This strategy based on existng indicator available on TV
If finds the reversals for LONG entries ... I have modified the settings to back test it ...
BUY ==== When the price touches lower band , and tries to close above lower band
some signals are mixed up, you can research and look for a confirmation ...
if the middle band is above EMA50 , you can simply follow the strategy BUY signal but if the middle band is EMA50 , wait for the price to close above middle band
Sell / Close ========== wait for the sell signa OR close when price touches the upper band
How do you want to close , you can chose in settings. Chnage these values and see the performance
Please note , sell means just closing the existing LONG position , not short selling
Stop Loss =========
Stop Loss is defaulted to 6%
This is tested in 1HR, 2HR and 4 HRs chart for SPY and QQQ ETFS ...
for long term investing style , 4 Hrs is the best time frme for this strategy
Warning ======== It is not a financial advise , it is for educational purposes only. Please do your own research before taking any trading decission