My current hourly strategy.This is the strategy I've been using lately to trade FTM and ONE on the hourly chart.
1. Price is below 200 EMA.
2. ATR down trend.
3. Bollinger Band squeezed.
4. Price crossed below EMA ribbon.
5. WaveTrend Reversed down.
Over the past 50 trades, this strategy has won 33 times and lost 17 times.
I usually use 1:1.5 RRR but for this particular trade and others with the same congruence and strength I would go up to 1:2.
You may even consider taking 50% at 1:1.5 and 50% at 1:2.
Wavetrend
4H BTC Waves+ Signal charting, full blindFully blind signal charting followup for Waves+, BTCUSD 4h.
All horizontal lines/signals were plotted with the candlestick chart hidden and not visible. Additionally, this time, all directional trades and exits were determined with the chart hidden.
Additional signal explanation and rationale is detailed in yellow text, annotated on the chart/indicators.
8/10 Trades closed in profit (green checkmark). 2 Trades marked with red X were below 2% profit margin, and are considered a loss unless high leverage is used.
Setup/configuration:
Initial setup with Waves+, DOSC (Derivative Oscillator) with signal line disabled. 1-2 bar delay on signals to provide accurate/realistic demonstration of entries/exits (on bar close).
Waves+ has the LSMA line enabled (dark blue).
Waves+ is a hybrid wavetrend fibbonaci oscillator.
Waves+ components:
Light blue line = Waves line
Dark blue line = LSMA line
Red line = Mmenosyne follower (fib line with medium speed)
Green line = Mmenosyne base (fib line with slow speed)
Shaded yellow zone = Explosion Zone warning (Ehler's Market Thermometer)
Red/green center dots = TTM Squeeze Loose Fire(red), TTM Squeeze Strict Fire (green)
Lower dotted line = 38.2 fib line
Upper dotted line = 61.8 fib line
Lower dashed line = 25 wavetrend limit
Upper dashed line = 75 wavetrend limit
Blue 1/2 height block = suggested TP from short/drop incoming 1-2 bars
Orange 1/2 height block = suggested TP from long
Chart markup:
solid green = buy/long signal
solid red = sell/short signal
dashed red = early sell/short signal
dashed green = early buy/long signal
dashed orange = suggested exit from long signal
dashed blue = suggested exit from short signal
Trades closed in profit/loss, no stops, marked up on chart:
Trade closed in profit = green checkmark
Trade closed at a loss = red X.
Trades that are less than 2% in profit will be considered a loss for scalping unless leverage is used.
Incremental for this blind signal test will be documented below/updated as part of the trade idea/post.
Waves+ signal charting, partial blindExample charting of signals from Waves+ with a partial blind - all horizontal lines/signals were plotted with the candlestick chart hidden.
A full blind test with long/short signals plotted before the candlestick chart isn't hidden is in order - I'm fully aware that this potentially isn't realistic with the results on the signals due to them being placed after the fact - and I'm aware of that.
This was merely a first step - nothing more. A few of these trades are easily invalid due to the fees being high - without leveraged positions, the profit percentage here is slim.
down red arrow = short
up green arrow = long
green checkmark = position was closed in profit if you closed on that bar
red X = trade closed at a loss
orange horizontal line = early sell/short signal, or early exit from long signal
blue horizontal line = early buy/long signal, or early exit from short signal
Charts:
Release: [AU] Waves+Plus version of Waves with components from both Waves Advanced and Mnemosyne. Essentially, Waves+ is highly configurable hybrid wavetrend oscillator and Fibonacci oscillator.
Pictured to the left are the various indicators that represent incremental steps/advancements toward the development and eventual refinement of a hybrid wavetrend fib oscillator.
Waves+ is available as part of the AU indicator set - contact for trial availability and pricing.