OPEN-SOURCE SCRIPT
Fractal Proximity MA Aligment Scalping Strategy
Updated
Fractal Analysis
Moving Averages for Confirmation
Exit Strategy
This open-source strategy is available for the community to test, adapt, and utilize. Your feedback and modifications are welcome as we refine the approach based on collective user experiences.
- Fractals in trading help identify potential reversal points by marking significant price changes. Our strategy calculates a "fractal value" by comparing the current price to recent high and low fractal points. This is done by evaluating the sum of distances from the current closing price to the recent highs and lows. A positive fractal value suggests proximity to recent lows, hinting at upward momentum. Conversely, a negative value indicates closeness to recent highs, signaling potential downward movement.
Moving Averages for Confirmation
- We use a series of 20 moving averages ranging from 5 to 100 to confirm trend directions indicated by fractal analysis. An entry signal is considered bullish when shorter-term moving averages are all above a long-term moving average, aligning with a positive fractal value.
Exit Strategy
- The strategy employs dynamic stop-loss levels set at various moving averages, allowing for partial exits when the price crosses below specific thresholds. This helps manage the trade by locking in profits gradually. A full exit might be triggered by strong reversal signals suggested by both fractal values and moving average trends.
This open-source strategy is available for the community to test, adapt, and utilize. Your feedback and modifications are welcome as we refine the approach based on collective user experiences.
Release Notes
Changed quantitiy mode to percentageOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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