Swing High/Low Scalping System

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  • 02/22/2020 at 7:09 PM #120221 quote
    turfed
    Participant
    Average

    Hi all. I came across what seems like a simple strategy on twitter (@nextSignals) but unsure if it is something that could be coded on prorealtime.

    I’ve had a search through the many indicators and strategies on here but haven’t found anything similar. Below is the text of the tweet and a screen grab illustrating the strategy.

    “This algo waits for a confirmed swing high/low and then delays ENTRY until price moves correctly another 1.75 pts lower/higher. The strategy only pursues a two-point scalp, thus EXITING 2 pts after entry.”

    Any thoughts or help would be appreciated.

    Screen-Shot-2020-02-22-at-18.01.36.png Screen-Shot-2020-02-22-at-18.01.36.png
    02/22/2020 at 7:16 PM #120223 quote
    Vonasi
    Moderator
    Master

    What instrument is it traded on?

    How is a swing high or swing low defined?

    What is the stop loss?

    02/29/2020 at 11:49 AM #120841 quote
    turfed
    Participant
    Average

    Hi Vonasi, thanks for your response.

    It is the SP500, swing high /low and stop loss are not defined, nor stop loss.

    There are several coding examples on prorealcode for swing high / low, what is stumping me is how to code the entry point where price moves higher / lower following the swing point.

    Would you have any ideas on this?

    02/29/2020 at 5:21 PM #120861 quote
    Vonasi
    Moderator
    Master

    I asked about how the swing high/low are defined because they do not seem consistent on the chart you posted.

    Once you have identified your swing high/low you should then place a limit order at the price you want to go long or short at.

    buy 1 contract at close + 1.75 limit

sellshort 1 contract at close - 1.75 limit

    You will need to place these orders every bar as they only last for one bar.

    I’m not sure what the normal minimum order distance is on the SP500 but you may find that orders only 2 pips from price will be rejected by your broker.

    Without a stop loss the strategy is just a one way road to the poor house.

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Swing High/Low Scalping System


ProOrder: Automated Strategies & Backtesting

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turfed @turfed Participant
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This topic contains 3 replies,
has 2 voices, and was last updated by Vonasi
5 years, 12 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 02/22/2020
Status: Active
Attachments: 1 files
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