Lavoro terminato
Specifiche
1. This is essentially a trend trading system using indicators. Chart timeframe is 4HR.
Indicators in use:
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Bill Williams Fractals
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EMA x 4 (72, 24, 12, 8), Close
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CCI (14)
2. Short entry conditions, simultaneously (on same bar ‘signal bar’):
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CCI < -150
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EMA 8 < 12 < 24
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Bar closes below 72 EMA
3. Entry is on the opening of the bar following the signal bar - the ‘entry bar’.
4. Stop loss is set at the high of the most recent bar displaying a Bill Williams Fractal (‘Stop bar’), minus 20%.
So Stop loss is 20% below the high of stop bar.
So initial stop algorithm is:
(High of stop bar) – (0.2 *((High of stop bar) – (Entry bar open)))
5. Stop is trailed to the high of each subsequent bar displaying a Bill Williams Fractal above it, upon completion. That is, every time a new BWF appears above a bar, the stop is moved equal to the high of that bar.
6. Long trades are the same, in reverse.
7. Can have multiple trades open at the same time. An open trade does not prevent another being entered.
See picture for long trade example.
Key:
A: Signal Bar. This is the bar which confirms all the entry conditions using CCI, EMA 72, 24, 12, 8
B: This is the entry bar. Enter on the open of this bar if conditions are met above.
C: This is most recent bar with a Bill Williams Fractal below it.
D: This is where the initial stop loss is placed based on formula (Low of stop bar) + (0.2 *((Entry bar open) – (Low of stop bar)))
E: This is the first point which the stop loss is trailed to. Low of this bar, as it has a Bill Williams Fractal below it.
F: Next trailing stop
G: Next trailing stop
H: Next trailing stop
I: Next trailing stop