The MT SLINGSHOT
Sometimes the pattern continues to repeat - a strong reversal takes place.
Divergence tells you a change is due soon, indicators tell you to enter NOW
Pay attention to price action across time frames
Without the vertical and horizontal scales you would be hard pressed to tell whether
you were viewing a 3 month daily, a 15 minute per bar or a short term tick chart.
The MT Slingshot pattern prints on all time frames & markets.
This example combines divergence with the MT SLING signals
The MT SLING is an Indicator Pattern combination and a Signal
It combines the MACD EMAs and the Stochastic (%D line)...
It combines the MACD EMAs and the Stochastic (%D line)...
MT for price direction (trend) and STO for the 'trigger" (entry)
This indicator pattern can fire off at any time.
The signal-set often triggers on a pull-back after a bottom has printed.
Frequency of occurrence is very high.
Look for the MACD EMAs to be flat or rising while the stochastic is hooking up.
(The pattern is more powerful when the indicators are below the centerlines)
The pattern often occurs across multiple time frames
This indicator pattern can fire off at any time.
The signal-set often triggers on a pull-back after a bottom has printed.
Frequency of occurrence is very high.
Look for the MACD EMAs to be flat or rising while the stochastic is hooking up.
(The pattern is more powerful when the indicators are below the centerlines)
The pattern often occurs across multiple time frames
Sometimes the pattern continues to repeat - a strong reversal takes place.
Divergence tells you a change is due soon, indicators tell you to enter NOW
Pay attention to price action across time frames
Without the vertical and horizontal scales you would be hard pressed to tell whether
you were viewing a 3 month daily, a 15 minute per bar or a short term tick chart.
The MT Slingshot pattern prints on all time frames & markets.
This example combines divergence with the MT SLING signals
Be flexible...use multiple time frames
A look at a 3 time frame trade using the higher ones for spotting the trend.
Remember "Buy-the-Dips" ? Sometimes they are continuation signals.
Frequency of occurrence
Divergence on the higher time frame is an excellent entry signal by itself
(see the vertical white dots on the 35T chart)
As "second chance" entries, MT SLINGS are more useful on the lower time frames
(see the vertical blue line on the 20T and compare it to that of the 35T.)
Continuation MT SLING...CMTS...No matter what you call it
combining the MAC Trend and the Stochastic is a strong rational for entry.
The pattern continually reveals itself on all time frames...
Why use MACD? The trend is your friend...
Daily MT SLING
MT SLINGs on a 30 minute time based chart
MT SLINGs on a tick based chart
Even with this very reliable pattern, as always....USE STOPS
