OPEN-SOURCE SCRIPT
Trading Pro with Kama Hariss 369
Indicators used in strategy are 20 EMA, KAMA, RSI and DMI/ADX and RVOL.
Buy signal activates when price closes above kama and kama is above 20 ema. RSI greater than 55, D+>D- and ADX>20. Kama is upward slopping.
Sell signal activates when price closes below kama and kama is below 20 ema. RSI <45, D+<D- and ADX<20 and kama is downward slopping.
Indicators all about:
20 EMA- Acts as dynamic support and resistance
KAMA- (Kaufman Adaptive Moving Average): Trend Direction + Smoothness
Measures trend direction (up/down)
Measures trend quality (smooth vs choppy)
Filters flat / sideways markets
KAMA answers:
➡ Is the market trending or flat?
➡ Is price moving smoothly?
➡ Is price above or below trend?
In nutshell it filters out market volatility and trend very quickly. Kama becomes flat when market is volatile. One should not take trade while kama is flat.
DMI/ADX = Trend Strength + Directional Power
+DI vs –DI → who is winning (buyers/sellers)
ADX → how strong the trend is
ADX answers:
➡ Is the trend strong enough to trade?
➡ Is there directional pressure behind the move?
RSI —Relative Strength Index - It is a Momentum Oscillator
RSI detects:
Momentum shift
Overbought/oversold conditions
Speed of price change
Micro-level power shifts
RVOL: Relative Volume - the most important part of price move.
Finally, ATR based Stop loss breaks the conflict of mind about both SL or TP. The ideal way of TP (Target Price) is one and half or two times of SL(Stop Loss). However, one can trail with ATR based SL or 20 EMA.
The script is backtested. One can backtest before taking trade with strategy.
Buy signal activates when price closes above kama and kama is above 20 ema. RSI greater than 55, D+>D- and ADX>20. Kama is upward slopping.
Sell signal activates when price closes below kama and kama is below 20 ema. RSI <45, D+<D- and ADX<20 and kama is downward slopping.
Indicators all about:
20 EMA- Acts as dynamic support and resistance
KAMA- (Kaufman Adaptive Moving Average): Trend Direction + Smoothness
Measures trend direction (up/down)
Measures trend quality (smooth vs choppy)
Filters flat / sideways markets
KAMA answers:
➡ Is the market trending or flat?
➡ Is price moving smoothly?
➡ Is price above or below trend?
In nutshell it filters out market volatility and trend very quickly. Kama becomes flat when market is volatile. One should not take trade while kama is flat.
DMI/ADX = Trend Strength + Directional Power
+DI vs –DI → who is winning (buyers/sellers)
ADX → how strong the trend is
ADX answers:
➡ Is the trend strong enough to trade?
➡ Is there directional pressure behind the move?
RSI —Relative Strength Index - It is a Momentum Oscillator
RSI detects:
Momentum shift
Overbought/oversold conditions
Speed of price change
Micro-level power shifts
RVOL: Relative Volume - the most important part of price move.
Finally, ATR based Stop loss breaks the conflict of mind about both SL or TP. The ideal way of TP (Target Price) is one and half or two times of SL(Stop Loss). However, one can trail with ATR based SL or 20 EMA.
The script is backtested. One can backtest before taking trade with strategy.
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