SH's 315 Strategy - how to use if effectively

[rkkarnani]

Exited just now 8X50 lots at 19.25 holding 2X50 lots... fear of time value loss as clearing this month on coming Tuesday !! God was kind to give me courage to trade this in Options. Profit in Hand in this run helped!!

Was holding 2X50 NF CE5200, holding it with SL at cost!!

 

[rishete]

SH,

What is your today's position as per the 315 rule?

 

[kbhandge]

I want combine two afl.

One afl is candalstick chart with Buy Sell Signal.

Afl is belowe.

_SECTION_BEGIN("Ensign Volatility Stop");

// Ensign Volatility Stop
// get the multiple of 9 period EMA of ATR_Ensign

_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
k=Param("multiplication factor", 1,0.5,5,0.1);

period=k*5;
VS_raw = 2.2 * EMA(ATR(1), period);

// for longs, VS line is below price
loline = VS_below_price = HHV(Close, period) - VS_raw;

// for shorts, VS line is above price
hiline = VS_above_price = LLV(Close, period) + VS_raw;
between = IIf (C < hiline AND C > loline, 1, 0);
up = IIf(C > hiline OR (H > Ref(H, -1) AND H > hiline), 1, 0);
dn = IIf(C < loline OR (L < Ref(L, -1) AND L < loline), 1, 0);
upcond = IIf(between AND BarsSince(up) < BarsSince(dn) , 1, 0);
dncond = IIf(between AND BarsSince(dn) < BarsSince(up) , 1, 0);
upline = IIf(up OR upcond, loline, Null);
dnline = IIf(dn OR dncond, hiline, Null);

Buy=upline;
Sell=dnline;

Col = IIf(Buy,colorGreen,IIf(Sell,colorRed,colorBlack));

Plot(C, "", col, styleBar | styleThick );

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

shape = Buy * shapeUpArrow + Sell * shapeDownArrow;
PlotShapes( shape, IIf( Buy, colorBrightGreen, colorRed ),0, IIf( Buy, Low, High ) );


Second afl is SUPPORT AND RESISTANCE These afl is show All support and Resistance.

The afl is below

//|-----------------------------------------------------------------------------------------
//|PatternExplorer.com - Support & Resistance
//|Copyright 2007, PatternExplorer.com
//|http://www.PatternExplorer.com
//|e-mail: [email protected]
//|-----------------------------------------------------------------------------------------
FormulaName = "PE - S & R";

SetChartOptions( 0, chartShowDates | chartLogarithmic | chartWrapTitle );
#pragma nocache
#include_once <\PEInc\PatternExplorer_f0.afl>
#include_once "Formulas\PatternExplorer\#Defaults & Mods\PE - Defaults.afl"
#include_once "Formulas\PatternExplorer\#Defaults & Mods\PE - Mods.afl"
/*******************************************************************************************/
AddCustomCodeBeforePE();
/*******************************************************************************************/

_SECTION_BEGIN( "Main Parameters" );
AddparamUsefromChart( def_UseFromChart );
Sensitivity = Param( "Sensitivity", 10, 0, 100, 1 );

if ( InChart )
StaticVarSet( "FYIOKU", Sensitivity );

if ( inAA AND Usefromchart )
Sensitivity = StaticVarGet( "FYIOKU" );

DisRange = Param( "Plot 'far away' Lines Trigger", 3, 0, 10, 0.5 );

Color_SL = ParamColor( "Support", def_Color1 );

Color_RL = ParamColor( "Resistance", colorRed );

_SECTION_END();

/*******************************************************************************************/
#include_once <\PEInc\PatternExplorer_1.afl>
#include_once <\PEInc\Lib\PatternExplorer_f15.afl>
/*******************************************************************************************/
BS = break_G1_val == 1 OR break_G2_val == 1;

SS = break_G1_val == -1 OR break_G2_val == -1;

Buy = def_Buy AND BS;

Sell = SS;

/*******************************************************************************************/
Filter = def_Filter AND BarIndex() == LastValue( BarIndex() ) AND NOT GroupID() == 253;

Filter = Filter AND ( Buy OR Sell );

/*******************************************************************************************/
Addefaultcolumns();

Adddefaultcolumns( 2, 1 );

