PopGun Indicator with TradingZone

PopGun Indicator with TradingZone

A popgun is a well-known chart pattern consisting of 3 candles. 2 outside candles that completely enclose an inside candle with its highs and lows.

For the sake of simplicity, the breakout is traded in the trend direction which is determined by the 2nd outside candle. This is where the impulse wave according to the Elliot Wave Theory comes into play. The breakout is determined when the high or low of the 2nd outside candle is exceeded within the next 5 candles. There is a little or no dispute about this.

The difficulties are determining in the target!
The question arises whether to use points in general or points or a percentage of the price of the value or as a percentage of the 2nd outside or even as a percentage of the 1st outside candle or even more so according to some other target profit or a trailings stop or or or….

Here we worked with percentages of the 2nd outside.
The author means that one jumps into the impulse coming from the 2nd outside and then takes the impulse over a certain “distance”, e.g. from 25% of the range of the 2nd outside to 50% of the range of the 2nd outside. Cause PopGuns can be traded in all markets and all time frames, so you can take this “distance” very often.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Chrisinobi • 01/23/2023 #

    Hallo John, dein Indikator gefällt mir wirklich gut, kannst du ein Alarm mit einarbeiten auf den Pfeil oder vielleicht noch einen Screener daraus machen ???? Das wäre Richtig Perfekt !!!!

  2. JohnScher • 01/23/2023 #

    For a long time now, however, I have been involved only now and then with with popgun indicator, screener and strategies…….
    look at this
    https://www.prorealcode.com/topic/pg-screener/
    ( everytime with the medikit of roberto)

    coded Strategy will follow soon

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