I personally think there're no systems that can capture everything 100%. Whether one SOH when
- ADX < 25 (red ADX label)
- Chop warning on the Top Left
- ADX thick orange
- ADX thick green above DM lines (End of Trend)
- Red DMplus
is his/her choice.
I remember Perry's tip to check if ADX thick orange line starts hooking up when most indicators align. If yes (and ADX is very close to 25), one may trade. How to keep the second contract in a trade esp during pullback? It really depends on your SL cushion and risk/reward expectation. For my 2-contract sim trades (4 Range TF), most of the second contract got stopped out as I adjusted the initial 6-tick SL to BE after a 4-tick move (first PT @4). After modifying it to -2 ticks, did stay in a trade longer yet had more -2 ticks losing trades for the second contract. I've switched to 15-RangeAlt timeframe last Wed and am doing 1-contract trades now, ie PT/SL @10/13 and no BE/trail. You can tell I'm still experimenting to find the combo that will meet my needs.
Since Perry is the creator of the thread incl sharing his amazing set ups with us, I'll strongly suggest your knocking at his door for advice/tips.
thank you for your words of encouragement
and good luck to you as well
I'd be interested to know how you go with the longer time frame with your range bars when you have finished trialling it.
Like you I have been having problems with the 2nd contract being stopped out on a pullback at B/E
I am experimenting with a bigger trailling stop to give a bit more room for pullbacks that seem to be an inevatble part of any trend
hi ,which indicator is plotting the up/down arrow,if available link please,other thing is their arrows plotting is as two averages crosses,they are using something else,anybody knows what logic are they using?
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I'd like to clarify again that I used the strategy to enhance my understanding on Method 1. For example, the lime (Long) and orange (Short) arrows helped my visualizing Long and Short Set Up bars. Then I counted 5 bars (incl the Set Up one) to double-check the entry point which should be either 1 tick above or below the HH/LL. I only sim-ran the strategy for a few hours in total not counting the short tests to resolve the compilation myth.
I have no intention to sim-run the strategy or trade it live. For me, it's an education tool and I'm done with it. I have been manually spotting the signals and am currently sim-trading TF (15-RangeAlt) with PT/SL @10/13.
I'm very grateful for Perry's sharing and guidance. My warmest apologies to Perry for taking up his thread's "space" in addressing some automation issues. I'm also very sorry for the unexpected compilation issues that may have caused grievances on some of you!
That's why I emphasized many times that it's BETA LOL! Please bear in mind that it's written by one (me) who does not know the language.
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The following 3 users say Thank You to wgreenie for this post:
i think its a great way what you showed here : how to use the strategy-coding to make things completly clear.
if you have a system in mind + you try to bring it on paper with every nuances, its worth to try it with coding it as an indicator / strategy
- even if you dont want to automate it.
you can make it more visual + see if you have defined it clear enaugh ...... + not having some bad "thoughts" in it.
i do it the same way + i think its worth a lot for learning / education / diving really deep into it
- cause its not only in your mind (wich can fake you sometimes) but it has to be defined 100% clearly!
congrats, good job !
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Thank you for your comments. I absolutely agree that there should be a different thread for people who want to probe the idea of a strategy based on my method. Because of the simplicity of this method, this thread should be left for clarifications, and perhaps certain enhancement that I may bring to the table.