AddTextColumn(
WriteIf( break_G1_val == -1, "Break",
WriteIf( break_G1_val == 1, "Break", "" ) ), "Minor Levels", 1.2,
IIf( break_G1_val == 1, colorGreen, IIf( break_G1_val == -1, colorRed, colorBlue ) ) );

AddTextColumn(
WriteIf( break_G2_val == -1, "Break",
WriteIf( break_G2_val == 1, "Break", "" ) ), "Major Levels", 1.2,
IIf( break_G2_val == 1, colorGreen, IIf( break_G2_val == -1, colorRed, colorBlue ) ) );

AddTextColumn( FullName(), "Full name" );

/*******************************************************************************************/
Plot( IIf( x >= XT1 & RT1 &NOT T1 == 0, T1, -1e10 ), "T1", IIf( LastValue( C ) < T1, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT2 & RT2 &NOT T2 == 0, T2, -1e10 ), "T2", IIf( LastValue( C ) < T2, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT3 & RT3 &NOT T3 == 0, T3, -1e10 ), "T3", IIf( LastValue( C ) < T3, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT4 & RT4 &NOT T4 == 0, T4, -1e10 ), "T4", IIf( LastValue( C ) < T4, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT5 & RT5 &NOT T5 == 0, T5, -1e10 ), "T5", IIf( LastValue( C ) < T5, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP1 & RP1 &NOT P1 == 0, P1, -1e10 ), "P1", IIf( LastValue( C ) < P1, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP2 & RP2 &NOT P2 == 0, P2, -1e10 ), "P2", IIf( LastValue( C ) < P2, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP3 & RP3 &NOT P3 == 0, P3, -1e10 ), "P3", IIf( LastValue( C ) < P3, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP4 & RP4 &NOT P4 == 0, P4, -1e10 ), "P4", IIf( LastValue( C ) < P4, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP5 & RP5 &NOT P5 == 0, P5, -1e10 ), "P5", IIf( LastValue( C ) < P5, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT6 & RT6 &NOT T6 == 0, T6, -1e10 ), "T6", IIf( LastValue( C ) < T6, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XT7 & RT7 &NOT T7 == 0, T7, -1e10 ), "T7", IIf( LastValue( C ) < T7, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XP6 & RP6 &NOT P6 == 0, P6, -1e10 ), "P6", IIf( LastValue( C ) < P6, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XP7 & RP7 &NOT P7 == 0, P7, -1e10 ), "P7", IIf( LastValue( C ) < P7, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

/*******************************************************************************************/
ToolTip = def_ToolTip;

/*******************************************************************************************/
AddCustomCodeAfterPE();

/*******************************************************************************************/
Title = "PatternExplorer.com - Support & Resistance" + default_priceTitle + EncodeColor( IIf( NOT AnZ, def_Text2, colorRed ) ) + ",Sensitivity = " + WriteVal( Sensitivity, 1 ) + " " + EncodeColor( colorRed ) + WriteIf( NOT AnZ, "", " NO POINTS AVAILABLE -> REDUCE SENSITIVITY " );


Any one can combine these two afl.
If price is 5200 on bar chart.
Support is 5100 and resitance is 5400.
i want support resistance price on bar chart.
Support means stop loss and resitance means target.
Means current nifty trade 5200 stop loss is 5100 and target is 5400.
these information is show on bar chart without support and resitance chart.

If any one can do these pls try.

Thanks

 

[mangup]

Sorry to jump in here but its an interesting question and I would like to share when/how to book based on 3 EMA.

The thumb rule says that book profit at open if markt opens away from 3 EMA ....note 3 EMA value at the point of booking .. re-enter when that point is reached by NF.

It also depends on how big the gap is between 3 EMA and price .. I think I have explained this in the past also ... if the difference is only 20-30 points .. no point booking ...but if the difference is more than 50-60 points.. then it makes sense to book immediately and wait for a retracement.


The only tweak I have introduced is that if this gap away happens very early in the trend (i.e immediately after the entry signal of 315) ..and if the market has been in a congestion zone (i.e we have had 2-3 whips in the past) ... in this scenario mkts usually trend very strongly and can gap up and keep moving up (or visa versa) without retracing. In that scenario dont book at open .. wait for 3.25 PM and then book.

