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LongTail PinBar Strategy
Version 1
The "Longtail Pin Bars STRATEGY" goes to the next level of the Longtail Pin Bars SHOWME. It is designed to automate the trade that you normally take with a profit target and stop already built in. This strategy has been tested for many years based on the simplicity of the Long Tail Pinbar. Pin Bars are a well known trading pattern with a fundamentally sound philosophy behind them... The idea is that the price started out one way and could not quite follow through as traders pushed the price back the other direction. The Longtail Pin Bars STRATEGY is simple... As soon as a "Pin Bar" occurs a trade is taken either immediately on the open of the next bar OR half way down (or up) the Pin Bar itself (you choose via input parameter setting). A hard profit target and stop loss IS PROVIDED that you may toggle ON or OFF and adjust the value in Dollar amount per trade. If you so choose, you can turn them off completely and add any other of TradeStation's stock exit strategies as you deem viable...
The "Longtail Pin Bars STRATEGY" goes to the next level of the Longtail Pin Bars SHOWME.
It is designed to automate the trade that you normally take with a profit target and stop already built in.
This strategy has been tested for many years based on the simplicity of the Long Tail Pinbar.
Pin Bars are a well known trading pattern with a fundamentally sound philosophy behind them... The idea is that the price started out one way and could not quite follow through as traders pushed the price back the other direction.
The Longtail Pin Bars STRATEGY is simple... As soon as a "Pin Bar" occurs a trade is taken either immediately on the open of the next bar OR half way down (or up) the Pin Bar itself (you choose via input parameter setting). A hard profit target and stop loss IS PROVIDED that you may toggle ON or OFF and adjust the value in Dollar amount per trade. If you so choose, you can turn them off completely and add any other of TradeStation's stock exit strategies as you deem viable. The settings are NOT meant to be a "set and forget" target and stop as this strategy can be used on ANY market and time frame which, of course, will require exit settings conducive to the particular market(s) being traded.
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Developer
Requirements
Tradestation 9.5 (Update 22)
Support Documents
Asset Type
Stock, Future, Forex, Option
Style
Intraday
Methodology
Counter Trend
Analysis Techniques
Applications
Categories