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I would like to know please if it is be possible to create a strategy that enters automatically in position when breaking out a trendline previously drawn on a chart. Perhaps this strategy already exists somewhere on NexusFi (formerly BMT) but I can't find it...
A guy of NinjaTrader created an indicator that produces a sound when a trendline is touched by the price in achart. The file is attached, perhaps the code could help?
Thanks a lot for your answer!
Raphael
Can you help answer these questions from other members on NexusFi?
Of course it is. NT already contains an AutoTrendLine indicator. But first, you'll have to define a breakout.
The question is not "can you do it", the question is, "will it be profitable" ? I (that is, we) can program a strategy to do almost anything (which of which, in terms of profitability, is an exercise in managing frustration ).
Thanks a lot for your answer. In fact I am searching a strategy that enters in a position when the price bar go through the trendline I've previously drawn... The simple fact that the price goes through the trendline by 1-2 ticks is enough, I am not waiting the close of the bar...
Could you please tell me where I can find this autotrendline indicator? I can not find it in NT...
Breakline charts sure give great results in retro testing. Problem is in real world trading, when the bar changes from blue/red, the price has already moved so it is impossible to buy/sell and the hi/low of two bars ago.
I think the only way to trade it, is go short/long after the bar prints, and the next bar is setting up.
Sorry to hijack an old threat, but I did't want to start yet another thread here.
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