System is very simple, filtered by other indicators, as follows:
Filters:
Signal:
Rules of entry:
by: PIPology
- Timeframe: 30M
- 8 EMA (applied to Close) & 13 EMA (applied to Open)
- Trend lines & Regression channels to help spotting intraday breakouts
Filters:
- MACD (13, 21, 8)
- 8 %R (levels -80 and -20 visible) over 13 RSI (applied to Open)
The 8%R is the "Williams Percent Range" indicator. Add it to your chart and it will open a separate window. The parameters for it are a period of 8, (and add levels of 80 & 20 if they're not defaulted).
Then drag & drop the "RSI" (Relative Strength Index) indicator to the Williams Percent indicator window so that it overlays it (not in it's own window). The RSI period is changed to 13 (14 is default).
Then drag & drop the "RSI" (Relative Strength Index) indicator to the Williams Percent indicator window so that it overlays it (not in it's own window). The RSI period is changed to 13 (14 is default).
Signal:
- EMAs cross
- MACD goes above or bellow 0 level
- Spot a break of a trendline or regression chan
Rules of entry:
- Always at the close of the candle.
- For long: candles must be above the 2 EMAs (for short: bellow)
- Entry candle must break or be above/bellow the trendline or regression channel.
- %R must be bellow -20 for long and above -80 for short
- Entry must be placed at maximum 4 MACD bars since MACD turned up or down.
by: PIPology