therebel Magic System
Simple programming exercise of the system described by /u/therebel.
Signals MACD crossover on price above and below EMA 200 (blue for longs, red for shorts).
You should wait for the candle to close before considering the signal. And always check the fundamentals.
Risk less than 2% per trade, allow winners to run using a trailing stop.
When the market has proved you wrong exit with out any hesitation. This is key.
Might be useful for someone, but don't take it too seriously. If I might add something, I think a good trailing stop can be the previous candle wick.
Signals MACD crossover on price above and below EMA 200 (blue for longs, red for shorts).
You should wait for the candle to close before considering the signal. And always check the fundamentals.
Risk less than 2% per trade, allow winners to run using a trailing stop.
When the market has proved you wrong exit with out any hesitation. This is key.
Might be useful for someone, but don't take it too seriously. If I might add something, I think a good trailing stop can be the previous candle wick.
// Simple programming exercise as described by therebel
// Signals MACD crossover on price above and below EMA 200
study("therebel Magic System", overlay=true)
movingAverage = ema(close, 200)
color1 = close > movingAverage ? blue : red
[macdLine, signalLine, histLine] = macd(close, 12, 26, 9)
signalUp = macdLine[1] < signalLine[1] and macdLine[0] > signalLine[0] and close > movingAverage
signalDown = macdLine[1] > signalLine[1] and macdLine[0] < signalLine[0] and close < movingAverage
plotshape(signalUp, style=shape.labelup, color=blue)
plotshape(signalDown, style=shape.labeldown, color=red)