Hi,
Got this system while surfing through the net (credit goes to the author of stockmaniacs blog). Can anyone suggest an AFL for this system?
Trading System Setup:
Time frame: Daily/Hourly/30 Minutes/15 Minutes
Scrip: any liquid scrip or index
Trading setup: SMA 50, SMA 100, SMA 200, RSI (2) with horizontal lines at 80 and 20, Fast Stochastics (6,3,3) with horizontal lines at 70 and 30.
Trading rules:
Entry for uptrend: When the 50 SMA is above 100 SMA and 100 SMA is above 200 SMA, it is buy only setup. We will look for RSI to plunge below 20. Then look at Stochastic - once the Stochastic lines crossover occur and it is (must be) below 30 - enter long with a new price bar. If at least one of the conditions is not met - stay out.
Opposite for downtrend: When the the 50 SMA is below 100 SMA and 100 SMA is below 200 SMA, it is sell only setup. Wait for the RSI to go above 80. Then if shortly after you see a Stochastic lines crossover above 70 - enter Short.
Thanks,
Rythm
Got this system while surfing through the net (credit goes to the author of stockmaniacs blog). Can anyone suggest an AFL for this system?
Trading System Setup:
Time frame: Daily/Hourly/30 Minutes/15 Minutes
Scrip: any liquid scrip or index
Trading setup: SMA 50, SMA 100, SMA 200, RSI (2) with horizontal lines at 80 and 20, Fast Stochastics (6,3,3) with horizontal lines at 70 and 30.
Trading rules:
Entry for uptrend: When the 50 SMA is above 100 SMA and 100 SMA is above 200 SMA, it is buy only setup. We will look for RSI to plunge below 20. Then look at Stochastic - once the Stochastic lines crossover occur and it is (must be) below 30 - enter long with a new price bar. If at least one of the conditions is not met - stay out.
Opposite for downtrend: When the the 50 SMA is below 100 SMA and 100 SMA is below 200 SMA, it is sell only setup. Wait for the RSI to go above 80. Then if shortly after you see a Stochastic lines crossover above 70 - enter Short.
Thanks,
Rythm