This morning I shared an idea for a EURCHF trade.
That idea has gone on to hit Take profit.
Following that trade another idea has alerted later on.
That trade has also gone to find TP target.
POW reversal in use for this idea.
This is a 30M time frame strategy.
Chart shows one live short trade at present.
Green lines are TP and Purple lines are SL.
Will this strategy see any more trades today?
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What is our POW reversal script?
The script is a reversal strategy and can be used on any instrument and time frame.
The strategy simply sits in your TradingView so you will see exactly what we see - the trade, entry price, SL and TP values.
You as the user has full control on how you want the script to work.
The script is a mechanical trading system which through third party services can be automated.
The script is based on a combination of indicators with the main ingredient being RSI .
As a user using the script you are able to see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
We know upon changing settings if they will work on the trading instrument and the time frame being worked as we have coded in a built in strategy tester.
Making use of TradingView's pine code we have coded in a strategy tester saves hours of time not having to manually back test a strategy.
Having the data in an instant enables us to enter trades with full confidence knowing we are working a proven system.
The built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
All of the above means we are working to a rules based approach to trading for our entry, exit and risk management.
Subjectivity and emotions are removed we simply follow and execute the already tested plan.
Thanks for looking at my idea 👍
Darren.
That idea has gone on to hit Take profit.
Following that trade another idea has alerted later on.
That trade has also gone to find TP target.
POW reversal in use for this idea.
This is a 30M time frame strategy.
Chart shows one live short trade at present.
Green lines are TP and Purple lines are SL.
Will this strategy see any more trades today?
______________________________________________________________________________________
What is our POW reversal script?
The script is a reversal strategy and can be used on any instrument and time frame.
The strategy simply sits in your TradingView so you will see exactly what we see - the trade, entry price, SL and TP values.
You as the user has full control on how you want the script to work.
The script is a mechanical trading system which through third party services can be automated.
The script is based on a combination of indicators with the main ingredient being RSI .
As a user using the script you are able to see all available settings and what they are.
The values for each setting can be adjusted to fit and suit each individual instrument as well as the time frame said instrument is being used on.
We know upon changing settings if they will work on the trading instrument and the time frame being worked as we have coded in a built in strategy tester.
Making use of TradingView's pine code we have coded in a strategy tester saves hours of time not having to manually back test a strategy.
Having the data in an instant enables us to enter trades with full confidence knowing we are working a proven system.
The built in strategy tester also doubles up as a live trading journal too as the strategy tester will confirm and support every open and closed position.
All of the above means we are working to a rules based approach to trading for our entry, exit and risk management.
Subjectivity and emotions are removed we simply follow and execute the already tested plan.
Thanks for looking at my idea 👍
Darren.
