SEE attachment for illustration
LONGS: Enter buy stop order long after resistance pivot bar B formed on condition that the current high of current bar X is more than 10pips below high of bar B and that high of pivot bar B is higher than the last pivot bar A. Order should be 2 lots. 1 contract take profit at 10pips and move stop to break even for second contact and trail at 10 pips. Stop of initial order is at low of entry bar.
If highs of bars (say X) following pivot bar B are not more that 10 pips below high of bar B, then buy stop of bar B high will be entry. The exit will be just like before but the stop loss will be at low of subsequent bars after B but not more than 40 pips.
If stop is triggered enter reverse trade at low of support pivot . for example short stop at bar C .Exit strategy remains same.
Also if trend for pivots has been higher pivots and we get a lower pivot then enter short stop at low of failed pivot with exits as before. For example bar D is a failed higher pivot (meaning trend has reversed) so short at its low.
THE opposite of the above applies for Shorts.
Also if possible allow provision for filter for choppy periods to allow for entry only after:
1.Oscillator slow schocastic 15,3,3 is in same trend and/or
2. Newly formed pivot bar (B) to be at least a certain number of pips above prior pivot bar(A).
LONGS: Enter buy stop order long after resistance pivot bar B formed on condition that the current high of current bar X is more than 10pips below high of bar B and that high of pivot bar B is higher than the last pivot bar A. Order should be 2 lots. 1 contract take profit at 10pips and move stop to break even for second contact and trail at 10 pips. Stop of initial order is at low of entry bar.
If highs of bars (say X) following pivot bar B are not more that 10 pips below high of bar B, then buy stop of bar B high will be entry. The exit will be just like before but the stop loss will be at low of subsequent bars after B but not more than 40 pips.
If stop is triggered enter reverse trade at low of support pivot . for example short stop at bar C .Exit strategy remains same.
Also if trend for pivots has been higher pivots and we get a lower pivot then enter short stop at low of failed pivot with exits as before. For example bar D is a failed higher pivot (meaning trend has reversed) so short at its low.
THE opposite of the above applies for Shorts.
Also if possible allow provision for filter for choppy periods to allow for entry only after:
1.Oscillator slow schocastic 15,3,3 is in same trend and/or
2. Newly formed pivot bar (B) to be at least a certain number of pips above prior pivot bar(A).
Attached Image (click to enlarge)
