Trend magic indicator
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Trend magic indicator uses cci and atr to create buy and sell in the market . this a a line that changes its color when any of the conditions occur ie buy and sell . I find the indicator given you a bit of a better entry when you change the parameters to CCI=20, ATR=100, ATR MULTIPLIER= 2.
Set up entry just above the indicatror afetr a retracement. Set your stop loss a 20 cents to a dollar (depending on share size) below your entry. Be ready to enter a new position above indicator again if you get stopped out.
to exit, set your stop loss a few cents below indicator. Prices tend to rebound right around the parameters I gave you, so be ready to increase your share size if the price drops below the indicator but it doesnt touch your stop loss or if price makes a u turn and heads up. You will have to be extremely patient witht his srategy and be willing to leave behind a chunk of money on the table. Thats the hardest part. once the trend gets underway, however, it doesnt touch the indicator for several candles. Hope this helps. Hard to implement the strategy on choppy market. Main thing is to protect your capital in case the price goes against you. It might do that a few time before the trend get underway. For intraday use VWAP indicator to know whether the market is bullish or bearish in a given session. Hope this helps.
Set up entry just above the indicatror afetr a retracement. Set your stop loss a 20 cents to a dollar (depending on share size) below your entry. Be ready to enter a new position above indicator again if you get stopped out.
to exit, set your stop loss a few cents below indicator. Prices tend to rebound right around the parameters I gave you, so be ready to increase your share size if the price drops below the indicator but it doesnt touch your stop loss or if price makes a u turn and heads up. You will have to be extremely patient witht his srategy and be willing to leave behind a chunk of money on the table. Thats the hardest part. once the trend gets underway, however, it doesnt touch the indicator for several candles. Hope this helps. Hard to implement the strategy on choppy market. Main thing is to protect your capital in case the price goes against you. It might do that a few time before the trend get underway. For intraday use VWAP indicator to know whether the market is bullish or bearish in a given session. Hope this helps.
