If you are new, or just looking for guidance, here are some helpful links to get you started. That being said Bro! After a big loss in options trading, he decided to take a break and do some research on ways to better his trading game. You can login with twitter below to verify your age. Optimization of a set of 31 items based on expert reviews of the initial pool of items (the authors evalu- Outside bar represents a reason for future and immediate time frame broadening formation of price behavior. The Three Universal Truths to Trade on While Strat Trading: Jermaine says that the three things known to be true while. We get it. Trend trading is a style of trading that attempts to capture gains when the price of an asset is moving in a sustained direction called a trend. Continue with Recommended Cookies, The Strat: the only Strat indicator you will ever need. Using quantitative analysis that breaks down price action by timeframe continuity, actionable signals, and price discovery broadening formations, The STRAT has been shown to amplify trading results for both short and long-term traders. Unresolved: Release in which this issue/RFE will be addressed. No other finance app is more loved, Custom scripts and ideas shared by our users, Following from the smaller scale charts posted previously, weekly scale shows 2 triangles in action from outside bars. Our forum can be intimidating, if not overwhelming. Other chart patterns perform much better. Outside bars represent a possibility of a broadening formation. The script displays a label, direction arrow, and trigger line for each Strat Combo. These formations are relatively rare during normal market conditions over the long term,since most markets tend to trend in one direction or another over time. A stock opens and GAPS up or down and there is no fill in between. Simple fix is to remove your "=" references in the code. Jermaine says that he sometimes even stops at a $10 loss and calls it a day, until tomorrow. Great for families and/or active people! She is a library professional, transcriptionist, editor, and fact-checker. The charting method has three major elements; Major direction, candle analysis and conclusion of price direction. DARMOWY dostp do eBooka! I set it up to buy two calls, and I set a total risk for the trade of $60. These cookies will be stored in your browser only with your consent. Hanging Man == gold (Bullish). If you want to tell me I'm wrong, fine. Read more in the Terms of Use. We do not recommend the use of news as a sole means of trading decisions. Sofien Kaabar, CFA. Check out these articles: // Purpose: Displays: (1) The Strat candle numbers, (2) The Strat Combo labels and trigger line, // (3) Pivot Machine Gun (PMG) dynamic labels (4) Hammer and Shooter candle labels, // Setup = the first two bars of a three bar combo before the third bar has formed (before timeframe of third bar), // Potential = the first two bars of a three bar combo and the third bar is a one (during timeframe of third bar), // Inverted Hammer == silver "" (Bearish), ///////////////////////////////////////////////////////////////////////////////// INPUTS, // i_length = input.int(defval=20, title="Length Days", minval=1, maxval=20, group=GP1), // i_mov_avg_function = input.string(defval="SMA", title="Moving Average Function", options=["RMA", "SMA", "EMA", "WMA"], group=GP1), ///////////////////////////////////////////////////////////////////////////////// FUNCTIONS, ///////////////////////////////////////////////////////////////////////////////// Average True Range, // Use different moving average functions to calculate ATR, ///////////////////////////////////////////////////////////////////////////////// TheStrat's 1's, 2's, & 3's, // https://kodify.net/tradingview/bar-data/close-higher-lower/, // https://www.pinecoders.com/faq_and_code/, // https://www.tradingview.com/pine-script-docs/en/v4/annotations/Plotting_shapes_chars_and_arrows.html, ///////////////////////////////////////////////////////////////////////////////// Strat Combos, // three-red; two-down-green; two-up-green, // ones[2]; two-down[1]; low[1] < low[3] (broadening formation); two-up-green, // ones[2]; two-up[1]; high[1] > high[3] (broadening formation); two-down-red, ///////////////////////////////////////////////////////////////////////////////// The Strat Combo Box Labels, // Don't show 22 BLR inside Rev Strat Bullish, // Don't show 22 BRR inside Rev Strat Bearish, // double_inside_bars = (low[2] < low[1] and high[2] > high[1]) and ones[1] and ones, // Only plot shape when double inside bars have stopped occurring (This prevents unncessary plot shapes), // When a double inside bar occurs, always draw trigger lines, // pivot machine guyn is 5 or more consecutive higher lows or lower highs on any time frame, // Loop over last 12 bars and check if conidtions meet PMG criteria, // If a PMG has occurred, start tracking the start bar number, // Delete previous PMG box (if there was one), // Draw horizontal lines on high from beginning of PMG bar, // Draw horizontal lines on lows from beginning of PMG bar, ///////////////////////////////////////////////////////////////////////////////// HAMMERS & SHOOTERS, // https://commodity.com/technical-analysis/hammer/, // https://commodity.com/technical-analysis/inverted-hammer/, // https://tradingsim.com/blog/shooting-star/, // https://commodity.com/technical-analysis/shooting-star/, // https://commodity.com/technical-analysis/hanging-man/. The strat is a price action based trading method The objectivity means that there is NO guesswork when trading. With small accounts, you dont hold losers. The broadening pattern is often used by traders who trade technical analysis. Broadening Formation. Broadening Formations, Right-Angled and Ascending: Time Performance The above table shows the performance of right-angled ascending broadening top chart patterns in bull markets over the last three decades. Others suggest a reversal is near. We get it. Major conclusion of the trading method is based on time frame continuity. A broadening formation is an example of a consolidation pattern and a highly useful tool in the prediction of the likelihood of a reversal in the direction of a current trend. BROADENING FORMATIONS (1ST DRAFT) This study will only find 1-3 combos and extend diagonal lines outward. Where did I get 3948.75 and 11927.50? Cassie taken by Me! I have made all the changes in the code and logic be reflected in edits to my previous posts. WICKS 1 - Top wick / high / very top of the candle The highest price the stock trading during the given time