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Hi nix and thank you for this very good system. In the rules it says "If a new TP signal appears and has the same value as the previously set TP value
we EXIT the trade". A new TP signal means a new opposite arrow? How can the new TP have the same value as the previous TP?
..."If a new TP signal appears and has the same value as the previously set TP value
we EXIT the trade". A new TP signal means a new opposite arrow? How can the new TP have the same value as the previous TP?
Sorry for not being too precise. This rule means of course that if a new opposite arrow comes up and the high/low of it's painted bar is equal to the high of the previous opposite arrow's painted bar's high/low (i.e. double top or bottom formation) we close the trade. The situation would look something like this:
A - first high which resembles TP (which is 1 pip above the high of this bar)
B - second high which also resembles TP (which is 1 pip above the high of this bar) NOTE that high of A and B are the same.
C - this bar's open caused B to show up and since we have not hit TP we exit instead of waiting till we hit the SL value.
Yellow candles are high/low ranges (painted by the ScalperSignal indicator). I use these to sent the TP / SL respectively according to the rules provided some posts back.
Currently I'm testing a modified version of the strategy which has been working out well for some time. The modification uses the TP and SL settings according to the previous rules with some exceptions, but I'll get to that later.
Linear Mode
