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False EMA Whiplashes in ninja trader strategy script


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  #1 (permalink)
archReactor
San Francisco, CA, USA
 
Posts: 7 since Apr 2023
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Hello,
I am developing a simple strategy, where I am taking this simple strategy of reversal candles by Trader Saber and adding a ema crossover and unirenko charts (T = 1, R = 15, O=5) ... With EMA 21 and EMA 50..

So My logic is that if i have a bull reversal signal and ema21 crossabove ema50 its a buy .. and bear reversal signal and ema21 crossbelow ema50, I have a sell.. Its purely to scalp 1 -2 points which is 4-8 ticks... I do put a stop loss at 10 ticks... It does well with extended down moves or upmoves, I am not looking to hit every trade i can find... just be consistent in the ones that do get triggered.

It gives me a buy signal and relatively short time it went up .. where it didnt even give me a chance to hit my 4 tick profit target .How can i tell my strategy to not hit that trade .


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  #2 (permalink)
 TigerStripes   is a Vendor
 
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archReactor View Post
Hello,
I am developing a simple strategy, where I am taking this simple strategy of reversal candles by Trader Saber and adding a ema crossover and unirenko charts (T = 1, R = 15, O=5) ... With EMA 21 and EMA 50..

So My logic is that if i have a bull reversal signal and ema21 crossabove ema50 its a buy .. and bear reversal signal and ema21 crossbelow ema50, I have a sell.. Its purely to scalp 1 -2 points which is 4-8 ticks... I do put a stop loss at 10 ticks... It does well with extended down moves or upmoves, I am not looking to hit every trade i can find... just be consistent in the ones that do get triggered.

It gives me a buy signal and relatively short time it went up .. where it didnt even give me a chance to hit my 4 tick profit target .How can i tell my strategy to not hit that trade .

Add an ATR & current Volume filter. When it is below average Value to entry during entry condition, or use an ATR of a period which is <= ATR[1] saying that the current trend might be increasing but relative strength to the previous bar is consistent. It is also an idea to use a DataSeries to update the ATR/Vol filter(s). Renko is not usually an accurate representation on ATR or Volumes.


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  #3 (permalink)
archReactor
San Francisco, CA, USA
 
Posts: 7 since Apr 2023
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TigerStripes View Post
Add an ATR & current Volume filter. When it is below average Value to entry during entry condition, or use an ATR of a period which is <= ATR[1] saying that the current trend might be increasing but relative strength to the previous bar is consistent. It is also an idea to use a DataSeries to update the ATR/Vol filter(s). Renko is not usually an accurate representation on ATR or Volumes.

Thanks will try it out ...


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Last Updated on April 15, 2023


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