This mash up of previously published indicators now turned into a Strategy reflects a very effective Gold 1 min Scalping Strategy. When utilised with two other Indicators that I cannot combine. These two other indicators are
- Future Trend Channel by Chart Prime - Machine Learning: Lorentzian Classification: JDEHorty
The imbedded scripts within this indicator are
- Chandelier Exit by Everget - STK a better MACD by Shayankm - Supertrend by Everget
- EMA is the stock indicator provided by TradingView.
The settings should be a followed
Chandelier Exit
ATR Length: 1 ATR Multiplier: 1 Extremums: on
EMA: 150
STC
Length: 5 FastLength: 30 Slow: Length: 50
EMA and STC should be applied as filters.
Lorentzian the settings should be as standard. Confirmation of a Buy/Sell signal should be by the Future Trend Channel by ChartPrime if Bullish Market is being shown on the chart by Future Trend Channel then only Buys should be placed. The reverse should be applied for Sells. Final Confirmation should be from the Lorentzian Classification. Both in candle colour and the candle classification number. If the classification for Buys should be equal or greater than 6 and the candle colour is green then the trade can be placed. For Sells if the classification should be equal of less than -6 and the candle colour should be red then the Sell trade can be placed.
This Strategy has been implemented to use SL and TP in the number of pips required for XAUUSD. I am using a target of TP 8-9 pis and SL at 25 pips.