Hi LVG,
Thanks A Lot for the AFL.....!!!
Just overlayed a chart with your AFL.... looks nice...and 50 EMA changing colour is a nice touch......!!!
Coming To Entries & Exits
Conditions of Long Entry
a) When All WWMAs (5, 8 & 13) have crossed above each other respectively... (8 above 13 & 5 above 8)
b) Second condition that 50-EMA is tilted up
When all the above conditions are fulfilled, we keep a Long Entry just slightly above the High of the Candle...with Initial S/L a little lower than either the immediate Swing Low or the recent Biggest Swing Low....!!!
Trailing S/L is thereafter only adjusted a little Below the next Swing Low that forms as the Price action unfolds....& we wait for a candle to Trigger an exit .....!!!
If we have an open position and Price Action unfolding indicates a Gap-Up then the Trailing Exit is moved slightly Higher than HIGH of the previous candle of the Gap-Up Candle....or a little Below the Low of the Gap-Up candle itself (Traders can follow either condition of Gap-up).....!!!
Position of the 50-EMA with respect to WWMAs is not important as long as it has an upward tilt
When an open position Triggers the Trailing S/L... and if all the Long entry conditions are in place we simply Re-enter above the High of the Candle...if the High is not taken out and re-entry is not Triggered and then we simply move the Re-entry to High of the Last Candle...provided all the WWMA and most importantly 50-EMA has an upward Tilt
Will Post a chart a little later to illustrate the above....!!!
SG
