Trading Strategies Using Technical Analysis
- Thread starter SwingKing
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Re: AFL Turtle Soup plus one
in one another forum I found the following code for the turtle soup plus one:
{ BuyCondition: = L = LLV (L, 20) bars since AND (Ref (L = LLV (L, 20), -1))> 3; If (BuyCondition , ValueWhen (2, L = LLV (L, 20), L), 0) {TURTLE SOUP (+1) Buy Entry} BuyCondition: = L = LLV (L, 20) AND bars since (Ref (L = LLV (L , 20), -1))> 3 AND (C <= value when (2, L = LLV (L, 20), L)), Ref (If (BuyCondition, ValueWhen (2, L = LLV (L, 20) , L), 0), -1)
Is there any way to improve your code with the conditions given here?
in one another forum I found the following code for the turtle soup plus one:
{ BuyCondition: = L = LLV (L, 20) bars since AND (Ref (L = LLV (L, 20), -1))> 3; If (BuyCondition , ValueWhen (2, L = LLV (L, 20), L), 0) {TURTLE SOUP (+1) Buy Entry} BuyCondition: = L = LLV (L, 20) AND bars since (Ref (L = LLV (L , 20), -1))> 3 AND (C <= value when (2, L = LLV (L, 20), L)), Ref (If (BuyCondition, ValueWhen (2, L = LLV (L, 20) , L), 0), -1)
Is there any way to improve your code with the conditions given here?
Re: Using 5-Min Charts for Profits
am using falcon 7.give me the perameters for intraday for 5/15min reliance infra/tcs/icici bank/axis/dlf/maruti/hero motors/tatamotors/nifty/bank nifty/relcap/infy/
Ascending Triangle on 5 - Min Chart
Tools Candlestick/Bar Chart and Volume(Color Coded). Since 5-min chart is extremely small time frame, I prefer not to use any oscillator or indicator.
Trade Setup The basics of this setup is very easy to understand. All you need to do is monitor selective stocks (futures based stocks) or the Index. The pattern to look out is usually a horizontal range on the top and higher lows on the bottom. This pattern is extremely effective and provides with good risk/reward ratio on 5-min chart. Essentially can be used as an effective swing trade strategy.Those with sizable cash in portfolios can choose futures stocks for this pattern (leverage advantage). I'll use a very recent example to demonstrate the use of the pattern.
Time Validity - I trade this pattern only on 5-Min chart. The reason behind this is based on my own research. Ascending triangles which occur on daily or weekly charts either dont complete fully or give false breakouts. On analyzing 5-min charts I found that these patterns are highly effective on this time frame.
When does it occur - This pattern can be found during consolidations when a stock pauses before moving higher. Higher bottoms in this pattern indicates bullish momentum being built up.
How to trade it - Refer to the chart below. What we see is that Aditya Birla Nuovo has recently finished a ascending triangle pattern. It formed a nice horizontal base (A,B and C) around 895 levels with it constantly forming higher bottoms (1,2,3,4,5,6,7). The stock eventually broke out from these levels and is trading at 909 currently. The ideal setup would be to buy on breakout only when there is huge increase in volume activity around breakout levels (refer chart).
Target - Add the range of the ascending triangle to the breaching level. In this case it would be the vertical distance between point 1 and A (roughly about 35 points).
STOPLOSS - Use point 7 as stoploss levels. We would ideally want the triangle to fall out completely before deciding that it is a false one.
Important Points - Along with the standard points mentioned above, there are a few points I would like to share in order to judge the strength of the pattern.
1) Strength of Horizontal Top Line - Ideally there should be atleast 2-4 points of contact made with the horizontal top line. In this case we have had 3 point of contacts marked as A, B and C.
2)Strength of Trendline - Number of point of contacts made with the trendline determine the strength of it. In our case we have 7 point of contact. This is brilliant. Ideally I would like to see 3-4 point of contact.
3) Strength of the points (A to C and 1 to 7) - We need to check whether these points are of any use or not. Plotting points is not difficult. However testing them is difficult and important. A simple way to do this is to monitor the volume activity. Look below each major point (1 to 7) how volume acivity picks up as soon as the price reaches the trendline. High volume at these points resemble force (demand) and hence make these points important. I have circled the volume activity underneath each point.
4) Strength of Pattern - When the above mentioned points are in place, then the only thing left to verify is the time of the breakout. Ideally the pattern must breakout before the lines converge. At point 7 the pattern is 70-75% complete and hence this is the right time of breakout.
Ultimately always remember that no pattern is fool proof. In this particular case we have found a very healthy pattern and we can just hope this blossoms into profit. I have huge positions in this stock. Hope this works
Those interested in using Moving Average systems (Price crossovers) to trade can use these Parameters for ADITY BIRLA NUOVO (5 - min chart only)
Buy Average:60 EMA
Sell Average: 30 EMA
Short Average: 35 EMA
Cover Average: 5 EMA
Please note these settings are for Aditya Birla Nuovo Only. If you want settings for other stocks then do let me know.
Tools Candlestick/Bar Chart and Volume(Color Coded). Since 5-min chart is extremely small time frame, I prefer not to use any oscillator or indicator.
