The signal comes from the "RailRoad" candlestick pattern breaking a support/resistance level, which typically indicates price will respect that level. How consistent is the pattern? Hard to say considering candlestick patterns vary wildly by % change between different securities.
I didn't implement any kind of "fuzzy logic" for this strategy, though it would benefit greatly from it. There are many instances where a fixed% simply doesn't catch a winning trade from a "bounce" off a S/R level.
Backtesting this now, but it seems really helpful. Playing around with settings to see what works best...
rajnishonline
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con you provide version 4 or 5
subhan109
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Thanks alot
Embit0one
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I use this quite some time now and i freakin love it, Thank you. My Settings are: 0.1 0.05 3
I use it on the 5 minutes chart for NASDAQ, S&P, DAX. Shorting at major resistance levels :$
DasanC
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@runescapeyttanic, Great to hear! I'm glad you're getting good results trading with it. I'll try out that strategy this week as I trade the NQ and SP as well.