The SuperTrend Indicator works very well as long as there is a trend but it will throw away it’s profit in a quiet market, I’d like to run the strategy 24×5, so I’m looking to define a trendless market and make an indicator, such as..
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HighPoint=highest[10](high)
LowPoint=lowest[10](low)
ifHighPoint-LowPoint<10then
NoTrade=1
else
NoTrade=0
endif
returnNoTradeAS"No Trade"
The problem is that will stop the market from trading until after a move has taken place and the market range has increased above the minimum (i.e. 10 points)
I’m talking about quiet fast chart resolutions (less than 30s), with which the normal Strength and Momentum indicators don’t seem to work as well.
Indicators need informations to be drawn, so price must be out your range boxes before giving you a useful trigger to relaunch trades operations.
Maybe you should use another strategy into your strategy whenever the market is ranging, defined by your high/low boxes. Breaking out those boxes is obviously nothing else than testing if price has piercing their highest and lowest values.
Thanks Nicolas, I think a confirmation from a slower SuperTrend would help (i.e. if running 5s, get trend confirmation from 30s/1m), is it possible to do that?
That’s a good idea. I were thinking of that in a first instance. It is somehow often more reliable to stay in position than exit while in profit, in trend trading because of market whipsaw.
Though be aware that you cannot do autotrade in less than 1 minute timeframe in ProOrder.
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