Small Scalp for BTCUSD to Downside

I'm testing a new indicator that I was coding all night.
It triggered a signal using an Extreme Opposite Stoch strategy to enter a short. There is some confluence as it appears to be a potential countertrend trade as well.
If it plays out, it will be a 2.5 RR trade.

It's funny as I was looking for long entries as it bounced off a key level until my signal triggered. Let's see if this script works as intended or not.

Really happy to have a chance to test this on a low-risk BTC trade before I start using it on Forex pairs next week.

Trade fermée: ordre d’arrêt atteint:

Just a quick update. Unfortunately, it didn't go as expected. My stop-loss was hit and looks like it may retrace for a little longer.

Actually, I was expecting this after the first hour or so. From what I saw from my backtesting, it usually starts continuation within one or 2 candles after the signal is triggered.

Eventually, I will do some backtesting on Bitcoin and see if I have the same probabilities with this entry as the Forex pairs I trade.

Commentaire:

With the chart.