Blueberry Pie : Signature trade – Trading in the range

Blueberry pie is a signature trade, used when the market is ranging. Trading in a range and holding the level is a market making behavior. Not many signature trades focus on this behavior alone and so here we go..

What you need?

Basic understanding of BTMM concepts

Bluetracer as an indicator

800 EMA as a moving average (blueberry)

— But in general all the indicators are needed.

The Concept of Blueberry pie

The concept of range trading comes when the 800 EMA on M15 is flat like a horizontal line. Which means the market is flat. When the market is flat – we assume that the MM has entered the “Holding the range” mode in a massive way as blueberry is the highest moving average and it represents 50 EMA of 4H chart.

When the blueberry is flat you watch out for the blue-tracer. Reversals off the blue-tracer are going to effectively work while market stays flat. Do not keep scaling out of positions when it goes against you because as soon as MM gets his volume he will get out of the range “aggressively” – maybe by using news, etc. but you should be out of the trade as soon as the pattern breaks.

example 1 Blueberry

example 2 Blueberry

Why does it work? Because in a flat market, the trapped volumes are always at the HOD and LOD – exploiting the breakout traders.

Hope this article made you see some new stuff. Make sure to check out my store and other articles in this blog.

Author :
Hi! I'm a MQL4 developer with over 3 years of trading experience. My aim is to provide the cheapest trading tools for people getting introduced to the platform who don't have access to a lot of funds and resources. I'm always open to suggestions and feedback. This blog contains my personal views. If i have offended you in any occasion... sorry!

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