Trend Sniper is using long term EMA trends to find entries on as low as 30s charts or higher time frames. It’s targeting pullbacks in uptrend when market is above EMA 200(ver1) or looking for downtrend reversals when there is bearish market under EMA 200. Both buying conditions can be turned on at the same time.
https://www.tradingview.com/script/JNxNAROZ-Trend-Sniper-Star/
If you want to scalp, it’s preferred to trade small and fast time frame charts to get more trades since we are trading really long trend lines, bigger frames (30m,1h) work even better, but buying strategy stops being scalper and you get long swing strategy or day trading style.
You also get this strategy with DCA version.
https://www.tradingview.com/script/NzK9bhXn-Trend-Sniper-w-DCA-Star-bots/
Set your inital capital and pyramiding in properties tab, order size % and DCA size % is changed under DCA section.
Your first buy order is pyramiding 0 or 1. To allow it to buy 1 DCA or merge one time, set pyramding to 2.
Want to DCA 10 times? Set pyramiding at 11. (+1)
Not all platforms support DCA alert signal trading, you can also merge the same position size over and over again if you set DCA order size to 100 (%).
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What is Trailing-Take-Profit (TTP)
In one sentence – Trailing-Take-Profit allows you to set your Trailing-Stop-Loss to trigger only after a certain profit.
Meaning, it follows the uptrend and sets to close the position above a specific profit and below a defined loss. In other words, by setting a TTP, one can make sure that the profits made during the rising of the asset are secured, before the price goes down, deleting the profits.
The advantage of TTP on TSL is that Trailing-Stop-Loss may close the position following a downtrend that occurs immediately after the entry, missing potential profits. Trailing-Take-Profit, on the other hand, will not close the position until the target profit was reached. Only once the specified profit was reached, the trailing-stop will get into action and close the position when a specified loss occurs.
What is ATR
Average True Range (ATR) is the average of true ranges over the specified period. Indicator measures volatility, taking into account any gaps in the price movement.
ATR is very useful for stops or entry triggers, signaling changes in volatility. Whereas fixed dollar- point or percentage stops will not allow for volatility, the ATR stop will adapt to sharp price moves or consolidation areas, which can trigger an abnormal price movement in either direction. We are using multipler of ATR, such as 1.5x ATR, to catch these abnormal price moves.
Strategy is entering positions once per closed bar. Take Profit, Stop Loss, Trailing – every tick.
By using Star Bots Trading Algorithms, you agree with the terms of EULA and consent to be bound by them. You use the Trading Algorithm at your behalf and at your own risk. Star Bots is not responsibile or liable for your’s direct or indirect losses, damages, costs and expenses. You are not allowed to edit, copy, reproduce, distribute, resell, use the Trading Algorithm for signalling services, copy-trading or otherwise use the Trading Algorithm for your own or other’s interests or for any commercial purpose. If such or any other breach of EULA occur, you’re contract will be terminated immediately and you are obligated to stop all access and use of this Strategy.
