Simple Falling Wedge Strategy - FoenySmiles v1.0

This is a trend reversal strategy trying to catch the bottom of downtrends when they show signs of weakening (falling wedge pattern) while using trailing stops to protect profits if the reversal works out.

Falling wedge strategy:
Looks for falling wedge patterns where both highs and lows are declining
Specifically, it wants to see Lower highs for 3 consecutive bars, Lower lows for 3 consecutive bars, RSI must be above 30 (showing the downtrend might be losing momentum)

Risk Management:
Uses ATR (Average True Range) to set stop losses
Initial stop loss is set at: Entry Price - (ATR × 2.0)
Stop loss trails upward as price moves up, but never moves down
Uses 100% of account equity for position sizing
Includes 0.1% commission and 3 points slippage in calculations

Exit Rules:
The strategy exits when either:
Price closes below the trailing stop loss or RSI becomes overbought (>70)

Key Parameters:
RSI Length: 3 periods (very short-term momentum)
Pattern Lookback: 11 bars
ATR Period: 14 bars
ATR Multiplier: 2.0 for stop loss calculation
Date Range: 2018 to 2069

Shoutout to Sam Price for being an awesome mentor and supporting a community of inspired traders. Let's go lifers!!

foneysmiles[@]gmail.com if you have any questions or have other ideas on use cases.