MinorPivot System
Posted: Sun Jan 15, 2017 7:58 pm
Hi everyone,
A while ago I watched a webinar of Earik sharing a system that used SmartMoneyColorBars and Minor pivots to find a good entry for a breakout of the candle's minor pivot and thus produce a trend continuation.
I then had the idea that instead of waiting for the breakout, it could be better to follow the pullback until a candle closed below/above the previous one without SmartMoney changing its color (accepting black as the same color). Then the trade would be opened and closed after the first profitable open or 3 unprofitable opens. I normally use SmartMoney with lenghts of 32 or 64 depending on the market, it will be nice to run some optimizations to find the best values for a particular market. The bars can be either blue, red or black so when black they are valid with the last color. I first only traded once every time SmartMoney changed color but I found out that it works well all the time.
I've been trading this system discretionary and results are great, I first started trading it intraday and although it works well It struggles a bit more to weather comissions and slippage than daily charts. I know it can help perform better some systems of the community so I would like to share it, If anyone has the ability to code it will be much appreciated
A while ago I watched a webinar of Earik sharing a system that used SmartMoneyColorBars and Minor pivots to find a good entry for a breakout of the candle's minor pivot and thus produce a trend continuation.
I then had the idea that instead of waiting for the breakout, it could be better to follow the pullback until a candle closed below/above the previous one without SmartMoney changing its color (accepting black as the same color). Then the trade would be opened and closed after the first profitable open or 3 unprofitable opens. I normally use SmartMoney with lenghts of 32 or 64 depending on the market, it will be nice to run some optimizations to find the best values for a particular market. The bars can be either blue, red or black so when black they are valid with the last color. I first only traded once every time SmartMoney changed color but I found out that it works well all the time.
I've been trading this system discretionary and results are great, I first started trading it intraday and although it works well It struggles a bit more to weather comissions and slippage than daily charts. I know it can help perform better some systems of the community so I would like to share it, If anyone has the ability to code it will be much appreciated