Mkts have clkosed above 5140 today so the 315 longs are in 150+ point profit.

Rkkarnani - yesterday was a good day to buy or ADD as if you see Nifty took support at 15 EMA and that 3 EMA was not touching yesterdays candle. So today an upmove was anticipated anyways ....

Cheers
SH

Dear SH,

Thanks for the reply.

It means we have to watch for the day opening prices as well & book the longs in day opening itself if gap betn open & 3 EMA is around 50-60 pts. & wait to enter into long once 3 EMA gets touched. This may happen any time within the day. Since now-a-days we are observing the opening gaps are in the range of more than 50 pts. This calls for booking the positions on day open itself & then re-enter. Right?

 

[ocd]

It has been awhile since I posted so I wanted to show my sincere appreciation for the board and tradewithhunter for this trading strategy.

As many of us do (who are self-taught), we wander from from one technical analysis technique/strategy to the next. At first we seem to be seeking the 'holy grail' of indicators only to quickly see the weakness of each...then we experience a big time level of frustration because we KNOW we can get this trading game figured out - but it continues to allude us for some reason.

The 3/15 moving average strategy is extremely effective; a success rate of at least 75% over time regardless of the stock (excluding penny stocks). I have been very skeptical in using it alone without other supporting indicators but have come to realize that it alone truly is the only thing you need. Now in fairness I have made two adjustments but I am an aggressive trader...

I like, and use, a 2/10 EMA instead of the 3/15. I buy when the crossover happens and sell gap ups per the original instructions. However, I also sell out once the momentum loses steam and the trading begins to 'roll over'. Very easy to see it happening. This way I attempt to capture max profits and not give it back...then I get ready to reverse my position from long to short (or from calls to puts because I trade options). But for those wondering, the 3/15 is much more stable than the 2/10 method with less fake outs.

The best thing's in life are always simple...just reflect on that one thought for as long as you want and you will agree. Anything complicated is usually never good because of the frustration and stress it causes. This is a simple trading strategy/method; the only one you need for the rest of your entire life.

Anyway, I just wanted to thank tradewithhunter for the absolute best trading method ever and the board mods for stickying the post, otherwise I probably never would have found it.

 

[rkkarnani]

Was holding 2X50 NF CE5200, holding it with SL at cost!!

SL at cost hit in option, though had exited at open and reentered the Long in Nifty Future. I am still long but switched to next month!
In hindsitefeel shouldhave also booked profit in Options too!!

 

[moneywise]

It has been awhile since I posted so I wanted to show my sincere appreciation for the board and tradewithhunter for this trading strategy.

As many of us do (who are self-taught), we wander from from one technical analysis technique/strategy to the next. At first we seem to be seeking the 'holy grail' of indicators only to quickly see the weakness of each...then we experience a big time level of frustration because we KNOW we can get this trading game figured out - but it continues to allude us for some reason.

The 3/15 moving average strategy is extremely effective; a success rate of at least 75% over time regardless of the stock (excluding penny stocks). I have been very skeptical in using it alone without other supporting indicators but have come to realize that it alone truly is the only thing you need. Now in fairness I have made two adjustments but I am an aggressive trader...

I like, and use, a 2/10 EMA instead of the 3/15. I buy when the crossover happens and sell gap ups per the original instructions. However, I also sell out once the momentum loses steam and the trading begins to 'roll over'. Very easy to see it happening. This way I attempt to capture max profits and not give it back...then I get ready to reverse my position from long to short (or from calls to puts because I trade options). But for those wondering, the 3/15 is much more stable than the 2/10 method with less fake outs.

The best thing's in life are always simple...just reflect on that one thought for as long as you want and you will agree. Anything complicated is usually never good because of the frustration and stress it causes. This is a simple trading strategy/method; the only one you need for the rest of your entire life.

Anyway, I just wanted to thank tradewithhunter for the absolute best trading method ever and the board mods for stickying the post, otherwise I probably never would have found it.

OCD
I fully agree with you that the best things in life are always simple.

You said you are an aggressive trader - so what time frame do you use for your 2/10 strategy? Does this 2/10 or 3/15 work well on a smaller time frame for day trading? Can you give us some insight about your own trading in options using this strategy?

