Golden Triangle Strategy by eemani123
By eemani123
Performance Metrics
- Author: eemani123
- Symbol: AMEX:SPY
- Timeframe: 1 hour
- Net P&L: +10,630.50 USD (+104.46%)
- Win Rate: 100.0%
- Max Drawdown: 0 USD (0.00%)
- Total Trades: 38
- Sharpe Ratio: 0.472
Description
Sep 28, 2020Golden Triangle strategy setup is a variation of the buy-the-dip strategy, by Charlotte Hudgin.You can find the detailed explanation here by Thomas N. Bulkowski thepatternsite.com/GoldenTriangle.htmlBUY===1. price should be trading above sma502. when it touches sma50 first time , check the starting rallypoint of where it initiated3. from the above point to current close , see if you have white space , then draw the triangle4. then check for volume confirmation ( current volume should be greater than last 4 ) --- I have slightly changed this to fit into hourly strategy by adding condition close>vwapEXIT====1. Exit when close crossing down sma50 with at least 2% profit (slightly modified original condition)StopLoss========2. stop loss is set to 6%Warning=======For the use of educational purposes onlySep 30, 2020Release Notes1. I have added "Show All Triangles" parameter --- by default this is turned OFF. what does this mean if a LONG position is taken , next possible Trinagle is not drawn on the chart. If you want to see all Triangles irrespective current LONG position , please check it ON2. Exit Rule has been modified --- Earlier exit rule was close crossing down sma50 with at least 2% profit. Now it has been modified to EXIT when VWAP is crossing down sma50 . This modification has increased the performance , profit factor and decreased number of Bars 3. I have also noticed that for growth stocks/FAANG , increasing the stop loss to 8% will keep you in trade to achieve better profit factor. I tested it for AMZN and AAPL on hourly chartNov 2, 2020Release Notes> Trailing stops has been added ... strategy uses this for Long entries , only when Trend is Up > Risk capital parameter has been added ... to find out the quantity of units to be purchased based on stop loss units> initial stop loss line has been added ... purple color line>comments added in entry and exit ... shows the stop loss value on entry and shows the profit point at exit> Background color is changed , if the trade is in long positionOct 18, 2021Release Notesmax_bars_back error fixed