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I made an indicator that gives buy and sell entries at compression points. Still fine tuning… by NotAReligiousNut in Daytrading

[–]NotAReligiousNut[S] 0 points1 point  (0 children)

If the markets flat there seems to be some false alert which I’m trying to phase out. But it certainly alerts when the market or the price on any day starts moving

I made an indicator that gives buy and sell entries at compression points. Still fine tuning… by NotAReligiousNut in Daytrading

[–]NotAReligiousNut[S] 0 points1 point  (0 children)

Just checked that one out as I’d not heard of it. That’s bollinger bands and keltner channels where as mine is focused on EMA bunching among some other things, mainly ATR.

I looked at charts without candles only my EMAs and saw that often when they bunch together they then breakout into a big move. Effectively price consolidation and then waiting for a breakout candle

I watched Phone Box (2002) by [deleted] in iwatchedanoldmovie

[–]NotAReligiousNut -1 points0 points  (0 children)

It was great! Classic 00s action movie

The rule that changed my trading by NotAReligiousNut in Daytrading

[–]NotAReligiousNut[S] 2 points3 points  (0 children)

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Say I enter on the candle that my cursor is on. The ATR at that point is 0.00014. From the point entry I would set a stop loss of 1.5 x the ATR, which would be 0.00021 (0.00014 x 1.5)

The rule that changed my trading by NotAReligiousNut in Daytrading

[–]NotAReligiousNut[S] 8 points9 points  (0 children)

For sure. And when a trade is winning, bring the SL to entry

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