Quote:
Originally Posted by topofwld
Please post your rules for entry triggers and basic exit strategy. then once we understand it we can attempt to modify and improve it???  |
To tell you the truth, I was counting on others to spot the entry signals and maybe come up with better rules than I came up with, but OK, I'll post my entry and exit points:
The following image illustrates the system:
SHORT ENTRY
If
Price trigger == (-1) and the candle above the trigger
opens BELOW the orange volatility pivot you enter SHORT.
This condition is enclosed in the box labeled A on the illustration above.
LONG ENTRY
If
Price trigger == (1) and the candle above the trigger
opens ABOVE the orange volatility pivot you enter LONG.
This condition is enclosed in the box labeled B,C & D on the illustration above.
EXIT RULES
I have spotted 2 (or actually 3) EXIT scenarios:
- Exit at the opposite Price Trigger Signal (see box B)
- Trail your STOP LOSS using the value of the Volatility Pivot indicator (see box C where the LOW wick of the last candle in the box crosses the Volatility Pivot)
- Exit when a candle closes with an opposite nonlagdot (for example: if we go LONG we wait for a candle to close with a RED nonlagdot, if we go SHORT we wait for a closed candle with a BLUE nonlagdot
Please experiment and let us know what you think. I'm also looking for a reasonable initial STOP LOSS value, any suggestions?