a teen trader ftr indicator
TRANSCRIPT
FTR Indicator PDF
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A TEEN TRADER FTR INDICATOR INTRODUCTION
Thank you for purchasing the A Teen Trader FTR/FTB Indicator! This PDF is in order to help you installing and
navigating the user interface of the indicator as well as how to use in indicator in your trading!
Disclosure:
Just remember, this is a trading indicator and should not be relied solely upon for your trading or viewed as
providing investment recommendation, this is just a took to help weed out poor FTR set ups and save you time with
alerts! Make sure that you trade only with money that you can afford to lose and remember that past results do
not indicate future performance. A Teen Trader is not responsible for any losses incurred as of result of using any of
the trading tools.
WHAT IS AN FTR?
An FTR or Failed to Return, is a candle pattern in trading. What this pattern shows is that as price is in an up/down
trend, price will push back and collect orders (causing a candle close of the opposite direction) before continuing
the current trend.
BULLISH
This is a Bullish FTR drawn with lines, not candles, essentially what this is a small pull back in price to collect orders
to trap sellers and gather more buyers before continuing up.
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EJ 15m
This is an FTR on a live chart, as you can see, we had 3 bullish candles in a row, then a small red candle (the FTR
candle) and after we continued the push up. How to enter on this candle pattern is very simple, wait for a close of
the next candle ABOVE the FTR candle and then ride the momentum to the next zone. With a Stop Loss BELOW the
wick of the FTR candle.
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BEARISH
A Bearish FTR is simple the opposite of the bullish FTR, price is in a downtrend and has a single candle pull back
that serves as a liquidity grab (order grab). And After results in a continuation of the downward move.
UJ 15m
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Above we have an example of a Bearish FTR on a candle chart. What you can see is that we were in bearish
momentum, created an FTR to collect orders and then furthered the push to the downside. Entering on this would
be just like the Bullish, we would seek entries after the bearish candle engulfing the FTR candle with a stop loss
ABOVE the FTR candle.
FTR RULES:
• 15 minute or higher, 30 minute and 1-hour ideal.
• Trend Continuation
• If price is in consolidation INVALID
• Must have a Single FTR Candle
• If FTR candle is too big, invalid as Risk to Reward will be too high.
• Confirmation candle MUST be larger than FTR candle
• If confirmation candle is TOO big, the trades Risk to Reward will be too high and the trade is NOT VALID
• Ideal Stop Loss is above FTR candle (including wicks) some trade situations may require higher
• Ideal Take profit target is usually the next zone (may be further or may be closer if market conditions
change)
• Confirmation candle closes too close to the next zone, the trade is invalid as the Risk to Reward &
probability of failure will be too high
• IF FTR confirmation candle occurs in and closes OUT of a zone, with clear path to next zone in a major
session, it is a potential valid trade.
WHAT IS AN FTB?
An FTB or a First Time Back, is essentially a move BACK to an FTR that was formed. What this is a manipulation play
that is created by the market makers to trap people in trades the wrong direction, and then continue price back in
the overall momentum.
BULLISH
As you can see here, the left was an FTR and price then proceeded to push away from that but later (usually a few
hours) price came back and Retested that zone before rejecting and continuing the initial move.
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CHFJPY 15M
Here is a bullish FTB, which just simply means that we were in a bullish trend and created it. This is a A- not an A+
set up. Still very good. So, what we see here is an uptrend, then an FTR (I drew zone in) then we pushed away from
that zone (25 pips) which is perfect. Then over the next 1h we pulled back and had a bearish candle close directly
in the zone, and the next candle closed bullish outside of the zone, which is where we take entries. On this set up a
stop loss around 8 pips and a TP at the zone in which we initially moved from is how I would approach this trade.
BEARISH
A Bearish FTB is the reverse of the bullish, price is in a downward momentum and creates an FTR to collect orders
to continue the move. Then price finds a support (usually a minor) and pulls back to the FTR and when it rejects,
we look for sells back to that minor support zone.
