SH's Intraday Strategy - ELH5

[FanaticTrader]

Long taken @ 5479

 

[FanaticTrader]

Long position closed @ 5473 (due to two continuous candle close outside 5 EMA (low)) minor loss of 6 points

At the same time this is trigger for short position

 

[FanaticTrader]

@ 11.03 - Short taken at 5481.5

 

[FanaticTrader]

Target bang on... Covered at 5461.5 :thumb: 20 points profit...

 

[akrsrivastava]

Filter is on 5 min tf...

if
adx is less than pdi
adx is less than mdi
adx is less than 25

then no trade...

I checked the 5min TF data for past 8-10 days. Rarely, if ever, has the adx been higher than both pdi and mdi. This effectively puts us out of trade for the entire duration.
Amit

 

[linkon7]

I checked the 5min TF data for past 8-10 days. Rarely, if ever, has the adx been higher than both pdi and mdi. This effectively puts us out of trade for the entire duration.
Amit

The interpretation of adx, pdi and mdi are as follows:

If adx is below pdi and adx is below mdi..then no conviction in either direction...

if pdi is below adx and pdi is below MDI.. then market is in the hands of bears... a rising adx is a sign of the bear strength...

if mdi is below adx and mdi is below PDI... then market is in the hands of the bulls... a rsing adx means bull are aggressive...


Its not who is at the top...but who is at the bottom... that gives us the bias...

 

[akrsrivastava]

The interpretation of adx, pdi and mdi are as follows:

If adx is below pdi and adx is below mdi..then no conviction in either direction...

if pdi is below adx and pdi is below MDI.. then market is in the hands of bears... a rising adx is a sign of the bear strength...

if mdi is below adx and mdi is below PDI... then market is in the hands of the bulls... a rsing adx means bull are aggressive...


Its not who is at the top...but who is at the bottom... that gives us the bias...

So, where does that leave us? As per your suggestion, should we adopt this strategy to take a long only when pdi is above mdi and adx is above pdi? Similarily for short?
Thanks,
Amit

 

[lvgandhi]

not really... using the guppy mma as filter...

will be taking trades supported by guppy only...
that short would hit sl of 20 points...

Can you explain a little bit more?
What do you mean by support by guppy mma?
How do you plot it? What are the parameters?

 

[lvgandhi]

My bad...! The afl was just designed to to allow me to visualise the trades on bar replay, not meant for back testing. hence no short - cover was used. I guess when u back tested this...u didnt get any short signal... and even the buy signals got exited only when system gave a sell...

I wanted to see sell and short are distinguished and sell occurs either at profit point or sl point or short trigger point and according trade profit/loss is determined and similarly for short and cover. Hence my queries.

Can you recode your afl to reflect what I desired in my above post?

 

[linkon7]

So, where does that leave us? As per your suggestion, should we adopt this strategy to take a long only when pdi is above mdi and adx is above pdi? Similarily for short?
Thanks,
Amit

As long as adx is not below both pdi and mdi... its worth taking a trade.