!
