fhenry0331

Simple Trender

Originates from:

I was reading some Impulse Trading literature by A. Elder.. In it, someone named Kerry Lovvorn proposed "An End of Day Trend Following System" for someone lazy.
Originally it is just price closing above an 8 ema (low) for long. Exit when price closes below an 8 ema (low). The opposite for a short position.
Conditions: Buy when price closed below ema (low) for two bars or more, then closes above. Opposite for a short position. I do not follow this condition. Though it may help with whipsaw.

My condition is when price closes above the 26 ema (low) (works the best for me) I place orders above the initial crossing bars high. Opposite for lows.
I look for stocks that are low in price to go long on. I want the run from 2's to 15's
I look for stocks that are mid-teens/20's in price to go short on. I want the run from 20's to 2's
I look for stock with news and earnings that are already running (up or down) to play the pullback.
These conditions can easily be scanned for on thinkorswim

From first glance, the system looks like CMsling shotsystem. Although, I plagiarized some parts of the codes, because I am inept when it comes to that shit, it differs as it is not a moving average crossover system.
It is a price crossing over concept. A moving average VWAP is used for best entries on pullbacks.


Purpose:

--To catch the majority of a trend/wave/run.
--To identify pullback areas to go long or short while in midst of trend. To catch pullbacks off news and earning runners.
--To catch the initial start of trend with clear rules to enter
--Clear rules to exit


Issues

--possibilities of getting ninja sliced the fuck up. Can be mitigated by entering stocks with decent average volume . And also only going long above 200 ema and short below it. ADX won't work, at the initial start of the trend it will show not trending. Can look at blow off volume at the bottom followed by increase in buying for long and vice versa for short.
--Can give some huge gains away through gap ups or gap downs from news or earnings during trend. However, can get huge gain on gaps from news or earning. Nature of the game.
--Need some brass balls and a supply of pepto to stomach through some of the pullbacks. Gut wrenching seeing big gains dwindle. But they all even out at the end, you hope. (see NBEV and IGC , and CRON and others. shit don't go in straight lines, homie)

Pros

--It's simple and easy. Overall, you profit
--works with any security

Cons

--It can be stressful.
--does not work well on lower time frames. Do not recommend going below 15 minutes
--Possibility of working on 5 minutes with a time frame breakout strategy (15,30 min).

Couple it with LazyBear "Weis Wave Volume" indicator. Works well for pullback entries.

Enjoy. Ride some waves.




Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?

Kommentare

plz add buy and sell text on indicator
Antworten
Hello @fhenry0331

What didn't understand the second half of this sentence about breakout strategy. Is it after the arrow appears on 5mins wait for it to break the high on 15 or 30mins?

"Possibility of working on 5 minutes with a time frame breakout strategy (15,30 min). "

Thanks
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fhenry0331 maverickwayne
@maverickwayne, no, a breakout above or below 5 min candle and so on
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I look for stocks that are low in price to go long on. I want the run from 2's to 15's...
PLease could you explain the meaning of "I want the run from 2's to 15's".. I did not understand....
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@gmmm, it mean catch a stock low and catch a big portion of its move
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