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You still haven't answered the question of what target & stop you use. It's hard for me to do tests because I think "this one's good for 1 pt" "this one could have gotten 2" but without at least a preset stop it's hypothetical.
If the stop is 1 pt then there would be a lot of stop outs. If the stop is more than 1 pt then the reward 1 risk 2 would be unfavorable.
Can you help answer these questions from other members on NexusFi?
I had noticed that in my previous post of the 6 range bar chart for 9/11 that it showed a trade when the consumer sentiment report was released.....my bad.
So, I wondered how a 7 range bar chart looked. One tick makes a big difference.Basically 3 trades all winners.
Ok I see what you're doing now. As soon as the colors line up you enter *IF* you're not directly under resistance (for long). If you are, you wait for it to break 1 tick above.
This makes more sense as you get a head start in and that can save you from getting stopped out.
Ok, I'm going to test it now. Just had my first ES losing trade today, went long but according to your colors I entered 1 bar too late.
Cunparis
I think the 20/50 thing is the slope of the ma in degrees. There are two different colors for up and down. 20/50 will just give a up slope trigger faster than 30/60 because first trigger at 20 instead of 30. You could use 3/6. Either way you are talking about slope up. You just have to decide what amount of slope defines uptrend to you. I think different instruments seem to react differently to this.
I am finding the slower the chart the faster the indicator....that works and conversely the faster the chart the slower the indicator...that works. Each chart and market must be optimized.
I looked at the code, I think you're right. I thought 45 was the center but it appears 0 is. and 20/50 are both for long and it negates them for shorts (-20 / -50). So 20/50 is ok.
I took it on a break of support. Some trades are just so obvious! Unfortunately I didn't change my target and exited with only 1 pt. I guess if you get in early you can drag your target out a few more points such that when the colors line up your traget is 1 pt away so it's as if you had just entered. that would have given a few more points.
good job on your trade. I got 1 point but lost 1.5 pts going long before that.
I think if the EMA 20 was blue and then turned yellow and the faster MA's have turned back to blue, it's not that risky to enter early because the 20 ema lags the faster one and it'll most likely turn blue with the shorter ones.