I am exploring this indicator. There isn't one on Ninja 6.5 but the 7.0 has it.
It does not give trade signals even for weeks. This is a high win probability method, so far it is looking ok. Just that I am not always there to make the trade, I am thinking of automating this method. Great for those who do not like over trading.
I know you might be asking why 100 ticks stop loss? It is because when the Chaikin goes over 196, there might still be a chance that there is more pull up, though the chance is slim. I might argue that you can place a tighter stop, if it gets you out, re-enter while the Chaikin index is sloping down.
I am open to suggestions for any improvement.
Please know that this is not a trigger happy method, this is a sniper. 1 shot 1 kill.
For those wanting it on ES, set the Chaikin level to 169. Target 16 ticks, Stop 20 ticks.
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No I have not. When I am there, the signal wasn't there to trade, when I wasn't, it appeared. It is constant vigilance. I have not automated this so, there is no automated strategy to try this on a back test let alone a forward test. Metatrader 4 & 5 have a similar indicator. Ninja 6.5 did not have this.
No need for a coded strategy to do a preliminary backtest, just do an initial visual backtest. Load up a chart with as much historical data as you need, then visually scroll forward through the chart, marking up all the signals you see, and if they are a winner or a loser. Once you go through 100 or so signals, then determine the win loss ratio and whether the expectancy is positive. If the results are not good, you may want to decide it the strategy is worth pursuing further or not. That's the way I weed out strategies, and takes very little time to do.