Discussion of article "Momentum Pinball trading strategy"

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New article Momentum Pinball trading strategy has been published:

In this article, we continue to consider writing the code to trading systems described in a book by Linda B. Raschke and Laurence A. Connors “Street Smarts: High Probability Short-Term Trading Strategies”. This time we study Momentum Pinball system: there is described creation of two indicators, trade robot and signal block on it.

The rules for exiting the market are not clearly defined in the book: authors say about the use of trailing, about closing on the next morning and about exit higher then the first trading day High.

The rules for sell entries are similar - LBR/RSI should be within overbought area (higher than 70), a pending order should be placed at the Low of the first hourly bar.


Author: Alexander Puzanov

 
Hello,
unfortunately the translation did not work completely, because all the settings and notifications are written in Kirill characters, please change this to English.



 
MaPi7475 Pittner:
Hello,
unfortunately the translation didn't quite work, because all the settings and notifications are written in Kirill characters, please change this to English.
  1. You can use the comments here in the article, but these are certainly not all.
  2. The Notepad++ has a plug-in "Translate", which works with MyMemory-Engine and Russian => German (or English), I have already done this several times!
  3. I also wrote a language highlighting for NotePad++ (for MT4), which I could also send you...
 
Carl Schreiber:
  1. You can use the comments here in the article, but these are certainly not all of them.
  2. The Notepad++ has a plug-in "Translate", which works with MyMemory-Engine and Russian => German (or English), I have already done this several times!
  3. I have also written a language highlighting for NotePad++ (for MT4), I could also send it to you...
Hello Carl,
Thanks for the tip, I will try it with Notepad.

 
I quote you: "In this article we will continue programming the trading strategies described in the section of the book by L. Raschke and L. Connors, devoted to testing the range boundaries by price". See the reference book. Testing is the process of finding errors. So what is an error, continuation of price movement at the range boundary or price return from the range boundary?
 

It is better to change the reference book to one closer to stock exchange topics. Here testing means testing properties, in the context of this section of the book - testing properties of range boundaries by applying to them price movements of different strength. Depending on the ratio of these properties (the value of price change and resistance of the range boundaries), the price can either break through the levels or break away from them

As for the essence of your question - you can try to profit from the breakout or pullback, but this particular strategy is rather focused on getting profit from the very process of testing the level. At first it is determined which boundary (upper or lower) the price will hit today, and then you try to profit from the movement in the direction of this boundary. It does not matter whether it will be a breakout or a rebound, the main thing is that there should be a movement in the direction of the selected boundary

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