I discovered this mechanical trading system titled "This Algo Strategy Has Only 3 rules and 62% Win Rate".
I coded the trading system on Tradingview...and now I am introducing it to you guys. I modified the system so that it has both buy & sell signals. I've tested it repeatedly in different markets on TV including stocks, currency pairs, bitcoin, and commodities...and it works!
A buy signal is generated whenever the current close is below the previous 7-day low and the current close is above the 200 period moving average. A sell signal is generated whenever the current close is above the previous 7-day high and the current close is below the 200 period moving average.
The system also has a 2-ATR stop loss which I coded.
This system is unique in that it has both trend-following and reversal elements in it. The system trades short-term reversals while obeying the long-term trend. Essentially, you are buying the dips of bullish trends! & selling at the peaks of bearish trends!
@racer8 its a good tool, was checking the backtesting results, wondering if we could increase the risk reward ratio, currently highest loss value is greater than the highest profit value, the net profit is only railing on the volume of profit trade, point is the RR gets better too, net profit would spike.
ghussain77
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You are my next favourite guy...this is amazing man..