Working our POW script for this idea.
This morning sees an alert on our EURNZD 30M strategy.
Trade label shows all details.
Green lines are TP and purple lines are SL.
Previous trades can be seen on chart also.
______________________________________________________________________________
What is our POW reversal script?
Quite simply the script is a reversal strategy coded to identify reversal points in an trading instrument.
The script can be used on any instrument and time frame.
Our script simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and TP values.
This is a mechanical rules based trading system which can be automated through third parties software and services.
The script is based on a combination of indicators with the main ingredient being RSI .
The user using the script can see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
You'll know upon changing a setting in the script if that change will work or not on the instrument being traded as we have coded in a built in strategy tester.
Often an overlooked feature of TradingView's pine code the strategy tester saves hours of time not having to manually back test a strategy.
The instant data from the built in tester also instantly instils confidence on how we plan to go trade the markets.
Having the built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
All of the above means we are working to a rules based approach to trading for our entry, exit and risk management.
Any subjectivity and emotions are removed we simply follow and execute the already tested strategy.
Thanks for looking
Darren
This morning sees an alert on our EURNZD 30M strategy.
Trade label shows all details.
Green lines are TP and purple lines are SL.
Previous trades can be seen on chart also.
______________________________________________________________________________
What is our POW reversal script?
Quite simply the script is a reversal strategy coded to identify reversal points in an trading instrument.
The script can be used on any instrument and time frame.
Our script simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and TP values.
This is a mechanical rules based trading system which can be automated through third parties software and services.
The script is based on a combination of indicators with the main ingredient being RSI .
The user using the script can see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
You'll know upon changing a setting in the script if that change will work or not on the instrument being traded as we have coded in a built in strategy tester.
Often an overlooked feature of TradingView's pine code the strategy tester saves hours of time not having to manually back test a strategy.
The instant data from the built in tester also instantly instils confidence on how we plan to go trade the markets.
Having the built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
All of the above means we are working to a rules based approach to trading for our entry, exit and risk management.
Any subjectivity and emotions are removed we simply follow and execute the already tested strategy.
Thanks for looking
Darren
