Disliked{quote} so far would you say this is a good strategy or not, judging from your experience with EA's and the results we have?Ignored
However, there are 2 issues that can make or break the strategy.
1. Correct identification of the main trend. Using MA(200) is one way, but how reliable is it (on different time frames).
2. Correct entry on end of retracement. Using OB/OS levels is one way, but how reliable is it.
Few ideas to consider :
- Delayed Entry :
- option 1 : Instead of entering once RSI is above/below OB/OS levels, we delay the entry until we spot RSI divergence in the direction of the main trend
- option 2 : Instead of entering once RSI is above/below OB/OS levels,we delay the entry until RSI is out of OB/OS levels in the direction of the main trend
- Main Trend Identification:
- This is a big issue, and might require multi-time frame analysis.
No guts, no glory