Just a simple strategy based on dynamic zones by Allenster. Still a work in progress.
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// This is a Trend Following strategy. Strategy Logic as follows - // Very simple MA and EMA crossover for Entry (Short or Long) // Re-entry is on EMA crossover // Dynamic Zones are used for Stop Loss exit - Dynamic Zone is simply a % of "X" period price range. I use 128 periods for checking range. // Dynamic Zones script is taken from allanster // I have found that it gives good results (at least on-paper results) on 3 hours timeframe or Daily timeframes. // I have kept certain default parameters like quantity, trade type long/short, etc since they were convinient for the kind of stocks I was checking. // One can change many of these parameters to optimise the results. // There are still some changes to be done to script as follows - //12Apr20 // 1. If on Long Entry, the entry point is below the dynamic zone line, then the stop loss is calculated above the entry point. I will fix it one of these days. // 2. Additional re-entry logic or take-profit logic in case the stock runs much ahead // 3. I need to write a Alerts script that would have 10s of stocks built into one script. // 4. Any other feedback // Please note I am not a programmer by profession. I am just trying to code a few simple trading ideas for my personal use // So, any suggestions / help in changing / optimizing code is most welcome.
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Added the link to Dynamic Zones Script in comments. It's a beautiful, neat and clean script. I use it quite frequently during trading. I find it somewhat similar to %Williams, but visually much more intuitive. Please check it as