by foreveryoung » Sun Mar 01, 2020 8:11 am
Dear Apprentice
I am sorry for taking so long to reply back, I have been away for a while.
Going through the forum, I have found out that automated trading has features that I did not think of, therefore, I am going to present the strategy here exactly as Alexander Elder described it.It would be great should you turn it in an automated trading system. Strategy goes as follows:
When at the end of the turn "of the lower time frame"
1. In higher time frame MACD histogram current bar > previous bar
AND in lower time frame
2. Force Index < 0
, then, in lower time frame, create *a long* entry order at the top of the signal candle (i.e. the candle that gave force index < 0).
If order is not triggered till the end of the next turn, cancel it, and create a new *long* entry order at the top of this new candle. Keep doing this till an entry order is triggered or at higher time frame MACD histogram current bar < previous bar, where strategy must reverse.
If an order is triggered, wait for the end of the turn and place a stop loss at the bottom of this candle, or the previous candle (whichever is lower).
Take profit at the end of the turn in the lower time frame where Force index becomes again < 0.
OR
Take profit when in higher time frame MACD histogram current bar < previous bar
Vice versa for short.
Regards
Nik
Last edited by
foreveryoung on Mon Mar 02, 2020 8:15 pm, edited 2 times in total.