Core Indicators
EMA
Latest Update
August 12, 2024
New UI?
No
Optional Indicators
ADXRSI
This strategy combines a dual moving average crossover with RSI and ADX filters to generate trading signals. The strategy is designed for both trend-following and momentum-based trading, providing flexibility to suit different market conditions.
Key Features
- Moving Averages: The strategy uses a short-term and a long-term exponential moving average (EMA) to identify potential trend reversals. A crossover of these EMAs triggers buy or sell signals.
- RSI Filter: The Relative Strength Index (RSI) is employed to filter trades based on overbought and oversold conditions, preventing entries in potentially exhausted markets.
- ADX Filter: The Average Directional Index (ADX) can be enabled to further filter trades, ensuring that positions are only taken in markets with sufficient trend strength.
- Take Profit Management: The strategy offers a dual take profit mechanism:
- TP1 (Primary Take Profit): A configurable percentage of the position is closed upon reaching TP1, which is considered a successful trade.
- TP2 (Secondary Take Profit): Optionally, the remaining portion of the position can be managed towards a second take profit level, with a dynamically adjusted stop loss to protect profits.
- Stop Loss Management: Stop loss levels are dynamically adjusted after TP1 is hit to secure gains while allowing the remaining position to run.
Important Notes
- Success Tracking: The strategy is designed to count a trade as successful once TP1 is hit, regardless of the outcome of TP2. This ensures a clear distinction between primary success and additional profit potential.
- Configuration Flexibility: Users can choose to enable or disable the second take profit (TP2) through a simple checkbox in the settings, allowing for adaptable risk management.
Disclaimer
This strategy has not been fully backtested across all market conditions and timeframes. While it is designed with robust principles in mind, users are encouraged to perform their own backtesting and validation before deploying it in live trading.