OPEN-SOURCE SCRIPT
Golden Triangle Strategy
Diupdate
Golden Triangle strategy setup is a variation of the buy-the-dip strategy, by Charlotte Hudgin.
You can find the detailed explanation here by Thomas N. Bulkowski thepatternsite.com/GoldenTriangle.html
BUY
===
1. price should be trading above sma50
2. when it touches sma50 first time , check the starting rallypoint of where it initiated
3. from the above point to current close , see if you have white space , then draw the triangle
4. then check for volume confirmation ( current volume should be greater than last 4 ) --- I have slightly changed this to fit into hourly strategy by adding condition close>vwap
EXIT
====
1. Exit when close crossing down sma50 with at least 2% profit (slightly modified original condition)
StopLoss
========
2. stop loss is set to 6%
Warning
=======
For the use of educational purposes only
You can find the detailed explanation here by Thomas N. Bulkowski thepatternsite.com/GoldenTriangle.html
BUY
===
1. price should be trading above sma50
2. when it touches sma50 first time , check the starting rallypoint of where it initiated
3. from the above point to current close , see if you have white space , then draw the triangle
4. then check for volume confirmation ( current volume should be greater than last 4 ) --- I have slightly changed this to fit into hourly strategy by adding condition close>vwap
EXIT
====
1. Exit when close crossing down sma50 with at least 2% profit (slightly modified original condition)
StopLoss
========
2. stop loss is set to 6%
Warning
=======
For the use of educational purposes only
Catatan Rilis
1. I have added "Show All Triangles" parameter --- by default this is turned OFF. what does this mean if a LONG position is taken , next possible Trinagle is not drawn on the chart. If you want to see all Triangles irrespective current LONG position , please check it ON2. Exit Rule has been modified --- Earlier exit rule was close crossing down sma50 with at least 2% profit. Now it has been modified to EXIT when VWAP is crossing down sma50 . This modification has increased the performance , profit factor and decreased number of Bars
3. I have also noticed that for growth stocks/FAANG , increasing the stop loss to 8% will keep you in trade to achieve better profit factor. I tested it for AMZN and AAPL on hourly chart
Catatan Rilis
> Trailing stops has been added ... strategy uses this for Long entries , only when Trend is Up
> Risk capital parameter has been added ... to find out the quantity of units to be purchased based on stop loss units
> initial stop loss line has been added ... purple color line
>comments added in entry and exit ... shows the stop loss value on entry and shows the profit point at exit
> Background color is changed , if the trade is in long position
Catatan Rilis
max_bars_back error fixedSkrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Hormat untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
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