Today, I was asked a really good question about TheStrat Indicators. It was so good, I have decided to share the response with you.
The question, in summary, was:
Which TheStrat Indicator should I start with?
Now, that’s a great question but one which could have many answers. It all really depends on your journey with TheStrat and where you are now.
Once you have some TheStrat knowledge under your belt, you can start thinking what would be most helpful for your trading.
Originally, I built the indicators for my own use and as a way to learn TheStrat, so I guess that order might be helpful too.
See the end of this post for links to all the indicators
I started with the Candles indicator as an aid to spotting which stage the current candle was at, and as a tool to assist visual back testing.
I then moved on the Patterns indicator and that helped me a lot.
Once I had started spotting setups, I realised I needed to take into account timeframe continuity and created the FTFC indicator and that helped in two ways. First if price is outside the lines, then you know it can continue trending for quite a long time, but equally if also shows that when it turns back inside the lines, it tends to do so really quickly.
After that I think it was the Levels indicator, and for me that was a breakthrough, because now I could see the higher timeframe levels to trade, and start looking for actionable patterns on the current timeframe in the same direction.
After all those, I was asked to create the TFC Monitor by a customer, and initially I didn’t see the point, but it does help see what price is doing across multiple timeframes.
The last one I created was the Monitor which brings it all together in one screen for multiple symbols, a sort of dashboard to help you find new trades.
Hopefully, that will help you decide which Indicator would suit you most.
Links to more information and the Indicators in question:
– Labels the candles on your chart according to TheStrat candle types
– Shows trade entry points as levels on your chart, with potential targets and stops too.
TheStrat TFC Monitor
– Shows the current candle state for multiple timeframes on your chart.
– Shows Full Time Frame Continuity state on your chart as a band with upper and lower levels.
– Shows all the details for multiple symbols on one screen, giving the candle type, state and any patterns in-force or actionable.