New Closing High with MA Filter — Strategy by Katandra
By Katandra
Performance Metrics
- Author: Katandra
- Symbol: ASX:TLX
- Timeframe: 1 day
- Net P&L: +10.29 AUD (+0.00%)
- Win Rate: 50.0%
- Profit Factor: 2.084
- Max Drawdown: 2.74 AUD (0.00%)
- Total Trades: 30
Description
This script is aimed to emulate the trading system of the Peter Castle – Trader as outlined in his web site:easysharetradingsystems.com.au/and his book, “ Mindful Trading using Winning Probability”.He is also author of the book, “The Zen Trader: How Ancient Wisdom Can Help You Master Your Mind and the Markets” and is available in other languages.In essence, you buy on a NEW CLOSING HIGH of the lookback period with default 52 weeks and with the price above the default 5 and 12 EMA. That is, the new closing high is not a rolling closing high where each day sees a new higher close. It is not using the high price either.Sell when the short-term moving average (default 5 EMA) crosses down below the long-term moving average (default 12 EMA).The script allows the use of days instead of weeks (Castle System) lookback and for the use of various types of moving averages (default ema in Castle system) so that backtesting the strategy with optional inputs will allow for optimisation.The strategy is useful in buying on the first bar after a pullback.BUY: Price is making a NEW CLOSING HIGH over the lookback period, and the price is above the short and long moving averages (if selected).SELL: Short moving average crosses down below the long moving average.