Thanks!
Moneywise

 

[trader_boy]

yesterday @5145 candle was not touchn in the morning ...and the final closing price made the eod candle touch 3ema by difference of hardly 1 point.so we should have opened new longs yesterday or not.Even in the opening today candle not touching 3ema.Kindly assist.

 

[Tradewithhunter]

yesterday @5145 candle was not touchn in the morning ...and the final closing price made the eod candle touch 3ema by difference of hardly 1 point.so we should have opened new longs yesterday or not.Even in the opening today candle not touching 3ema.Kindly assist.

The difference has not been much between gap up opening price and the 3 EMA ... so no booking (whilst booking and re-entering at lower price could have yeilded intraday profits).

Cheers
SH

 

[jallanankit]

I want combine two afl.

One afl is candalstick chart with Buy Sell Signal.

Afl is belowe.

_SECTION_BEGIN("Ensign Volatility Stop");

// Ensign Volatility Stop
// get the multiple of 9 period EMA of ATR_Ensign

_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
k=Param("multiplication factor", 1,0.5,5,0.1);

period=k*5;
VS_raw = 2.2 * EMA(ATR(1), period);

// for longs, VS line is below price
loline = VS_below_price = HHV(Close, period) - VS_raw;

// for shorts, VS line is above price
hiline = VS_above_price = LLV(Close, period) + VS_raw;
between = IIf (C < hiline AND C > loline, 1, 0);
up = IIf(C > hiline OR (H > Ref(H, -1) AND H > hiline), 1, 0);
dn = IIf(C < loline OR (L < Ref(L, -1) AND L < loline), 1, 0);
upcond = IIf(between AND BarsSince(up) < BarsSince(dn) , 1, 0);
dncond = IIf(between AND BarsSince(dn) < BarsSince(up) , 1, 0);
upline = IIf(up OR upcond, loline, Null);
dnline = IIf(dn OR dncond, hiline, Null);

Buy=upline;
Sell=dnline;

Col = IIf(Buy,colorGreen,IIf(Sell,colorRed,colorBlack));

Plot(C, "", col, styleBar | styleThick );

Buy=ExRem(Buy,Sell);
Sell=ExRem(Sell,Buy);

shape = Buy * shapeUpArrow + Sell * shapeDownArrow;
PlotShapes( shape, IIf( Buy, colorBrightGreen, colorRed ),0, IIf( Buy, Low, High ) );


Second afl is SUPPORT AND RESISTANCE These afl is show All support and Resistance.

The afl is below

//|-----------------------------------------------------------------------------------------
//|PatternExplorer.com - Support & Resistance
//|Copyright 2007, PatternExplorer.com
//|http://www.PatternExplorer.com
//|e-mail: [email protected]
//|-----------------------------------------------------------------------------------------
FormulaName = "PE - S & R";

SetChartOptions( 0, chartShowDates | chartLogarithmic | chartWrapTitle );
#pragma nocache
#include_once <\PEInc\PatternExplorer_f0.afl>
#include_once "Formulas\PatternExplorer\#Defaults & Mods\PE - Defaults.afl"
#include_once "Formulas\PatternExplorer\#Defaults & Mods\PE - Mods.afl"
/*******************************************************************************************/
AddCustomCodeBeforePE();
/*******************************************************************************************/

_SECTION_BEGIN( "Main Parameters" );
AddparamUsefromChart( def_UseFromChart );
Sensitivity = Param( "Sensitivity", 10, 0, 100, 1 );

if ( InChart )
StaticVarSet( "FYIOKU", Sensitivity );

if ( inAA AND Usefromchart )
Sensitivity = StaticVarGet( "FYIOKU" );

DisRange = Param( "Plot 'far away' Lines Trigger", 3, 0, 10, 0.5 );

Color_SL = ParamColor( "Support", def_Color1 );

Color_RL = ParamColor( "Resistance", colorRed );

_SECTION_END();

/*******************************************************************************************/
#include_once <\PEInc\PatternExplorer_1.afl>
#include_once <\PEInc\Lib\PatternExplorer_f15.afl>
/*******************************************************************************************/
BS = break_G1_val == 1 OR break_G2_val == 1;

