This is my interpretation of Steven Primo's pull back strategy indicator # 9. Seems to work on any time frame or combination high and low. I prefer to use it with the regular fractals and a 20 or 50 SMA and 5 period RSI. I would prefer to have it only paint up arrows when bars close above the SMA and vise versa with down arrows. If someone can help me correct that please contact me.
Thanks, 1776er.
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This is my interpretation of Steven Primo's pull back strategy indicator # 9. Seems to work on any time frame or combination high and low. I prefer to use it with the regular fractals and a 20 or 50 SMA and 5 period RSI . I would prefer to have it only paint up arrows when bars close above the SMA and vise versa with down arrows. If someone can help me correct that please contact me.
Thanks, 1776er.
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Added an EMA to the mix.
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Renamed it Fractal PB strategy. I think its a better title. I have added another EMA and two more SMAs for a more complete strategy.
@MansaMusaTrader, Hello fellow trader. I would watch some of SP's videos on #9 on youtube. Better explanation than I can give. When I posted this it was just an interpretation. I was hoping for more feed back but so far none.A more accurate interpretation would be using a 50SMA and 9EMA or 15EMA. The 9EMA and 15EMA relates to his PET-D indicator as far as speed fast or slow. A up sloping 50SMA along with 9 or 15 EMA and bar or candle that closes below the EMA and above 50SMA is considered the pull back #9 strategy to go long and vise versa for going short. It does not use fractals, but is just a candle that closes between the two averages almost like its trapped. Used in the proper context regarding slop of moving averages is key. What I posted seems to be more of a fractal pull back as a heeds up and a crossing of moving averages to go long or short. The RSI is more or less an aid, above 50 strong up below strong down pressure. I hope this helps.
1776er,
DaviG
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You mean you want it to show those green fractals whenever price close is above SMA. Simple if statement or tuple should achieve that.
1776er
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@DaviG, not sure I understand your question. It is not a red-light green light system. A fractal arrow up or down is just a heads up to change of direction. So, needs to be taken only in context of direction. A simple example would be 20 sma above a 200 sma 20 sma rising and 1 to 3 bars closing above 20 sma. I plan to post a better example chart soon as I can find time to post it. I hope this helps.
1776er
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@DaviG, Sorry for the late reply but I was never notified of your question.