Investing - Weekly EMA's mapped to Daily Chart — Strategy by BlueSkyBreakout
By BlueSkyBreakout
Performance Metrics
- Author: BlueSkyBreakout
- Symbol: COINBASE:LTCUSD
- Timeframe: 1 day
- Net P&L: +366.65 USD (+0.37%)
- Win Rate: 50.0%
- Profit Factor: 183.619
- Max Drawdown: 1.94 USD (0.00%)
- Total Trades: 6
- Sharpe Ratio: −3.344
Description
When there isn't enough time in your day to day-trade, yet you want to utilise all the technical analysis skills you have... why not make a long term investing or swing trading indicator set to help you along the way! So I did....When it comes to long term investing and swing trading, I often find the weekly 12/26/52 EMA's do a great job in capturing the main market swings from bull to bear.However, I like to use the Daily chart to see the candle patterns and shapes with more detail and divergences often show up better on the daily chart.So I have decided to combine the two!I have basically taken the EMA 12/26/52 from the weekly and transferred them over to the daily (mathematically they are not exact, but for me they are close enough).I have also developed a simple scale in / scale out strategy for using these exponential moving averages. It isn't as simple as buying in on each signal, however I use my own special strategy to take advantage of the alerts.Enjoy!