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For those of you who have probably seen my monica leaping around this site from thread to thread, I'm the kind of trader who likes action and the way I resolve this, (like many of you, I'm sure), is to try as many strategies as my brain, eyes and reflexes allow...
That said, I have been testing this particular strategy since I saw it posted at the end of last month. Yes, we all know that snakes and LSMA and zigzag repaint. However, I would like to make the following suggestions:
Use higher timeframes only!
Ditch snake
Keep LSMA to help identify trend
Use fractals (as dznmrd suggests, fractals help to identify true signals as they don't repaint)
Keep original zigzag to help determine highs and lows for stop losses only.
Now add NonLagZigZag. Despite the name it is laggy, but on higher timeframes, this doesn't matter. It should really have been called NoRepaintZZ as I have yet to see it repaint even on lower time frames and I believe that is what its author intended. Like I say, useless on lower timeframes due to lag, but H1 and higher, its good.
Next add MTF HAS bars. Use the colour changes as an indicator to either enter or exit a trade in the direction of where the next NonLagZigZag will be. For the most part, colour changes appear accurate in direction of colour, but use nonlagzigzag direction to confirm or overide if necessary.
Trade as dznmrd prescribes, but use fractal caps on zigzag to confirm closing out and entry of trade, rather than zigzag pointer. Finally WAIT FOR CANDLE TIME TO CLOSE. You will miss out on potential profit, but thats better than to lose money.
I've been forward testing this strategy and take at least 50-100 pips per trade depending on currency pair and fear of loss.
Linear Mode
