This trading script is a trading strategy that is made up of 2 public indicators so credit goes to LuxAlgo and Jose5770. I have the 2 indicators listed below.
1) Moving Average Converging (LuxAlgo) 2) QQE Threshold (Jose5770)
This trading strategy is buying when the two indicators align, and then the take profit is the first red bar on the QQE Threshold histogram. It is not a set risk reward but instead a variable take profit strategy. I have the rules of the strategy listed below in order of how it works.
Long Position : 1. Wait for Moving Average Converging to be green 2. Candlestick is green from the QQE Threshold indicator 3. QQE Threshold histogram is green as well, then it enters the trade once we have these criteria met. Take profit is the first red bar on the QQE Threshold histogram that appears and the trade will close.
Short Position : 1. Wait for Moving Average Converging to be red 2. Candlestick is red from the QQE Threshold indicator 3. QQE Threshold histogram is red as well, then it enters the trade once we have these criteria met. Take profit is the first green bar on the QQE Threshold histogram that appears and the trade will close.