Discussing the strategy VECTORIAL DAX (M5)
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Good evening fifi743
Very interesting you include resistence week & daily.
It’s a concept, although different, I have been working too! It focus on the big lines (from my old strategy) and if it passes it let’s it run a bit till a small bounce.
Especially if you remove the trailing stop and use breakeven & the biglines it has good results. Then to top it off you can included a bigger trailing stop & profit target to reduce missed opportunities but that’s a small difference.
This is my developed code for profit taking.
123456789101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960if enablebp thenif not onmarket or ((longonmarket and shortonmarket[1]) or (longonmarket[1] and shortonmarket)) thenBLmaxprice1=0BLminprice1=closeBLexitL=0BLexitS=0endifif onmarket then// correction on orderprice for caculating linesif longonmarket<>longonmarket[1] or shortonmarket<>shortonmarket[1] thenfocusprice=orderprice+(Factor/Divider)endifCurrentPrice = round(focusprice)AboveLevel0 = CurrentPrice mod MPmodStartLevel = CurrentPrice - AboveLevel0Level10Up = StartLevel + (1*Factor)Levell0Down = StartLevel - (1*Factor)adaptlevel = (StartLevel/100)*dtlcloseLevel10Up= Level10Up - (adaptlevel/(underlaying/100))*pointsizecloseLevell0Down= Levell0Down+(adaptlevel/(underlaying/100))*pointsizeif longonmarket thenif close > closeLevel10Up thenBLexitL=1endifendifif shortonmarket thenif close < closeLevell0Down thenBLexitS=1endifendifBLmaxprice1=max(BLmaxprice1,low)BLminprice1=min(BLminprice1,high)if BLexitL thenif high < BLmaxprice1 and close[1] < open[1] and close[2] < open[2] thensell at marketendifendifif BLexitS thenif low > BLminprice1 and close[1] > open[1] and close[2] > open[2] thenexitshort at marketendifendifendif//graph BLexitL//graph BLexitS//graph BLmaxprice1//graph BLminprice1//graphonprice closeLevel10Up//graphonprice closeLevell0Down//graphonprice StartLevel coloured(121,141,35,255) as "StartLevel"endif12345// big line exitdtl = 0.25 // % distance to lineFactor = 200 //MPmod = 100 //Divider= 2 //A trailing stop often surrenders profit, 0.3-0.5% of the maximum gain so I searched for an alternative to secure profit where’s it’s likely to bounce.
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good-morning Paul,
I was thinking about a cycle indicator
example
when the price is between S2 and S3 there is a great chance of being bullish and when it is between R2 and R3 to be bearish
I put on the chart the supports and resistances weekly and daily, and I observe the behavior of the price
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