Trade Setup The basics of this setup is very easy to understand. All you need to do is monitor selective stocks (futures based stocks) or the Index. The pattern to look out is usually a horizontal range on the top and higher lows on the bottom. This pattern is extremely effective and provides with good risk/reward ratio on 5-min chart. Essentially can be used as an effective swing trade strategy.Those with sizable cash in portfolios can choose futures stocks for this pattern (leverage advantage). I'll use a very recent example to demonstrate the use of the pattern.
Time Validity - I trade this pattern only on 5-Min chart. The reason behind this is based on my own research. Ascending triangles which occur on daily or weekly charts either dont complete fully or give false breakouts. On analyzing 5-min charts I found that these patterns are highly effective on this time frame.
When does it occur - This pattern can be found during consolidations when a stock pauses before moving higher. Higher bottoms in this pattern indicates bullish momentum being built up.
How to trade it - Refer to the chart below. What we see is that Aditya Birla Nuovo has recently finished a ascending triangle pattern. It formed a nice horizontal base (A,B and C) around 895 levels with it constantly forming higher bottoms (1,2,3,4,5,6,7). The stock eventually broke out from these levels and is trading at 909 currently. The ideal setup would be to buy on breakout only when there is huge increase in volume activity around breakout levels (refer chart).
Target - Add the range of the ascending triangle to the breaching level. In this case it would be the vertical distance between point 1 and A (roughly about 35 points).
STOPLOSS - Use point 7 as stoploss levels. We would ideally want the triangle to fall out completely before deciding that it is a false one.
Important Points - Along with the standard points mentioned above, there are a few points I would like to share in order to judge the strength of the pattern.
1) Strength of Horizontal Top Line - Ideally there should be atleast 2-4 points of contact made with the horizontal top line. In this case we have had 3 point of contacts marked as A, B and C.
2)Strength of Trendline - Number of point of contacts made with the trendline determine the strength of it. In our case we have 7 point of contact. This is brilliant. Ideally I would like to see 3-4 point of contact.
3) Strength of the points (A to C and 1 to 7) - We need to check whether these points are of any use or not. Plotting points is not difficult. However testing them is difficult and important. A simple way to do this is to monitor the volume activity. Look below each major point (1 to 7) how volume acivity picks up as soon as the price reaches the trendline. High volume at these points resemble force (demand) and hence make these points important. I have circled the volume activity underneath each point.
4) Strength of Pattern - When the above mentioned points are in place, then the only thing left to verify is the time of the breakout. Ideally the pattern must breakout before the lines converge. At point 7 the pattern is 70-75% complete and hence this is the right time of breakout.
Ultimately always remember that no pattern is fool proof. In this particular case we have found a very healthy pattern and we can just hope this blossoms into profit. I have huge positions in this stock. Hope this works
Those interested in using Moving Average systems (Price crossovers) to trade can use these Parameters for ADITY BIRLA NUOVO (5 - min chart only)
Buy Average:60 EMA
Sell Average: 30 EMA
Short Average: 35 EMA
Cover Average: 5 EMA
Please note these settings are for Aditya Birla Nuovo Only. If you want settings for other stocks then do let me know.
some small queries,
is it good to trade one stock daily by analyzing it when to go long or short.
or few bunch of selected stocks (or current highlighted stocks in sites running in trend)
some times mentioned as ........."this works only on strong trending stocks",
then the mean thing is how to identify whether it is in strong trend or already trended.
is there any way or systems which can be used current market to get daily or weekly gains. ( may be few times fails but those systems if gives more times successful trades then ok)
how to avoid whipshaws in our trading and finding better entry points to avoid many times hitting the stop loss or many times doing the same trade.
is it good to trade one stock daily by analyzing it when to go long or short.
or few bunch of selected stocks (or current highlighted stocks in sites running in trend)
some times mentioned as ........."this works only on strong trending stocks",
then the mean thing is how to identify whether it is in strong trend or already trended.
is there any way or systems which can be used current market to get daily or weekly gains. ( may be few times fails but those systems if gives more times successful trades then ok)
how to avoid whipshaws in our trading and finding better entry points to avoid many times hitting the stop loss or many times doing the same trade.
Re: Rectangular Trading Pattern for Intra-Day Purpose
Dear Sir,
Can you please share AFL for Intraday RECTANGULAR PATTERN ??
Thanks
RECTANGULAR PATTERN ON INTRADAY BASIS
This is the "heart" of my day trading. And I hope it will benefit all.
Tools Candlestick/Bar Chart (5 Minutes), MACD Oscillator with standard settings, Support and Resistance levels on 5 Minute chart
Trade Setup The basics of this setup is very easy to understand. All you need to do is monitor selective stocks (high beta high volume) or the Index. The pattern to look out is usually a horizontal range in which the particular entity trades and then gives a breakout in either direction. This pattern is extremely effective and has occurred nearly 70 times in the past 11 months on Nifty. On an average one can find at least 3-5 trading days in a month where this pattern forms. The average points to capture on one particular move are about 20-60. These figures on based on Nifty analysis. However, with 50 high beta futures stock, this pattern is bound to occur in many stocks on daily basis. Top 48 beta stocks exhibit this pattern atleast 1-2 times. So on different days you might get different stocks exhibiting this pattern.
