Scalper Helper System

22. Juni 2021

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Description
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Scalper Helper System combines a series of trade strategies which have been learned and honed in the Jim of All Trades channel.
Paixy has contributed candlestick combination rules, Jonas has shared his deep understanding of Stochastic.
Jim himself has taught clearly on the merits of RSI.

This system attempts to formulate all the notes and rules I have made over the past months.
The system searches for 10 - 15 rules which are divided into bullets and bombs. Bombs relate to momentum, so these signals may not be pinpoint accurate, but they are more often leading to bigger moves.

This initial version is released mainly only to the JOAT community to help continue the development of the idea and to help find
continued improvements.

Special thanks to FiendishFeather for his strategy work, (check out his work to learn how to apply any trading strategy to his back testing harness), and the date filtering snippet and the tip to show this option at the top.

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The strategy decisions are based on the following general rules:
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BULLETs are hint to the idea of firing a small sized position into the market, BOMBs are hints to go all in - however this does not mean proper risk management should be forgotten.

Without risk management this and any strategy will lead to failure.
Without risk management this and any strategy will lead to failure.
Without risk management this and any strategy will lead to failure.
Without risk management this and any strategy will lead to failure.

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Bullet1 uses the value of the stochastic and checks for buy/sell cross over on 5m, 8m and 13m chart.
These values should be calculated on a ratio basis ideally.

Bullet2 measures divergence between the printed Stochastic signals.

Bullet3 has been decommissioned.

Bullet4 is an RSI divergence and value indicator.

Bullet5 has been decommissioned.

Bullet6 uses the history of the stochastic buy and sell signals

Bullet7 uses the Scalper Helper Trends for entries by attempting to see how the overall trend is changing. More refinement is needed here.

Bullet8 uses the Scalper Helper Trends on multiple timeframes for entries.

Bullet9 strict buy/sell signals from Stochastic RSI

Bomb1 relies on the Fast, Medium and Slow MA's being correctly lined up as well as the Stochastic, this hints at a more imminent move and so the strategy suggests a quicker entry.

Bomb2 relies on the Fast, Medium and Slow MA's NOT being correctly lined up as well as the Stochastic, and therefore has the luxury of suggesting Limit orders near the local high/low.

Bomb3 looks for two or more Stochastics signals in the same direction and then performs a divergence calculation.

Bomb4 looks a change in the Stochastics signals direction and then performs a divergence calculation.


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Configuration settings:
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Users can chose to show mainly buy and/or sell signals and can select a level of strictness. Enabling strict rules will force a multi timeframe comparison of Stochastic analysis.

Users can try different levels for long and short targets for profit and stop loss. This is important because the market does not behave the same going up as it does going down.

The RSI conditional check makes the strategy more selective. This discernment can be applied to bullets or bombs in order to validate entry and exits.

During the bull run and perhaps even in ranging markets, the RSI overbought levels is usually 70-80, but in the bear market we are seeing in Crypto now, a value of 60 is more useful. Try for yourself to see what works for you and feedback in the comments.

An additional indicator, Scalper Helper Trends is recommended to get a quick view on the trend condition (rally, base, down) by viewing the MACD from multiple time frames. Further research is required to know which larger timeframes work best here.
For the 15min chart, 15m, 30m, 45m, 60m, 120m, 240m, 360m, 960m would work well. Note it is not possible to go higher than 1000 at this time.

Whether you use the Scalper Helper trends or not for your own visual confirmation, it is possible to allow this indicator to attempt to read it for you. More research is required to best model the reading of this. For now, it will simply measure the gradient of the number of up versus down colors.

The system can also find entries off the Scalper Helper Trends - but really this, by design is not the best use of Scalper Helper Trends. Although you may prove me wrong so the option is given for you to find buy/sells with your own testing.

Users can chose to use some engulfing candle arrangements to trigger exits and define the length of the 200MA and decide if this should play a part in the filtering of the signals. Similarly, a check can be made to ensure that the first two candles after a signal are behaving as we would expect with the "Wait for 2 closing in the direction of the signal" option. This has a lot of value on the 1min chart.

When Revenge trade is set to true you may re-enter a trade in the same direction as the last one when the last one was stopped out, otherwise you would only be looking for trades in the other direction. We all should not revenge trade, and indeed I have only seen a few cases when it has increased the profitability, however this option remains for now.

The flip opens a new trade in the reverse direction when a signal is given to close a trade, but does not apply to scenarios where stop losses or take profit closed the trade.