TrianglePoint strategy by eemani123
By eemani123
Performance Metrics
- Author: eemani123
- Symbol: AMEX:SPY
- Timeframe: 1 hour
- Net P&L: +807.75 USD (+8.08%)
- Win Rate: 64.2%
- Profit Factor: 4.383
- Max Drawdown: 119.85 USD (1.17%)
- Total Trades: 81
- Sharpe Ratio: 0.028
Description
Sep 26, 2020This is trend following strategy ... when price is trading well above 200 ema and forms a triangle (based on number of bars defined)BUY====when fast ema > 200 emacheck for triangle of last N bars (default set to 9)EXIT======when fast ema crosses down middle term emaif price reaches above 5% of buy , it changes the color to purple. You can close any time or wait for above signal. STOP LOSS=======stop loss default value set to 5%Note: No triangle shown on the chart. I will find out how to add the lines to the chart.Warning=========For the use of educational purposes onlySep 27, 2020Release NotesI have added Triangle drawings to the chart.Also I have noticed that when position is taken LONG, mostly price reaches the half of the height of the Triangle. You can lock profits there or raise the stop loss ....if the price goes south (downwards) half of the height of the triangle , you can wind up the position rather than waiting for defined 5% loss