A MultiCharts 10 Crude Oil Trading System
SR CounterTrend Crude Oil MultiCharts 10
SR CounterTrend Crude Oil is a counter trend support and resistance trading system that uses traditional support and resistance methods combined with proprietary methods for determining the trend. We have developed this strategy from the SR CounterTrend E-mini S&P, which uses market internals to determine the trend. Since market internals only apply to stock index futures, we have additional methods to determine the trend of the Crude Oil market.
For Crude Oil, our support and resistance numbers vary depending on the short term trend. The data and input settings as well as the Custom Session are shown below.
The data settings are shown in the image below. This strategy trades on 5 minute bars for data1 and references daily bars for data2. Setting up daily bars is based on the custom session from 8:30 am – 3:15 pm EST (exchange time).