1 - Apply the 3 period Money Flow Index indicator to the 5 minute chart, using 0 and 100 as our oversold and overbought boundaries 2 - Wait for the MFI to reach overbought levels, that indicates the presence of "big sharks" in the market. Price needs to hold up the first two MFI overbought occurrences of the day to be considered as a bullish entry signal.* 3 - We buy when the MFI = 100 and the next candle is a bullish candle with short wicks. 4 - We place our Stop Loss below the low of the trading day and we Take Profit during the first 60 minutes after taking the trade.
The logic above can be used in a mirrored fashion to take short entries, this is a custom parameter that can be modified from the strategy Inputs panel.
* I'm using a SMA filter to avoid buying when the price is declining. Time frame was better at 15 min according to my test.
wiered. it does not reflect anuything. bar candles disappear completely
illicity
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hey ur script aint working. Add to Chart operation failed, reason: Script could not be translated from: ["Strategy Stop", "Swing Lo/Hi", "ATR Stop"])|E|