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Super Simple System for Scalping

  • #141
  • Apr 14, 2022 10:02am Apr 14, 2022 10:02am
Quoting joycometh
{quote} please can you share your CAO (14,100) indicator with us
just click on the paper clip at the top of the page--everything is there
  • #142
  • Apr 14, 2022 10:29am Apr 14, 2022 10:29am
Quoting tienvip123be
{quote} Overall, FB0X eliminates a lot of risk. However, I am a bit short-tempered and hasty, and regret missing out on profits. I will refrain from that. hehe
trading is mostly mental so not being hasty and shot tempered will save yah a lot of pain haha
  • #143
  • Apr 14, 2022 11:02am Apr 14, 2022 11:02am
APE continuing that streak
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  • #144
  • Edited 11:18am Apr 14, 2022 11:03am | Edited 11:18am
BTCUSD 5M

candle moved below EMA and 20 SMA (BB middle)
EMA moved below 20 SMA (BB middle)
both COAs have bearish increase near zero line
COA (14,100) below zero line
volumn increase
price broke below support (green arrow)

entry at arrow: open of candle after break (or a bit higher at top wick near level of rev. support)
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  • #145
  • Apr 14, 2022 11:20am Apr 14, 2022 11:20am
ETHUSD 5 Min

same idea
possible entry at retest after the break (red arrow)
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  • #146
  • Apr 14, 2022 12:56pm Apr 14, 2022 12:56pm
No entry for me! Volume is relatively weak, touching BB, And no FB0X
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  • #147
  • Apr 14, 2022 12:59pm Apr 14, 2022 12:59pm
I’d make this a rule.

if the cross happens on the second or third bar of the AO - VOLUME must have a signify increase. Otherwise, I would really just look for FB0Xs!
  • #148
  • Apr 14, 2022 1:03pm Apr 14, 2022 1:03pm
USDJPY 15M

candle moved above EMA and 20 SMA (BB middle)
EMA moved above 20 SMA (BB middle)
both COAs have bullish increase near zero line
volumn increase
price broke above resistance (red arrow)

move came after today's news
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  • #149
  • Edited 5:30pm Apr 14, 2022 3:30pm | Edited 5:30pm
Decent results.
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  • #150
  • Edited Apr 15, 2022 8:40am Apr 14, 2022 5:39pm | Edited Apr 15, 2022 8:40am
Quoting 80050
Decent results. {image}
Algorithmically, the strategy will perform a lot worse. Lots of nuances for securing the highest profitability.

also, exiting hasn't really ben optimized for algos. That's going to determine alot of winners and losers. If you take profit asap, profitability factor 2 folds.

I wouldn't put too much stock into these. We don't know your conditions.
  • #151
  • Apr 14, 2022 5:51pm Apr 14, 2022 5:51pm
Quoting 80050
Decent results. {image}
Interesting chart. What indicators/settings are you using? Do you have a template you could share?
  • #152
  • Apr 14, 2022 8:02pm Apr 14, 2022 8:02pm
Also experimenting with removing the outer Bollinger Bands for a different mean reversion logic that's similar to Bollinger bands but stronger. In the current system I use, the outer bands act as a weak confirmation often providing little value.

Replacing the bands with an even stronger reversion indicator I've been able to time the exits and entries better.

What I'm using now is called a "Zig Zag Cloud" - This is Bollinger Band built on top of Zigzags instead of regular price + something more.

Indicator presents 7 lines and cloud around it. This can be used to visualize how low or high price is with respect to its past movement.

 

  1. Middle line is moving average of last N zigzag pivots
  2. Lines adjacent to moving average are also moving averages. But, they are made of only pivot highs and pivot lows. Means, line above moving average is pivot high moving average and line below moving average is pivot low moving average.

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  • #153
  • Apr 14, 2022 8:07pm Apr 14, 2022 8:07pm
ZigZag Channel now makes it so we know what to expect when entering the trade. New zones could create an area of resistance or support. You can adjust your TP accordingly
  • #154
  • Apr 15, 2022 8:00am Apr 15, 2022 8:00am
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  • #155
  • Apr 15, 2022 8:13am Apr 15, 2022 8:13am
I was very skeptical but seems like a good system after back testing.

Does anyone have an alert system (it doesn't matter tradingview or metatrader, and I can't code ;-))?

And thanks Burnestgeyer, nice to see your trades with this system!
  • #156
  • Apr 15, 2022 8:25am Apr 15, 2022 8:25am
For those looking for more setups.

2B0X is really good when everything is an A+ setup.

1) Volume is strong and increasing
2) Price has some distance from closest zone
3) Zoom Out looks good - overall trend in our favor.
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  • #157
  • Apr 15, 2022 9:57am Apr 15, 2022 9:57am
Quoting Jojo
I was very skeptical but seems like a good system after back testing. Does anyone have an alert system (it doesn't matter tradingview or metatrader, and I can't code ;-))? And thanks Burnestgeyer, nice to see your trades with this system!

You're welcome brother. Here's the strategy coded into a signal. Don't use exit.

https://www.tradingview.com/script/s...tegy-w-Alerts/
  • #158
  • Apr 15, 2022 11:20am Apr 15, 2022 11:20am
Quoting burnestgeyer
{quote} You're welcome brother. Here's the strategy coded into a signal. Don't use exit. https://www.tradingview.com/script/s...tegy-w-Alerts/

Awesome! Thank you very much!!!
  • #159
  • Apr 15, 2022 12:40pm Apr 15, 2022 12:40pm
I agree great an simple strategy, I find that it is better to take profits at the overextension of the BB, as well I have had some reversal after the red crosses, i have found entering on the open of the candle after the cross.
Thoughts?
  • #160
  • Apr 15, 2022 1:05pm Apr 15, 2022 1:05pm
Quoting Antny
I agree great an simple strategy, I find that it is better to take profits at the overextension of the BB, as well I have had some reversal after the red crosses, i have found entering on the open of the candle after the cross. Thoughts?
You should always be entering on the candle after the cross. You need to wait for the cross candle to completely print.

problem with exiting on Bb over extension is you leave a lot of profit on the table, and slot of entries start on the band it’s self.

this is why I switched to zig zag channel for over extensions
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