Breakout Ninja is a multi-confirmation trend following system that can help traders manage their trades on all chart styles and timeframes. The algorithm uses multiple timeframes to position the user towards higher probability breakouts, creating no-trend zones (marked by yellow candles) where the market appears to be choppy, and providing buy/sell signals (blue candles) when breaking out of a prior structure.
A trend always begins with a breakout of a prior price structure. Breakout Buddy attempts to identify a trend according to the definition, "higher high, higher low," or "lower high, lower low," and tries to keep the trader in the move until that definition is broken (a downtrend ends when price exceeds a prior lower high, and vice versa). Because it is a trend-following algorithm, it must capture large trend winners in order for it to turn a profit over time. It is, of course, best utilized in a trending market condition.
Use the trailing dots as guidance for a stop order exit. It is advised to use the second-closest dot for an emergency trailing stop, and exit when the candle closes yellow (whichever happens first).
Occasionally, price can touch one of the indicator's levels, but fail to close beyond it (rejection). When this occurs, it can provide good risk/reward entries in the direction of the rejection. These candles can show purple and is considered an extra feature for alternative rulesets. This feature can be enabled from settings.
Users can choose between double or triple confirmation for trading signals, toggle buy/sell labels, toggle trade duration shading, define the system parameters, toggle rejection candles, and choose the session time. The indicator will only paint during session hours. Default is 0945-1625 to capture the US cash session while avoiding volatility around the opening range.
Customizable alert scheme for buy/sell, move stop, and price-nearing-breakout warning (possibly useful on higher lookback settings or alternative charting modes) available. Separate alert conditions for buy, sell, close long, and close short also available.
Message us via the link below to gain access.
A trend always begins with a breakout of a prior price structure. Breakout Buddy attempts to identify a trend according to the definition, "higher high, higher low," or "lower high, lower low," and tries to keep the trader in the move until that definition is broken (a downtrend ends when price exceeds a prior lower high, and vice versa). Because it is a trend-following algorithm, it must capture large trend winners in order for it to turn a profit over time. It is, of course, best utilized in a trending market condition.
Use the trailing dots as guidance for a stop order exit. It is advised to use the second-closest dot for an emergency trailing stop, and exit when the candle closes yellow (whichever happens first).
Occasionally, price can touch one of the indicator's levels, but fail to close beyond it (rejection). When this occurs, it can provide good risk/reward entries in the direction of the rejection. These candles can show purple and is considered an extra feature for alternative rulesets. This feature can be enabled from settings.
Users can choose between double or triple confirmation for trading signals, toggle buy/sell labels, toggle trade duration shading, define the system parameters, toggle rejection candles, and choose the session time. The indicator will only paint during session hours. Default is 0945-1625 to capture the US cash session while avoiding volatility around the opening range.
Customizable alert scheme for buy/sell, move stop, and price-nearing-breakout warning (possibly useful on higher lookback settings or alternative charting modes) available. Separate alert conditions for buy, sell, close long, and close short also available.
Message us via the link below to gain access.
Note di rilascio:
Improved calibration, added SL/TP indicator to scalp system.
Note di rilascio:
Scalping mode now has stoploss/take profit labels, which can be toggled on or off by the user.