Golden Triangle Strategy

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

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

1. Exit when close crossing down sma50 with at least 2% profit (slightly modified original condition)

2. stop loss is set to 6%

For the use of educational purposes only
Phát hành các Ghi chú: 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 ON

2. 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
Phát hành các Ghi chú: > 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
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

Bạn muốn sử dụng tập lệnh này trên biểu đồ?

Bình luận

Great work: Eager to see Sell only or Buy/Sell script.
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i have tried to add alerts, but it didnt work. Any suggestion?
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mohanee luckyhithasri
when you click the alert icon on TradingView , from the condition dropdown list , select the strategy name. select expiration time to future date and check email option.
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@mohanee, i added an alert in the tradingview, but alerts are not coming through..
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mohanee luckyhithasri
@luckyhithasri, Do you see any alert on the chart ? which symbol you are checking ? what is the time frame ?

if you see alert on chart and you did not receive email notification , may be you need to talk to TradingView support.
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do U have something precise like that but for 5 min intraday scalping?)
Nice script, TY!
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mohanee mrgr888n
@mrgr888n, I have only tested on hourly chart for stocks. You can change different time settings and see if it shows good results ...
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Great script! Thanks for sharing! This reminds me of another uncommon Japanese triangle analysis method: the elimination point. Some people call it a mysterious black hole.
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