We’ve specially tuned the Logical Forex Indicators to work with 1 Range on ALL of your charts. We recommend that you do NOT change it! This is described further in the materials you have available after installation.
But, the answer to your question is…yes, sure you can.
If you do choose to use a different timeframe on your chart, you will see a reminder/warning on the bottom right corner of your chart.
When you use anything other than the default we recommend…
Most often, when you see this warning, it simply means that you forgot to set the Interval Setting Properly. This reminder/warning will remain on your chart until you set it to "1 Range".
Correct the Chart Settings…
If you just made a mistake when you opened your chart and forgot to select the proper setting, you can simply Right-Click on the chart and select "Format Data Series, or you can just press Ctrl-F. This will allow you to setup your chart using the following popup box…
Always setup your charts like this…
1. Chose the instrument type you want – Currency. Remember, we have thoroughly proven Logical Forex works in the FOREX Spot Market. You are free to try other intstrument types, but you are on your own. You can eliminate a lot of "research" by simply using the method and setups we recommend. Later, after you hvae become proficient with Logical Forex "as is", you can try other instrument types.
2. The preferred currency pairs are EUR/USD and EUR/JPY. You can just type them directly into the box as EURUSD and EURJPY or click the little button with the "…" in it. You can certainly try other currency pairs, but WHY DO THAT NOW? Learn the system exactly as it has been designed and proven, and you can make your own modifications later. Logical Forex has been designed to be much like a "blueprint" that you can follow to get started quickly. Stay with it, and your progress will be much quicker and more thorough.
3. I prefer to set the "Range" first. NinjaTrader will always reset the other selection to "4", making it "4 Range". This is NOT what we want. If you set the "1" first, and then the "Range", NinjaTrader will change the "1" back into a "4", so it’s just easier to select "Range" first… and then…
4. Set the Range to 1. Do not use any other setting, certainly not while you are learning.
5. Select the Logical ForexTtrading template.
6. You don’t need more than about 3 Days of history. The more history you include here. the longer it will take for NinjaTrader to open your chart, and it will actually slow down NinjaTrader significantly in its regular operation. Just use 3 Days.
Anything other than a "1-Range" Setting Is…
The "longer timeframes" take, duh, longer to signal you. These longer "timeframes" may give "clearer" entry signals, but because they mask some of the critical price movement, you can easily be fooled into a trade. In other words, you might enter a trade that has a clear signal, but because the timeframe/interval you have selected is "long" or "large", you would not see the spikes and movements that may cause a quick hit to your equity…as in a loss.
Perhaps even more critical… if you have your chart set for 4-Range, price will have to move 4 Pips before you see ANYTHING change on your chart. Since I will be using 1-Range, I will probably already be finished with my trade, exited with a profit, and probably unloaded my trade on YOU… since you will be LATE in doing anything.
So, be very careful making the timeframes and intervals "longer" or "larger", unless you have nerves of steel and don’t mind a trade going deep against you, or you have deep pockets, or ideally, both.
And…don’t get carried away "experimenting". TRADE! That’s what the Logical Forex Trading System is all about. We’ve spent the time, money and researching creating this method to be successful. We don’t "tinker with it". We just trade. You do the same.
