(binned per thread starter’s request) reversionX: A Rule-Based

One last setup for the day.. lets see how it plays out..

BTW this is breakeven ... price reacted very strongly at daily open.. one way you would have exit is at daily open but its a break even for me

1. -1R
2. -1R
3. +0R
4. -1R
Ovr: -3R

Tough day, especially considering I missed a nice setup on XAUUSD which wouldve give +2R.

We go again tomorrow. One thing I noticed with trades 1 and 4 is that price reached the opposite Bollinger Band before reversing back to hit the stop loss. Especially in the first trade, you also got opposite signals, and yes, I guess you were waiting for confirmation. Plus, the bands contracted soon after entry, reducing volatility.
My takeaway: if a trade reaches 1R and price then touches the opposite Bollinger Band, moving stops to breakeven makes sense. But doing that too early isn’t ideal. Just something to notice — these are only observations, not conclusions based on just 2–3 trades.

Moved to break even after the opposite signal conformation

Another setup with the tight stop... I like the price action especially the clean bullish candle

Price went up to 1.5R..better to go breakeven. since its already 3 PM

I made a MT4 signal indicator for this strategy. Please let me know if anybody is interested in participating developing it!!

The confluences is made as switch filters. They should all be set to true.

I will be busy having a life today and most of tomorrow. Would anybody help testing if it works as intended? You just need to have it on the charts you are watching and whenever you see a trade - according to the rules in post #1 - then check if you get an arrow and an alert. That's all.

Let me know if it works - or if something does not work. Plese upload a screenshot. It works with the filters off, I have seen the alerts. But it will take time to test if all filters are right and I don't have that time right now.

The indicator use stochRSI and it shall be located in your Indicator folder.

By the way, if MT4 people would like to have the Bollinger/Keltner Squeeze filter, I happended to code such one some time ago.

It paints the Bollinger and it paints the Keltner. However it does not paint the Bollinger center line. I can make that if requested.
If you don't want the indicator to paint the Bollinger and/or Keltner, just set those colours to None.

The squeezes are shown as blocks when Keltner is outside the bollinger. I painted them Yellow at this screenshot.

And while we have the lid off - I also made a MultiTimeframe Squeeze indicator. This is not part of this strategy, but some might like it for other purposes.

It works the same way using Bolling and Keltner, but it does not paint anything, it just show the squeeze situation at those timeframes.

It is ment to be part of a top/down analysis.

Managed to take two trades today, both on CHFJPY. One loss and one win.

1. -1R
2. -1R. In a strong bullish trend, maybe taking a short here wasn't the best
3. -1R

True...

Nice setup ... lets see how it plays out

That didn't work out...

Missed this beautiful setup....

I took this on 5 min with 15 min confirmation.

Had a tough day yesterday with 3 losses and 1 win. With the above win back to +1 now.

This sucks

In post #44 reshee explain how the TTM Squeeze works. This is a TV indicator which does not exist on MT4/5. But I have something in my "indi drawer".

The colored dots indicate the compression level of the Bollinger Bands relative to the Keltner Channels:
• Black dots = low compression (squeeze forming)
• Red dots = medium compression
• Orange dots = high compression
• Green dots = squeeze fired (Bollinger Bands moved outside Keltner Channels)

I made the Squeeze BBk some time ago. When it shows the small bricks on the chart, then there is a squeeze ongoing. See post #550. When the bricks disapear, the Bollinger exceeded the Keltner and that is exactly like the Green dots at the TV indicator. So now we have the green dot from TTM Squeeze.

The histogram on TTM Squeeze shows price momentum—its direction and strength:
• Cyan bars = positive, increasing momentum
• Blue bars = positive, decreasing momentum
• Red bars = negative, increasing momentum
• Yellow bars = negative, decreasing momentum

That is something different. Not the squeeze. Well, long ago I made the Bollinger Momentum indicator. It comes in handy here. Set the momentum parameters to True, then you get this:



As I do not know the setting of the TTM Squeeze, it is not possible to advise on the settings. But here is how my BollingerMomentum works:
The MA_Length parameter is the number of bars the indicator looks back. We have to play around with this parameter.

When the bars is below the yellow line, then the present status is, that the Bollinger gap is smaller than the average of the last MA_Length number of bars.
A red colour tell, that the gap is narrowing. A dark red colour tell, that the gap is widening (momentum is present), but still smaller than the average og the last bars.

When the bars exceed the yellow line, then the Bollinger gap is larger than the last MA_Length number of bars. A green bar tell, that the gap is narrowing. A dark green bar tell, that the gap is widening (momentum is present), so here we have a momentum that is still increasing.

NOTE!!!!
The bars tells NOTHING about the direction of the trend, and the trend direction can shift without the momentum showing this. In that case, the momentum is intact but in the new direction.

So these two indicators that I have made earlier, should be able to help MT4 traders in this strategy. We just have to find the best value for the MA_Length parameter.

The histogram on TTM Squeeze shows price momentum—its direction and strength:

Does anybody know how this works? I would like to code it!

We have the direction of the momentum from the MACD. My BollingerMomentum indicator shows momentum, but not the direction of the momentum. And the whole idea is, that SUDDENTLY the direction of the momentum shifts in order to go towards the MEAN. The MACD shows this by change in the direction of the bars. But if the TTM Squeeze has another miracle function, then I would like to code it.

Any ideas ???