Hi all,
This is something I've been working on for the last few weeks and believe it holds a lot of potential.
I got the idea from the scalping thread of PTournis using the slope indicator.
I decided to change the settings and try different charts etc.
Basic rules:
Slope settings:50,3,0
PSAR:0.02 0.2
Enter a trade when PSAR and Slope align as attached image shows. Exit is when slope changes direction.
I have noticed PSAR will switch quicker than slope, I have not tested whether exiting and re entering when PSAR re aligns is more profitable, it's certainly something I'd like to monitor.
SL is ATR x2.
I move my stop to BE when +100 is hit.
Obviously this works extremely well in trending markets and can get caught out in a ranging one but I feel this is a massively profitable strategy.
Cherry picking I know, but attached is the trade which formed on Thursday:
This is something I've been working on for the last few weeks and believe it holds a lot of potential.
I got the idea from the scalping thread of PTournis using the slope indicator.
I decided to change the settings and try different charts etc.
Basic rules:
Slope settings:50,3,0
PSAR:0.02 0.2
Enter a trade when PSAR and Slope align as attached image shows. Exit is when slope changes direction.
I have noticed PSAR will switch quicker than slope, I have not tested whether exiting and re entering when PSAR re aligns is more profitable, it's certainly something I'd like to monitor.
SL is ATR x2.
I move my stop to BE when +100 is hit.
Obviously this works extremely well in trending markets and can get caught out in a ranging one but I feel this is a massively profitable strategy.
Cherry picking I know, but attached is the trade which formed on Thursday:
Attached File(s)
Slope Direction Line.ex4
4 KB
|
801 downloads