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EU 15M
This was a very good setup. Price Created a very nice FTR, we pushed far away (25 pips) pulled back to the FTR and
closed inside the zone. Then we had a bearish engulfing, after that candle we look for entries. With our stop loss
above the FTR zone (12 pips) and our Take profit at the initial reversal (25 pips). Note: after the initial target is hit,
feel free to let one position run.
FTB RULES:
• Stick with the trend
• Price Must Create a Single FTR candle
• Price Must Pull Far away from the FTR candle before coming back (10+ pips)
• On the Retest, the Candle MUST close inside the FTR zone, and the next close OUT of the zone.
• If price moves away from FTR, then consolidates before coming back=INVALID.
• Use TF 15m+
• Place Stop Loss Below/Above FTR candle (including wick)
• If on the FTR retest the candle Closes PAST, the FTR zone=INVALID.
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HOW TO DOWNLOAD THE FTR INDICATOR
In this section of the PDF I will explain how to install the FTR indicator and how to navigate the User Interface!
First open your MT4 account and navigate to “File”
Then navigate to and click “Open Data Folder”
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After you “Open Data Folder” open the folder titled “MQL4” by double clicking.
Now find the folder titled “Indicators” and open said folder.
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Now that you are in the “Indicators” folder, drag & drop or copy & paste the ateentrader_FTR.ex4 that you
downloaded into the folder. Then close out of MT4 and reopen the program to allow for the indicator to be loaded
in.
Upon re-opening MT4 use the navigate window and expand the “indicators” drop down to see the
ateentrader_FTR indicator!
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Now use the Market watch window or the add chart button to open a chart. After opening the chart drag and drop
the FTR indicator onto the chart. Now the user interface of the indicator will expand! In the user interface you will
see a time filter which you can set to only search for FTRs/FTBs within that time (uses local MT4 time not pc time).
You can adjust the quantity of candles before/after an FTR. You will see an ability to add any Moving Averages that
you wish, this will only highlight FTRs/FTBs that form under/over the moving averages you selected. Lastly you will
be able to customize your zones, pick any colors your wish! We have it set to my signature lime green.
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Scrolling further down the user interface you will be able to see some color/size data for the FTRs/FTBs so if you
wish to alter those you may. Below that you will see the arrow colors for the FTR/FTB confirmations which are also
completely adjustable! Then you will see the alerts panes, there you can turn on/off FTR alerts or FTB alerts for
SMS, email or in program. After you have adjusted all your preferred settings, click “save” and your settings will be
able to be re-loaded any time! Have different strategies you want to try? Save then and them “load” them up!
Now to turn on your alerts you can navigate to the “Tools” and “Options” sections from the header of your
platform.
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An “options” window will open, and you can now click “notifications”. This will open a section requesting you to
input a MetaQuotes ID into your system.
In order to find you MetaQuotes ID open your MT4 platform, head over to the “settings” menu and click “Chat and
Messages”. (On Android head over to “Chat” and click the “MQID” at the top right of the screen)
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After opening “Chat and Messages” look down at the bottom of the screen and you will be able to find your
MetaQuotes ID number. Input this number into your notifications pane on MT4 desktop and click “test”. If you set
it up correctly you will get a test message send to your “Chat and messages” section of your app.
To set up email notifications click “email” tab in the “Options” section of the “Tools” drop down and input all of
your required data points. To find things like your SMTP server head over to your Gmail account and open your
settings!
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Lastly, use and enjoy the indicator! Make sure to identify quality FTRs with momentum as discussed earlier, make
sure not to trade FTRs whilst on support/resistance ranges, and when shifting between timeframes make sure to
right click and “refresh”! It will make all the zones/arrows load in.
Thank you so much for the support and enjoy the indicator! We will be constantly updating the indicator to
provide the best experience for our users. Therefore, if you have any questions or concerns, please reach out to
me!
Best,
A Teen Trader
Email- [email protected]
Telegram/Instagram/Twitter-@ATeenTrader