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EduardoMattje

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EduardoMattje Updated   
Average True Range (ATR) Historical Volatility Candlestick Analysis outsidebar outsideday outsidereversal meanreversion
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averagetruerange historicalvolatility candlestick outsidebar outsideday outsidereversal meanreversion
This strategy is taken from Perry Kaufman's book "Trading System and Methods".

You can enter on the direction of the candle, or opposite to it. I find that the opposite tends to yield better results in volatile assets, allowing a better reward to risk ratio. There is no stop loss in this strategy, only a fixed take profit and a time limitation.
Release Notes:
Added the ability to choose the direction of the trades.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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