cyatophilum
Education

Dr. Alexander Elder Triple Screen Trading Strategy

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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.
Feb 14
Comment: The automated strategy is here!
Backtest + Alerts
https://blockchainfiesta.com - Automated Strategies with Backtest and Alert Setup

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I am taking PineScript Commissions ✔

Comments

thanks for sharing - i think the concept here should be described as a "must-have habit" rather than a specific strategy - a trader should always look at the longer time frame for the general direction / sentiment, then your usual trading time frame to pick and design the trades - always in the direction of the prevailing sentiment - the a smaller time frame for deciding best entry and exits. you can do wk/day/hr -- or day/hr/5mins...etc

when i started doing this (think i got it from the same source, also Elder's) my trading changed dramatically .. so thank you for socializing this important concept .. great job! it's awesome to be able to see these charts side-by-side in TradingView.
+2 Reply
super stuff !
+1 Reply
Oh thanks for correcting me!

Yes, as your mentioned 3 different time-frames screens for your entries condition
+1 Reply
That 3 strategies are awesome; thanks for the post =D
+1 Reply
It's not 3 strategies, it's single strategy on 3 different timeframes @ICEKI
+1 Reply
kendismann cyatophilum
@cyatophilum, How to download these charts layout?
+3 Reply
cyatophilum kendismann
@kendismann, I don't think you can download chart layouts, but I can share my chart.
Here is the link:
https://www.tradingview.com/chart/B9Ro3j3k/
Reply
kendismann cyatophilum
@cyatophilum, Thank you, but what I wanted to use layout for my stocks, as I use elder triple screen.
Reply
geojoe kendismann
@kendismann, $30/mo or two screens for $15/mo. I tink
Reply
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