Strategy taken directly from Rob Hoffman's award winning strategy. Full credit goes to him
Uses the average angle of the ema over the last 20 bars, in combination with Inventory retracement bars (candles that have retraced at least 45%)
(Please note: the angle calculation default value is calibrated for BTCUSD. There is no way currently to code it to be used across multiple pairs. The price to bar ratio has to be adjusted for other trading pairs. Please research price to bar ratio if unfamiliar)
ATR has been included to set take profit and stop loss.
Separate ATR settings for filtering the size of IRB (can filter out candles which are too large or small)
Red background colour is for when ema is at or below the set -ve angle slope. Green is for positive angle. Default is set at -45 and 45 degrees.
Big thankyou to ZenAndTheArtOfTrading and the following two scripts.
Cosmic Angle - by cosmic_indicators
Rob Hoffman's Inventory Retracement Bar - by ucsgears
Code was borrowed and used directly from these scripts
Uses the average angle of the ema over the last 20 bars, in combination with Inventory retracement bars (candles that have retraced at least 45%)
(Please note: the angle calculation default value is calibrated for BTCUSD. There is no way currently to code it to be used across multiple pairs. The price to bar ratio has to be adjusted for other trading pairs. Please research price to bar ratio if unfamiliar)
ATR has been included to set take profit and stop loss.
Separate ATR settings for filtering the size of IRB (can filter out candles which are too large or small)
Red background colour is for when ema is at or below the set -ve angle slope. Green is for positive angle. Default is set at -45 and 45 degrees.
Big thankyou to ZenAndTheArtOfTrading and the following two scripts.
Cosmic Angle - by cosmic_indicators
Rob Hoffman's Inventory Retracement Bar - by ucsgears
Code was borrowed and used directly from these scripts