Live Trades

Convergence

Active member
May 6, 2017
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I'm planning to record my live trades beginning this week, so I'm using this post to start figuring out how to use the forum's available tools. I've developed my own trading system and proprietary indicators, which I have named "Proverbs 16:3" to give honor where honor is due.

View attachment 228632

The above screenshot is a Euro-Japan 15-minute chart and the strategy is extremely simple. If an asset is trending north, I enter a long position when price begins to rebound after falling below the floor of the medium violet envelope (click on the chart for a larger version) and I exit when it begins to pull back after breaking through the ceiling. If the asset is bearish, I do just the opposite, entering a short position when price begins to fall after climbing above the envelope's ceiling, and exit when it begins to bounce back after falling through the floor.

These envelopes are unlike any others I've seen and enable me to use historical data to analyze the typical price patterns that develop as a consequence of relationships observed between the trend, average price range and current market structure. As a result, I have no inclination to bother with lower panel indicators such as MACD, RSI, ADX, CCI or Stochastic Oscillators.
Sensible strategy. You using Keltner bands?
 

Convergence

Active member
May 6, 2017
109
8
28
Who ever brought the lord into this will be cursing him by the end
Dunno why it's a well known workable strategy I think Linda Rashke uses something similar but generally on a 4H chart with Keltner bands. It's basically just fading extremes but Will has added the additional proviso of only taking counter trend extremes, a very good idea