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The EMA(30) filter in Karthik's EOD strategy is almost redundant. It actually delays the entry sometimes if followed strictly.
As for KOTAKBANK, entry triggered on 20th Jan and entry taken on 21st or more safe on 22nd. This is because on 20th there was a green candle going from below all of the averages and above all of them. The next day price went above previous day high (although not close above, so a bit risky to enter). Therefore, even if the price can not break the 3-month high, the trade will end in some profit.
This rule is not built into the AFL. But for those who can take some risk, this rule can give a good trade.
Similarly, for red candle across the averages, you can exit without waiting for SL to be hit.
Another observation I have made is, if three consecutive red candles are formed, closing lower and lower, and the first red candle makes a highest high after entry then exit without waiting for SL.
These rules are not coded in the AFL.
-Anant
The EMA(30) filter in Karthik's EOD strategy is almost redundant. It actually delays the entry sometimes if followed strictly.
As for KOTAKBANK, entry triggered on 20th Jan and entry taken on 21st or more safe on 22nd. This is because on 20th there was a green candle going from below all of the averages and above all of them. The next day price went above previous day high (although not close above, so a bit risky to enter). Therefore, even if the price can not break the 3-month high, the trade will end in some profit.
This rule is not built into the AFL. But for those who can take some risk, this rule can give a good trade.
Similarly, for red candle across the averages, you can exit without waiting for SL to be hit.
Another observation I have made is, if three consecutive red candles are formed, closing lower and lower, and the first red candle makes a highest high after entry then exit without waiting for SL.
These rules are not coded in the AFL.
-Anant
I got confused. In my chart Quadra gave a trigger on 28.01.2013 only. On 22.01.2013 the Green candle crossed all average line. On 20.01.2013 though the candle was green it did not touch any average line. But that was a bullish formation. In present situation I assume we can enter Kotak with a tight stoploss say low of the candle on 29.01.13, that day volume line was extraordinarily high and it was a result day.
Your comments please