This is "Grab Trading System" script defined in the book "Trend Following" by Michael W. Covel. also named as "Two-box system". I made small changes and I guess that it can be improved more.
The definition: Far box defines major trend; system trades only in same direction as major trend, meanwhile fading the signals of near box. Last trade in each trend exits at break of far box - at the same time as the trend reverses. All trades, except the last in the trend, use a limit order, as they are fading the near box. The last trade exits on a stop, as the trend changes.
As you can see there is Longterm Period and Shortterm Period in the indicator options. Longterm period is used for major trend and shortterm period is used to take position according to major trend. in my test I got better performance in small time frames. you need to set longterm/shortterm periods by your trading strategies.
hello LonesomeTheBlue! I want to thank you for sharing the important results of your daily work. I will say more - you leave a mark in Hist
MadMoto29
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Hi! Thanks for this. What do the yellow dots indicate?
akmatandon
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Thanks for the excellent system.Kindly clarify on the (+1)Close buy and (-1) Close Buy. As I understand : +1 is the start to buy signal while -1 is the signal to stop/complete your buying.Kindly confirm.