Buy Setup A typical buy setup occurs when the entity breaks out on the upside after trading in a horizontal range for most of the day. Buy at the closing of the breakout candle and keep a stop loss at the low of the previous candle. MACD slope in this setup should largely be up. The risk reward ratio of this setup is extremely rewarding. Prior to the breakout ideally Nifty should have traded in the range of 25-35 points.
Sell Setup A typical sell setup occurs when the entity breaks out on the downside after trading in a horizontal range for most of the day. Short at the closing of the breakout candle and keep a stop loss at the high of the previous candle. MACD slope in this setup should largely be down. The risk reward ratio of this setup is extremely rewarding. Prior to the breakout ideally Nifty should have traded in the range of 25-35 points.
Important Notes Look at the slope of MACD when you enter the trade. Also, always take a note of where prices are trading with respect to their support and resistance.
Have patience and you will see this pattern occurring regularly.
I am posting two out of many examples I have for NIFTY alone. If you want to see this for individual stocks then let me know.
This is the "heart" of my day trading. And I hope it will benefit all.
Tools Candlestick/Bar Chart (5 Minutes), MACD Oscillator with standard settings, Support and Resistance levels on 5 Minute chart
Trade Setup The basics of this setup is very easy to understand. All you need to do is monitor selective stocks (high beta high volume) or the Index. The pattern to look out is usually a horizontal range in which the particular entity trades and then gives a breakout in either direction. This pattern is extremely effective and has occurred nearly 70 times in the past 11 months on Nifty. On an average one can find at least 3-5 trading days in a month where this pattern forms. The average points to capture on one particular move are about 20-60. These figures on based on Nifty analysis. However, with 50 high beta futures stock, this pattern is bound to occur in many stocks on daily basis. Top 48 beta stocks exhibit this pattern atleast 1-2 times. So on different days you might get different stocks exhibiting this pattern.
Buy Setup A typical buy setup occurs when the entity breaks out on the upside after trading in a horizontal range for most of the day. Buy at the closing of the breakout candle and keep a stop loss at the low of the previous candle. MACD slope in this setup should largely be up. The risk reward ratio of this setup is extremely rewarding. Prior to the breakout ideally Nifty should have traded in the range of 25-35 points.
Sell Setup A typical sell setup occurs when the entity breaks out on the downside after trading in a horizontal range for most of the day. Short at the closing of the breakout candle and keep a stop loss at the high of the previous candle. MACD slope in this setup should largely be down. The risk reward ratio of this setup is extremely rewarding. Prior to the breakout ideally Nifty should have traded in the range of 25-35 points.
Important Notes Look at the slope of MACD when you enter the trade. Also, always take a note of where prices are trading with respect to their support and resistance.
Have patience and you will see this pattern occurring regularly.
I am posting two out of many examples I have for NIFTY alone. If you want to see this for individual stocks then let me know.
Can you please share AFL for Intraday RECTANGULAR PATTERN ??
Thanks
Re: EMA Cross Over System
Hi,
One question here is what base do you take to calculate the returns of the range 50-70%.
TIA
Uni
EMA Cross Over Weekly Trades
Tools Candlestick/Bar Chart (Daily), 150 EMA, 70 EMA and 20 EMA
Trade Setup This is a trend trading system which gives enormous returns while trending markets and many whipsaws in non trending markets. Keeping our economy in view, this is going to be a profitable system in coming years as we are in an age of trending markets (either up or down). In this system we make use of 3 EMA; 150 EMA (Long term average), 70 EMA (Medium term Average) and 20 EMA (Short term Average).
Buy Setup A typical buy setup occurs when the Short term average (20 EMA) crosses over the 70 EMA with the 70 EMA being above the 150 EMA. Same principle (but reverse) goes out for short trades.
Sell Setup Exit the trade once the short term average (20 EMA) crosses the medium term average (70 EMA) form above.
Important Notes To use this system effectively, exit the positions once you get returns in the range of 50-70%. Start offloading the positions once 50% return is on the cards.
Tools Candlestick/Bar Chart (Daily), 150 EMA, 70 EMA and 20 EMA
Trade Setup This is a trend trading system which gives enormous returns while trending markets and many whipsaws in non trending markets. Keeping our economy in view, this is going to be a profitable system in coming years as we are in an age of trending markets (either up or down). In this system we make use of 3 EMA; 150 EMA (Long term average), 70 EMA (Medium term Average) and 20 EMA (Short term Average).
Buy Setup A typical buy setup occurs when the Short term average (20 EMA) crosses over the 70 EMA with the 70 EMA being above the 150 EMA. Same principle (but reverse) goes out for short trades.
Sell Setup Exit the trade once the short term average (20 EMA) crosses the medium term average (70 EMA) form above.
Important Notes To use this system effectively, exit the positions once you get returns in the range of 50-70%. Start offloading the positions once 50% return is on the cards.
One question here is what base do you take to calculate the returns of the range 50-70%.
TIA
Uni
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