SH's Intraday Strategy - ELH5

[Gina]

hi,
thanks for the afl. I am getting "missing buy/sell variables..." error
how to rectify this error..?

yes please

 

[summasumma]

This one from yesterdays trades...

[/URL] Uploaded with ImageShack.us[/IMG]

Hi VJAY,
Thanks for the image.

VJAY/Tradewithhunter and others, I like to know whether the following proposed change in the ELH5 system will provide any improvment or not:

Rules:
1. Same setup 5min High and 5min Low
2. BUY when u see 2 consecutive RED candle touching 5min Low line followed by a GREEN.
3. SELL when u see 2 consecutive GREEN candle touching 5min High line followed by a RED.
4. Stoploss:
-> for BUY, 2 consecutive RED
-> for SELL, 2 consecutive GREEN
(This SL has to be optimized as it doesnt protect u frm sudden spike or fall.
My suggestion is to TRAIL SL)

Now when i apply these to the chart posted by VJAY,
i will get ENTRY in the following places:
1. around 10:50 AM, SELL
2. around 11.30 AM, BUY
3. around 13.15 PM, BUY
4. around 14:15, BUY

5. around 14:45 , BUY ---> Sorry, this is not a BUY as the previous 2 consecutive RED candles doesnt touch the 5min Low line. Ignore this.

ALL ENTRY looks good, isnt it?
Also if you feel this RULES are fine, Please suggest some good SL method of the same.

If someone like this and could spare time with this RULES, try capturing the ENTRIES for the previous images posted in this thread which can help u in testing this rules

Thanks,
...summasumma

 

[amitava82]

Buy signal @ 10:05

 

[bhaskar145]

Hi Vjay,

Is there a long trigger by 1005 & 1010 candle?

 

[razx5]

Hi Raz,

Welcome to this thread. As per SH's rule the bars have to close OUTSIDE the EMA channel. Merely touching the EMAs doesn't qualify as trigger. Secondly entry/exit is after close of the EMA touching bar i.e. once the 5 min TF candles that touches or penetrates opposite EMA5 ends we take entry. U can check yesterday's 4th entry to get a clear picture. Entry was made after close of red WRB.

bit complicated..good for scalpers..anyways i m happy with my gann stuff..anyways thanx bhaskar..all the best

 

[VJAY]

Hi Vjay,

Is there a long trigger by 1005 & 1010 candle?

yes bhaskar...

 

[razx5]

Hi Vjay,

Is there a long trigger by 1005 & 1010 candle?

di u enter long now at 5920?10.04 nad 10.09 candele closed outside high..even 10.14 candle..

 

[bhaskar145]

di u enter long now at 5920?10.04 nad 10.09 candele closed outside high..even 10.14 candle..

Entered close of 1030 bar @ 5918

 

[razx5]

Entered close of 1030 bar @ 5918

what if 10.35 candle also closed outside low of 5 ema?v exit then and there or wait for the 20 point fall?

 

[bhaskar145]

what if 10.35 candle also closed outside low of 5 ema?v exit then and there or wait for the 20 point fall?

Then a short wd hv been triggered, so we exit & wait fr candle to touch 5EMAH to go short. This is the gd thing about this system that most of the time SL is very small. 20point SL is for those time when u have a fast WRB against u.