Karma Turning Point
This is an improved "Karma Turn Point" identifier specifically designed to scalp easily around the edges. You may choose to use this with other S/R lines for better confirmed entry or better yet used on mean-reversion setups like Bollinger band for a better sniper like entry.
For RH and GL indicator (high low) wait for the bar to complete forming ( Because the bar will repaint as it forms but strictly stops once the trigger (labeled bar) bar is complete). Enter in the reversal direction only if the next bar breaks the low of the trigger bar for down move and breaks the high for an up move.
For TU and TD indicator (Turn point indicator) you can take an aggressive entry on the bar while it's forming as it wouldn't repaint once it paints once.
Make sure to put in a stop loss as the other end of the bar. For RH and GL you will know the risk before you enter. For TU and TD depending upon the size of the bar you may choose to ignore if the bar size (up to the point it formed) is big enough for your risk.
Now size your trades appropriately and risk only what you can loose. Paper trade and make sure this works well for your style.
Now go trade and make some $$!!
For RH and GL indicator (high low) wait for the bar to complete forming ( Because the bar will repaint as it forms but strictly stops once the trigger (labeled bar) bar is complete). Enter in the reversal direction only if the next bar breaks the low of the trigger bar for down move and breaks the high for an up move.
For TU and TD indicator (Turn point indicator) you can take an aggressive entry on the bar while it's forming as it wouldn't repaint once it paints once.
Make sure to put in a stop loss as the other end of the bar. For RH and GL you will know the risk before you enter. For TU and TD depending upon the size of the bar you may choose to ignore if the bar size (up to the point it formed) is big enough for your risk.
Now size your trades appropriately and risk only what you can loose. Paper trade and make sure this works well for your style.
Now go trade and make some $$!!
發布通知:
Updated 2-- See my previous version for commentary!
發布通知:
Added an option Bottom Tail and Shooting star -- but it's not very appealing