This strategy is based on Steve Primo's No. 4 with added entry conditions. I will describe long trades only, conversely is valid for shorts.
1. Price has to be above basis SMA and fast EMA 2. Fast EMA has to be above basis EMA 3. ADX has to be above 20 (settings 14,20, fixed) 4. RSI has to be above 50 and above its 21 EMA 5. A pullback has to occur with the touch of the fast EMA 6. A bounce from that level has to occur and close above the control EMA 7. We compare N (1) bars for reverse for fast EMA bounce
Please use it on your own risk. Will add some strategy rules afterwards. My proposal is to use it on Daily and Weekly TF.
Notas de Lançamento
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Updated script. All MA's are plotted, entered also the recommended Entry Point, Stop Loss and Take Profit levels, which can be seen in data window and in general fine tuned a bit.
1. ADX, RSI and basis SMA are watched on the weekly TF, all other MA's on the Active TF (I propose Daily or 4 h).
2. If you want to follow the strategy, open only one trade at the time. Until the price hits SL or TP, do not open additional trades on the same market, even if the buy/sell signals are generated.
1. ADX, RSI and basis SMA are watched on the weekly TF, all other MA's on the Active TF (I propose Daily or 4 h).
2. If you want to follow the strategy, open only one trade at the time. Until the price hits SL or TP, do not open additional trades on the same market, even if the buy/sell signals are generated.
Stay humble and healthy