frame of the candlestick This tells you that buyers are present. Please verify your age. We are well aware of how awful this user interface is. Also looking for time continuity with these stocks; that daily, weekly, monthly, yearly are green or red to give me a directional bias. 212 Bearish Continuation . Twitter @rickyzane85. See More. Benzinga, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Another great way to ensure small losses when option trading is to avoid options where the spread collapses beneath you. For example, a swing trader may identify abroadening formation and enter long positions when the price hits a lower trendline and/or short positions when the price hits an upper trendline. The first was a one-minute candle trail, so if the price of BYND broke the low of any prior one-minute candle, it would exit. I posted something similar last week, but I thought it was worth sharing this again. But opting out of some of these cookies may affect your browsing experience. check daily chart. At these time frames, broadening formations tend to be more frequent. Technical analysis experts usually use candlestick charts to view stocks. A PMG can continue going in its direction or it can reverse and come back through the range. Additional Strat Info (newly added material to course) Broadening Formation What timeframes and Why (promised I'd add this back on 8/18) (67:24) Broadening Formations and New Script that is Helpful (17:15) Better way to backtest for multi chart backtest (11:29) The second was what we call profit preservation, where, having made money on th, In early April, my trading account was around $350. These can be easily identifiable when you notice choppiness around the greater outside bar. politeja 43 Maciej Bachryj-Krzywania Mikoaj Czenik Anna Duda Mirosaw Dymarski Jzef Fiszer Katarzyna Idkowska Agnieszka Kamiska Marcin Kamiski Agnieszka Magorzata Kastory Roman Kisiel Wiktor Marzec Maciej Milczanowski Tomasz Mynarski Kamil Mroczka Andrzej Polus Mirosaw Sadowski Monika Sawicka Dominik Sieklucki Anna Skrzype This week, the $QQQ ETF closed at $309.38 (-1.24%), and much like the $SPY, went outside (3) for the week. Hammer that counters/turns into a shooter, Whole day is inside candle from prior day, Whole week is inside candle from prior week, How far a price run is or the price target, Company or an individual that quotes both a buy and a sell price hoping to make a profit on the bidask spread, Rob Smith saying look for the GAP on these it might fill, when a price breaks above or below the previous candle high or low from the open used on 15, 30, or 60 mins from open, the high price of a stock from the opening range 15/40/60 mins from open breaking to the upside, the low price of a stock from the opening range 15/30/60 mins from open breaking to the downside, Traders who trade 4+ day trades over the span of 5 business days on a margin account get their account flagged with this, Stock trading before the market opens 9:30AM EST, Trend pivots the other way taking out several highs or lows of other candles, Candle that looks like a gun or upside down T, moving average calculated by adding recent prices and then dividing that figure by the number of time periods, Flip of the time interval to produce a new candle, corrective pullback/activity - a wedge or triangle shape of the recent candles, statistic used by traders to determine what the average price is based on both price and volume, Above the reversal / continuation entry to the upside and below the reversal / continuation entry to the downside, Gamble play, risky but very rewarding, usually a fast expiry, 1 - Top wick / high / very top of the candle, The highest price the stock trading during the given time frame of the candlestick, 2 - Bottom wick / low / very bottom of the candle, The lowest price the stock trading during the given time frame of the candlestick, The price of the stock at the open of the given time frame (top or bottom of the fill depending on the color, more below), The price of the stock at the close of the given time frame (top or bottom of the fill depending on the color, more below), 3/4 The open was lower than the close, it opened at the bottom and closed at the top (price went up), 3/4 The open was higher than the close, it opened at the bottom and closed at the top (price went down), 1 Candle / Inside Bar / Inside Action / Consolidation / Sideways, Occur when the current candle falls completely within the prior candle, Balance, equilibrium, buyers and sellers agree on price, no one is in control, trying to determine where price is going next, Never trade a one bar, wait for the consolidation to stop then it's time to get into a trade, 2 Candle / Directional Bar / 2 Down / 2 Up, Occur when the current candle takes out one side of the prior candle, A 2 down means it took out the previous candle's low, but failed to take out the high, A 2 up means it took out the previous candle's high, but failed to take out the low, Sellers are selling it down or buyers are buying it up but not both, a 2 can turn into a 3, but never a 1, The market trades in the direction of the most 2's, but only trade 2's with continuation, 3 Candle / Outside Bar / Discovery Candle / Mother Bar, Occur when the current candle takes out both sides of the prior candle, Price discovery starting over, buyers willing to buy it up, sellers willing to buy it down, choppiness, Never trade a mother bar, price discovery is happening, wait for further confirmation one way or anther, Price direction is best determined when looking at multiple time frames rather than lagging indicators or moving averages, When all time frames point in the same direction in either direction, or Full Time Frame Continuity, is the ideal trading situation, Simplest explanation is = it's a compound 3 bar, Just pick a high, draw the line to a higher high, Bars should be more FLAT than not, otherwise mostly inside action (which is fine, but if you are looking for trends start flatter), Increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling, It usually occurs after a significant rise, or fall, in pricing action. Likewise, the outside bar is where the subsequent bar's high and low both exceed the prior bar. An inside bar is where the subsequent bar is completely within the preceding bar, not equal to. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. @RobInTheBlack. In this episode of How To Trade It, Casey talks candidly with Rob about the Broadening Formation and his famous creation, The Strat.
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