Daylight Trading Strategy

Quoting pedrobhs

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Daylight Tradingview Version: https://www.tradingview.com/script/p...pbfx-Daylight/ https://www.tradingview.com/script/v...fx-Williams-R/ Description: This is the bundle of the indicators used by the amazing LauraT over at FF using her *new* method call Daylight Trading Strategy, just like her previous strategy, this one is even more minimalist and rule-based trend following / continuation of trend, more information on her forum thread. FEATURES: - 2 Smoothed Simple Moving Average applied to a default Williams %R...

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Quoting LauraT

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Here's a trade I'm currently in. The first two arrows are potential entry points if you were awake. The third arrow is my entry, which I took soon after I got to my trading desk. {image}

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Quoting BlueBranch

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You're probably very bussy. I put in a bunch of orders and there is probably some kind of reason why some of them work out better then others. I could change-up the checklists based on your remarks so that we all could benefit from it. {image}{image}

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Quoting BlackNapkins

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{image} first attempt

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Quoting SlownSteadyy

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First of all, thank you so much for sharing your knowledge and expertise. Could you please be kind enough to clarify the following? The entry signal (marked by a vertical line on the chart) is at 14:00. Is it ok to enter at any of the retracement candles(marked by arrows) that followed? Given that, during the period the said retracement candles were formed, MAs do not cross, nor the MAs in the sub-window slope in the opposite direction) {image}

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Quoting LauraT

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{quote} Hi, Yes, perfectly fine to enter on those candles. In fact, it's often better to enter after a retracement (as long as other conditions still valid) as you will be getting in at a much better price.

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Quoting LauraT

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{quote} Apologies, wasn't at my desk for a few hours. There are various things I consider when deciding whether to take an entry but these don't necessarily mean I avoid all the bad trades and take all the good ones Sometimes the perfect setup will present itself and then will not work out. That's trading. I'll go into more detail about this later but, for now, here are some initial ideas of things to be wary of: 1. Be careful when entering where price has already moved quite far from the green line. Chances are high for a retracement. Better...

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Quoting BlueBranch

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{quote} Sure, no need to apologize. Us guys just like us-some checklists. So we could make it like this? {image} {file}

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Quoting BlueBranch

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Hey Laura, Is it so that either the sub-window lines or smma lines may briefly weave once and the other cleary bounces off? In other words the Smma’s shortly weave together and %R clearly bounces-off each other or vice versa. Could you say the lines shortly compress to each other and after they flatten-out you got an expansion, is that a fair statement? Like most of these examples both bounces clearly of each other but it can also work when one of the two shortly weave together: {image}

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Quoting LauraT

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{quote} Hi, Yes, compression and expansion is fair summary. The reason I often don't exit when the green and red lines cross is that the sub-window lines only converge/compress and don't fully cross.

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