TrianglePoint strategy

Sep 27, 2020

This is trend following strategy ... when price is trading well above 200 ema and forms a triangle (based on number of bars defined)

BUY
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when fast ema > 200 ema
check for triangle of last N bars (default set to 9)

EXIT
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when fast ema crosses down middle term ema

if price reaches above 5% of buy , it changes the color to purple. You can close any time or wait for above signal.


STOP LOSS
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stop loss default value set to 5%

Note: No triangle shown on the chart. I will find out how to add the lines to the chart.


Warning
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For the use of educational purposes only

Sep 28, 2020

Release Notes

I have added Triangle drawings to the chart.

Also I have noticed that when position is taken LONG, mostly price reaches the half of the height of the Triangle. You can lock profits there or raise the stop loss ....

if the price goes south (downwards) half of the height of the triangle , you can wind up the position rather than waiting for defined 5% loss