this is a modified version of AlphaTrend Strategy with added trailing Stop Loss this is my first script that I have added to tradingview community the trailing SL makes it very effective to lower the losses and can improve the overall return
This Strategy goes long when Sharpe Ratio is > 1 and Alpha against the S&P500 is generated. It exits when conditions break away. en.wikipedia.org(finance). Use on daily or 5min.
USE ON DAILY TIMEFRAME TO DETECT MOMO STOCKS & ETFs AND TRADE THEM This Strategy goes long when Sharpe Ratio is > 1 and Alpha against the S&P500 is generated. It exits when conditions break away. Strategy can be adapted to run intraday, it however needs different (lower) trigger levels. examples to try this on: GER30, NAS100, JPN225, AAPL, IBB, TSLA, etc.