REVERSALS
- The systems basically play reversals, it enters when the close is lower than its low of 5 bars ago to enter
- It exits when the price is higher than the high of 5 days ago
- Uses a 200 MA as a market filter, does not trade when the price is below its 200 Moving average
- Uses a 5% stop, as per the red Stop Loss Line -- can be adjusted
The amount of bars it uses to look for reversals is set to 5 by default, but can be adjusted in settings.
Best to use on directional instruments where you know that the long term direction is up, for example:
TQQQ, SSO, SPX, SPY, or sector tickers -- but it would be best to include some more advanced filtering for sectors