SS = break_G1_val == -1 OR break_G2_val == -1;

Buy = def_Buy AND BS;

Sell = SS;

/*******************************************************************************************/
Filter = def_Filter AND BarIndex() == LastValue( BarIndex() ) AND NOT GroupID() == 253;

Filter = Filter AND ( Buy OR Sell );

/*******************************************************************************************/
Addefaultcolumns();

Adddefaultcolumns( 2, 1 );

AddTextColumn(
WriteIf( break_G1_val == -1, "Break",
WriteIf( break_G1_val == 1, "Break", "" ) ), "Minor Levels", 1.2,
IIf( break_G1_val == 1, colorGreen, IIf( break_G1_val == -1, colorRed, colorBlue ) ) );

AddTextColumn(
WriteIf( break_G2_val == -1, "Break",
WriteIf( break_G2_val == 1, "Break", "" ) ), "Major Levels", 1.2,
IIf( break_G2_val == 1, colorGreen, IIf( break_G2_val == -1, colorRed, colorBlue ) ) );

AddTextColumn( FullName(), "Full name" );

/*******************************************************************************************/
Plot( IIf( x >= XT1 & RT1 &NOT T1 == 0, T1, -1e10 ), "T1", IIf( LastValue( C ) < T1, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT2 & RT2 &NOT T2 == 0, T2, -1e10 ), "T2", IIf( LastValue( C ) < T2, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT3 & RT3 &NOT T3 == 0, T3, -1e10 ), "T3", IIf( LastValue( C ) < T3, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT4 & RT4 &NOT T4 == 0, T4, -1e10 ), "T4", IIf( LastValue( C ) < T4, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT5 & RT5 &NOT T5 == 0, T5, -1e10 ), "T5", IIf( LastValue( C ) < T5, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP1 & RP1 &NOT P1 == 0, P1, -1e10 ), "P1", IIf( LastValue( C ) < P1, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP2 & RP2 &NOT P2 == 0, P2, -1e10 ), "P2", IIf( LastValue( C ) < P2, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP3 & RP3 &NOT P3 == 0, P3, -1e10 ), "P3", IIf( LastValue( C ) < P3, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP4 & RP4 &NOT P4 == 0, P4, -1e10 ), "P4", IIf( LastValue( C ) < P4, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XP5 & RP5 &NOT P5 == 0, P5, -1e10 ), "P5", IIf( LastValue( C ) < P5, Color_RL, Color_SL ), 1 + 2048 + styleNoTitle );

Plot( IIf( x >= XT6 & RT6 &NOT T6 == 0, T6, -1e10 ), "T6", IIf( LastValue( C ) < T6, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XT7 & RT7 &NOT T7 == 0, T7, -1e10 ), "T7", IIf( LastValue( C ) < T7, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XP6 & RP6 &NOT P6 == 0, P6, -1e10 ), "P6", IIf( LastValue( C ) < P6, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

Plot( IIf( x >= XP7 & RP7 &NOT P7 == 0, P7, -1e10 ), "P7", IIf( LastValue( C ) < P7, Color_RL, Color_SL ), 8 + 2048 + styleNoTitle );

/*******************************************************************************************/
ToolTip = def_ToolTip;

/*******************************************************************************************/
AddCustomCodeAfterPE();

/*******************************************************************************************/
Title = "PatternExplorer.com - Support & Resistance" + default_priceTitle + EncodeColor( IIf( NOT AnZ, def_Text2, colorRed ) ) + ",Sensitivity = " + WriteVal( Sensitivity, 1 ) + " " + EncodeColor( colorRed ) + WriteIf( NOT AnZ, "", " NO POINTS AVAILABLE -> REDUCE SENSITIVITY " );


Any one can combine these two afl.
If price is 5200 on bar chart.
Support is 5100 and resitance is 5400.
i want support resistance price on bar chart.
Support means stop loss and resitance means target.
Means current nifty trade 5200 stop loss is 5100 and target is 5400.
these information is show on bar chart without support and resitance chart.

If any one can do these pls try.

Thanks

This AFL wont work till the time, the 3 afls as mentioned in this AFL is copied in the INCLUDE folder in amibroker directory..