Hello Apprentice,
One more point I would like to add:
I have noticed that the MTF TS tends to exit the positions ONLY when the reverse criteria is met i.e. buy position is closed only when the sell signal is generated (and vice versa). This is actually good in many ways as it avoids the chop but also gives back lots of gains and time till the reverse signal is generated.
Is it possible / feasible to modify the strategy along with the above modifications requests (trendfilter + breakout), so that the exit of the trade is made when
one 'special' TS (among the four and of higher TF) goes reverse (and not have to wait for all the four filters to reverse in same direction)
I hope I am not confusing you. But I do know I am asking quite a bit here but thats becoz I think this strategy has some good potential.
Thanks a lot,
Falkor
Ps:
For instance:- TS1,15m=Buy, TS2,15m=Buy, TS3,15m=Buy, SpecialTS4,4H=Buy then Strategy buys.
Later> TS1,15m=Buy, TS2,15m=Buy, TS3,15m=
Sell, SpecialTS4,4H=
Sell [This would remain a buy-position since the "Sell" is not generated but we will lose on pips becoz major trend has changed. Therefore we should ideally close or exit the position. However, the reverse position is (and should be) initiated only when all the TS's are back in the same direction.)
In other words, the trade is always in the direction Special (larger timeframe) TS)
I hope I am not confusing
. I am excited about this, hope I can see this soon. Thanks.