Dr. Alexander Elder Triple Screen Trading Strategy
Alex Elder is a trading teacher and writer.
Today I stumbled upon one of his strategies which I find very interesting.
It relies on 3 different time-frames screens for your entries condition.
The Market Tide is using a weekly indicator and we will only trade in its direction. Here we use the MACD histogram.
The Market Wave is using a 2 days oscillator to detect waves going against the Market Tide.
The third screen is intraday and used to find entries: when screen 1 and 2 are valid, we will look for a breakout.
We use previous day high and low as level for triggering our entry.
Maybe one day I will automate this system.. what do you think ?
/!\ Please note that without a good psychology and money management, a trading system is useless.
Today I stumbled upon one of his strategies which I find very interesting.
It relies on 3 different time-frames screens for your entries condition.
The Market Tide is using a weekly indicator and we will only trade in its direction. Here we use the MACD histogram.
The Market Wave is using a 2 days oscillator to detect waves going against the Market Tide.
The third screen is intraday and used to find entries: when screen 1 and 2 are valid, we will look for a breakout.
We use previous day high and low as level for triggering our entry.
Maybe one day I will automate this system.. what do you think ?
/!\ Please note that without a good psychology and money management, a trading system is useless.
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Discord Server: discord.gg/RVwBkpnQzm
I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/
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