NOTE: I do not own this strategy. I have simply added a couple of my ideas that have worked well.
Highly Profitable Strategy
Parabolic SAR
Bollinger Bands
Acceleration Oscillator (accel oscillator, acceleration/deceleration oscillator)
Awesome Oscillator
My Method
Long Entry
PSAR is on the bottom
Awesome Oscillator is green
Acceleration Oscillator is green
Candle is green
Opening price of candle is above bollinger band moving average
Short Entry
PSAR is on the top
Awesome Oscillator is red
Acceleration Oscillator is red
Candle is red
Opening price of candle is below bollinger band moving average
Note: Use bollinger bands to determine if volatility is expanding. I personally use the ADX weighted average with a length of 8 and only submit a trade (long or short)
if the ADX reads above 40. DO NOT trade on ranges, this will destroy your account. Use any indicator you like to determine if the market is trending or not.
I use a trailing stop to exit all trades. I find the sum of the differences between opening and closing price (+ or - candles) of the previous 4 candles and
then divide by 12 and use that number as my trailing stop in pips.
I usually use this setup on a day chart. I make sure all criteria for a trade is met on the day chart and then i go to the 15 minute chart and make sure the same
criteria is met as well. I have not tested this method with shorter term charts but plan on doing so soon. I will also begin testing this setup with heikin ashi candles. Will update soon.
Highly Profitable Strategy
Parabolic SAR
Bollinger Bands
Acceleration Oscillator (accel oscillator, acceleration/deceleration oscillator)
Awesome Oscillator
My Method
Long Entry
PSAR is on the bottom
Awesome Oscillator is green
Acceleration Oscillator is green
Candle is green
Opening price of candle is above bollinger band moving average
Short Entry
PSAR is on the top
Awesome Oscillator is red
Acceleration Oscillator is red
Candle is red
Opening price of candle is below bollinger band moving average
Note: Use bollinger bands to determine if volatility is expanding. I personally use the ADX weighted average with a length of 8 and only submit a trade (long or short)
if the ADX reads above 40. DO NOT trade on ranges, this will destroy your account. Use any indicator you like to determine if the market is trending or not.
I use a trailing stop to exit all trades. I find the sum of the differences between opening and closing price (+ or - candles) of the previous 4 candles and
then divide by 12 and use that number as my trailing stop in pips.
I usually use this setup on a day chart. I make sure all criteria for a trade is met on the day chart and then i go to the 15 minute chart and make sure the same
criteria is met as well. I have not tested this method with shorter term charts but plan on doing so soon. I will also begin testing this setup with heikin ashi candles. Will update soon.