Hello
Anyone offer an opinion? I have had this coded in Pine script and using trading view. The strategy is called Todd's strategy 1.6
My strategy is simple how to code it seems to be difficult??
1. For a buy trade, Price closes above 20 EMA (candle 1)
2. Candle 2 opens at close of #1 and closes below close of #1
3. The trend for the previous 10 periods must between 25 and 35 degrees.
4. Entry is at open of next candle (#3)
The theory is that after a one period (usually daily) reversal, price starts moving in the direction of predominant trend. Manually, I have success with this.
There is the ability to set stop loss and Take profit. It is set as a percentage and seems very convoluted. I just discovered that ticks can be used to close a trade (just need to x10). What will work better?
For me the trend is very important and should be primary filter. There are some decent results for 10-12 pairs on 1 hr, 4 hr and daily time frames.
This is my first attempt at automating and would be grateful for somebody to point out any mistakes I have made.
Thank you.
Anyone offer an opinion? I have had this coded in Pine script and using trading view. The strategy is called Todd's strategy 1.6
My strategy is simple how to code it seems to be difficult??
1. For a buy trade, Price closes above 20 EMA (candle 1)
2. Candle 2 opens at close of #1 and closes below close of #1
3. The trend for the previous 10 periods must between 25 and 35 degrees.
4. Entry is at open of next candle (#3)
The theory is that after a one period (usually daily) reversal, price starts moving in the direction of predominant trend. Manually, I have success with this.
There is the ability to set stop loss and Take profit. It is set as a percentage and seems very convoluted. I just discovered that ticks can be used to close a trade (just need to x10). What will work better?
For me the trend is very important and should be primary filter. There are some decent results for 10-12 pairs on 1 hr, 4 hr and daily time frames.
This is my first attempt at automating and would be grateful for somebody to point out any mistakes I have made.
Thank you.