MTP Trade Setups

The MTP Trade setups script contain the standard MTPredictor automatic trade setups, TS1, TS2, TS3, TS4 and DP.

The TS1, TS2, TS3, TS4 trade setups are based around the ABC correction of varying degrees, and as such, are designed to catch the end of a correction in a continuing trend. Whereas the DP is a trend termination setup at our MTP DP level on oscillator divergence. We define the trend by using Support / Resistance areas on the higher time frame chart using our MTP DP levels. For more detail of the MTP DP Levels, please visit the publication of the MTP DP script.

Entry triggers triggers are provided by our MTP coloured reversal bars that are part of our MTP Analysis Script. The triggers are Blue for a potential Buy, Red for a potential Sell, and Grey for Neutral. Please note, these are only relevant at (or up to 5 bars after) the potential trade setup. Please see our MTP Analysis Script for more information.

Targets for the setups are automatically shown for each setup as part of the Trade Analysis. Position Sizing is included in the Analysis as well.

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.

There is a risk in Trading and Investing. Losses can and will unfold.

The script is available as an “invite-only” script, as part of the MTPredictor suite of tools on Trading View.

To obtain access, please go to the web page in our signature that appears below.

Versionshinweise:

Fix for MTP Trade setups not displaying. Please remove the old script and then add this new one onto all of your Charts, to update to the latest version.

Versionshinweise:

This new version combines both the old MTP Trade Setups and the old MTP Advanced Trade setup Scripts. As such it now contains all our automatic setups (TS1, TS2, TS3, TS4, DP, TS1, TS3, TS4 and VS) all together in one Script.

It has been rewritten from the ground up to take advantage of the new features that are available in Pine Script v5, as well as their new Library functions. This increases efficiency of the scripts and as such increased reliability.

The new version also makes use of the new "grab and drag" capabilities of Pine v5 to apply the Trade Setup Analysis to the Chart, and as such has made the Script a lot easier to use. Please see the new help videos on the MTPredictor web site to see how to use the new features.

Current users upgrade instructions: Please remove the old script and then add this new one onto all of your Charts, to update to the latest version.

Versionshinweise:

Fix issue with entry R/R line when the selection is on the last bar of chart.

Current users upgrade instructions: Please remove the old script and then add this new one onto all of your Charts, to update to the latest version.

Versionshinweise:

Added new PB (Pullback) Trade Setup.

Minor Code revisions to optimise performance.

Current users upgrade instructions: Please remove the old script and then add this new one onto all of your Charts, to update to the latest version.