Long at 11847 on the 01/09/20
Profit Zone triggered, exit at market on open at 11942.
P/L:= +0.8%
-----------------------------------------------------------------------------------------------------------------------------------------------
Legend:
DC(10) Up := Donchian Channels upper band (10 length).
DC(4) Low := Donchian Channels lower band (4 length).
IntStp(7%) := Initial Stop Loss set at 7% below entry price.
PFZone := Exit/profit taking indicator (green diamond).
Entry Rules:
1. Place a Buy Stop at the DC(10) Up Price.
2. If buy stop is filled, place the IntStp(7%).
3. However, if orders are not filled, cancel orders at the end of the trading session at 24:00 UTC+0.
Exit Rules:
1. At 00:00 UTC+0, if the DC(4) Low is higher then the IntStp(7%), than adjust stop loss to the DC(4) Low price.
2. However, If IntStp(7%) is above the DC(4) Low, then use the IntStp(7%).
3. If the PFZone has been triggered then exit at open on market at 00:00 UTC+0.
Notes:
The Profit Zone is a proprietary indicator designed to improve the performance as an alternative exit rule.
However, the strategy is a stand-alone system and does not require the profit zone indicator.
Backtest results without the PFZone indicator:
tinyurl.com/yxcdm6yq
tinyurl.com/y5m8nffo
Profit Zone triggered, exit at market on open at 11942.
P/L:= +0.8%
-----------------------------------------------------------------------------------------------------------------------------------------------
Legend:
DC(10) Up := Donchian Channels upper band (10 length).
DC(4) Low := Donchian Channels lower band (4 length).
IntStp(7%) := Initial Stop Loss set at 7% below entry price.
PFZone := Exit/profit taking indicator (green diamond).
Entry Rules:
1. Place a Buy Stop at the DC(10) Up Price.
2. If buy stop is filled, place the IntStp(7%).
3. However, if orders are not filled, cancel orders at the end of the trading session at 24:00 UTC+0.
Exit Rules:
1. At 00:00 UTC+0, if the DC(4) Low is higher then the IntStp(7%), than adjust stop loss to the DC(4) Low price.
2. However, If IntStp(7%) is above the DC(4) Low, then use the IntStp(7%).
3. If the PFZone has been triggered then exit at open on market at 00:00 UTC+0.
Notes:
The Profit Zone is a proprietary indicator designed to improve the performance as an alternative exit rule.
However, the strategy is a stand-alone system and does not require the profit zone indicator.
Backtest results without the PFZone indicator:
tinyurl.com/yxcdm6yq
tinyurl.com/y5m8nffo
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.