First thank you to roonius for the SlingShot indicator and to Gumphrie for the TriggerLines indicator.
I just downloaded these indicators an hour ago but already wanted to share what I have found. I think these two indicators can be very useful.
Let me apologize in advance for my horrible chart mark-up skills, I don't know how people create great charts so I've just used the tools I know how to use without breaking out Photoshop.
I've taken a 275 tick chart on the ES for this particular example, although I played around and other time frames work as well.
SlingShot settings of 10 (fast), 80 (slow), both HMA. TriggerLines settings of 20 and 8.
If you get confirmation from both indicators, you then enter the trade. Your target is 2 points with a small stop. I use 2 points for this example because it is a very small timeframe. I think larger time frame will reward you with larger gains.
I will try to build a strategy around this, but I am having a lot of trouble with Ninja backtesting any strategy using tick level data for any useful period of time (1 year or more). I may have to revert to 1m data.
I'd love to have some feedback. One thing I will volunteer as feedback right up front is that if you take the trades only as TriggerLines indicates, and ignore SlingShot all together, the results are the same in this particular example, but I always need at least one confirmation to enter a trade.
Comment