From Now, i will list strategies as UCS _S_ & Indicators will be UCS_I_
This is a short term Pullback / Bounce Strategy. Recommend using this on Daily Chart. Option strategies that work the best are (weekly options credit spread). Further advanced traders can take advantages with Gamma Scalping on low IV.
Few more revision are planned Rev 1. Add stoploss and target signals Rev 2. Conservative Trade Entries. Rev 3. Customized Settings for trading short and long term, with signals only plotted on daily chart.
This revision is from 2011. There are more information and hints on the recent versions, it seems. I do not own this strategy. I did not create this strategy. For further information and the current version -
UCSgears, Thanks for your great help. I am having an error when compiling this. It is probably some silly mistake but thanks for helping out.
Below is the error message:
Processing script...
Variable `length` is already assigned.
Script 'SPStrategy#4' has been saved
----
Below is the full script as loaded:
//
// @Author LazyBear
// List of all my indicators:
// docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing // v2 - fixed a typo, where BB multipler was always stuck at 1.5. [Thanks @ucsgears]
//
study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator [LazyBear]", overlay=false)
// Calculate BB
source = close
basis = sma(source, length)
dev = mult * stdev(source, length)
upperBB = basis + dev
lowerBB = basis - dev
// Calculate KC
ma = sma(source, lengthKC)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC
sqzOn = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz = (sqzOn == false) and (sqzOff == false)
val = linreg(source - avg(avg(highest(high, lengthKC), lowest(low, lengthKC)),sma(close,lengthKC)),
lengthKC,0)
bcolor = iff( val > 0,
iff( val > nz(val[1]), lime, green),
iff( val < nz(val[1]), red, maroon))
scolor = noSqz ? blue : sqzOn ? black : gray
plot(val, color=bcolor, style=histogram, linewidth=4)
plot(0, color=scolor, style=cross, linewidth=2)
sanaga
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Never mind. I found my own mistake. Copy BB part twice when trying to fix the KC 1.5 issue.
r3al
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Good Skript,
kann you tell me what settings to adjust if I want to use this for monthly credit spreads?
Thx
UDAY_C_Santhakumar
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This is 1:1 Risk to reward strategy. Active Trade Management is advised.
IvanLabrie
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This works great, I use something like this all the time.
gottimhimmel
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I am confused about something, does the setup bar have to touch the bottom or top band on a pullback in order to generate a signal? Also, what kind of price channels are these with what kind of lookback period? Thanks.
I appreciate you coding the strategy, I would still like to fully understand it and be able to see what it is I'm looking at
UDAY_C_Santhakumar
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Watch Steve's Youtube free videos
gottimhimmel
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I've watched them...they start repeating because he always posts nearly the exact same video
Thanks for all the work you do (that is NOT sarcasm)