I have been working on a very simple trend following system. It requires no indicators..... only a trend line. Some functions are going to be automated to address my weak points. I am in the process of getting someone to write it now.
Basic strategy:
Trendline placed and named (something simple BBB for buy SSS for sell)Necessary to identify what should be followed.
trade opened automatically in direction of trendline once price has moved 5 points above trend line in a BUY or 5 points below line if a SELL. This provides a degree of safety should the trend not go as planned.
Stop loss automatically set at 5 points below entry for a BUY, and 5 points above for a SELL. Again, a safety point.
Trade will stay active until trendline is broken by X number of points (configurable) or if the stop loss is triggered.
Trailing stops not needed. It's already handled in the functions.
An audible alert when trade is closed.
Can be used for times you can stay and play or longer trends when you cannot.
Basic strategy:
Trendline placed and named (something simple BBB for buy SSS for sell)Necessary to identify what should be followed.
trade opened automatically in direction of trendline once price has moved 5 points above trend line in a BUY or 5 points below line if a SELL. This provides a degree of safety should the trend not go as planned.
Stop loss automatically set at 5 points below entry for a BUY, and 5 points above for a SELL. Again, a safety point.
Trade will stay active until trendline is broken by X number of points (configurable) or if the stop loss is triggered.
Trailing stops not needed. It's already handled in the functions.
An audible alert when trade is closed.
Can be used for times you can stay and play or longer trends when you cannot.
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