Pinocchio System
Our next Robot will be using a system based on pin bars reversals.
Valid Bullish Pin Bars:
Our next Robot will be using a system based on pin bars reversals.
Valid Bullish Pin Bars:
- Body is at most 25% of the whole bar
- Lower Tail at least 75% of the whole bar
- Upper Tail at most 10% of the whole bar
- Formed at Bottom (Lower than previous x bars)
- Lower by x pips than previous bar
- Bar size is at least N * ATR (x)
- Tick Volume above average ( MA(x) on volume)
Valid Bearish Pin Bars:
- Body is at most 25% of the whole bar
- Upper Tail at least 75% of the whole bar
- Lower Tail at most 10% of the whole bar
- Formed at Top (Higher than previous x bars)
- Higher by x pips than previous bar
- Bar size is at least N * ATR (x)
- Tick Volume above average ( MA(x) on volume)
Entry : Trade will be opened in Pin bar direction
- after a break of High(for bullish) and Low (for bearish) by x pips
- Or, after break by x pips, and retest of pin bar high/low
- Or, after a higher/lower close of the next bar
Stop Loss:
- x pips (-/+), (Low/High) of Pin bar
- y * pin bar size
Take Profit:
- Partial Profit at y * pin bar size
- Trailing Stop on remaining position
You opinions are welcome
PS: Percentages indicated for valid pin bars can be user inputs
No guts, no glory
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