Long at 90.50 on the 17/08/20 Move stop loss to from 83.98 to 85.71. ----------------------------------------------------------------------------------------------------------------------------------------------- Legend: DC(5) Up := Donchian Channels upper band (5 length). DC(6) Low := Donchian Channels lower band (6 length). IntStp(8%) := Initial Stop Loss set at 8% below entry price. PFZone := Exit/profit taking indicator (green diamond).
Entry Rules: 1. Place a Buy Stop at the DC(5) Up Price. 2. If buy stop is filled, place the IntStp(8%). 3. However, if orders are not filled, cancel orders at the end of the trading session.
Exit Rules: 1. At the close of the trading session, if the DC(6) Low is above IntStp(8%), than adjust stop loss to the DC(6) Low price. 2. However, If IntStp(8%) is above the DC(6) Low, then use the IntStp(8%). 3. If the PFZone has been triggered then exit at market on open at the next trading session.
Notes: The Profit Zone indicator is a proprietary indicator designed to improve the performance as an alternative exit rule. However, the strategy is a stand-alone system and does not require the profit zone indicator.