TradingView
PtGambler
30 Jun 2022 pukul 18.47

[Pt] Premarket Breakout Strategy 

SPDR S&P 500 ETF TRUSTArca

Deskripsi

This is a 1 trade per day strategy for trading SPY or QQQ index. By default, this is designed for 1 min time frame. This was an experimental script that seems to be profitable at the time of publication.

How it works:
Pre-market high and low is defined per trading day between 9:00 to 9:30 EST.
Then we looking for the first breakout on either PM high or PM low.
- Breakout high = long trade
- Breakout low = short trade
If long trade, we wait until Stochastic RSI D signal line to hit a lower threshold (18 by default). Then we enter long when K crosses above D line.
If short trade, we wait until Stochastic RSI D signal line to hit an upper threshold (82 by default). Then we enter short when K crosses below D line.

Stop loss for long
- set to PM low if entry is above PM high + %ATR buffer
- or set to PM range + %ATR buffer

Stop loss for short
- set to PM high if entry is below PM low + %ATR buffer
- or set to PM range + %ATR buffer

Profit target is set to 2x the risk by default.

*Note: Different Stochastic RSI lengths should be used if trading 5 min time frame. See tooltip.


Happy trading~~!
Komentar
KasikaTheWealthy
Hello sir @PtGambler .. Where can we find the stochastic rsi?
PtGambler
@KasikaTheWealthy, TradingView has a built-in one that you can use.
KasikaTheWealthy
@PtGambler, Been searching for it with no success. I especially liked the (small/big) triangles. Would you please kindly drop a link to the built in of tradingview? Hopefully it looks like the one you used here. Thank you very much.
PtGambler
@KasikaTheWealthy, i'd love to publish the one I use, but the moderators probably will take it down as there are many similar ones out there. Try this one tradingview.com/script/pHXGS6bW-Stochastic-RSI-with-Crossover-Arrows/
KasikaTheWealthy
@PtGambler, Thank you very much for your time. I will give it a try.
sam45445
what do i have to take out from the code so its just the pre market entrys and this stoich atr thing
cghursh
Great work on this! For some reason, short postions arent entering? Im using 5 min and have tried other timeframes and havent adjusted anything. Curious if I need to do something so that shorts as well as long trades appear? Thanks.
PtGambler
@cghursh, hmm im seeing some shorts, you shouldn't have to adjust anything. If the price breaks below premarket low, the script should try to look for shorts
kailokli97
Hello @PtGambler thank you for the share
may i ask how come there are some days that the order entry didn't take place all the way until 11ish? e.g. on july19th?
PtGambler
@kailokli97, thanks for the question. First i assume you are using it on 5min chart. Second, there are typos under the "entry parameters" in properties. It should say Stochastic D instead of K. for Short entries, it should be above 82 and Long entries below 18.
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