HOW-TO: Wolfe Strategy [Trendoscope]

Dec 28, 2022

Just made this short video to explain the concepts of Wolfe Strategy which I recently published.

Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules.

• Entry price based on breakout
  
• No moving target - using flat target.
  
• Entry is done based on risk reward
  
• Not time bound
  
• Intelligently decides whether to place stop order or limit order
  

Few possible future improvements

• Make bidirectional trades possible
  
• Better filters to chose long and short trades or when to trade
  
• Lot can be improved on Wolfe scanner to identify more patterns
  
• Exit strategy - can introduce optional trailing
  

Thanks for listening. Hope you enjoyed and learnt something from this :)