ucsgears

UCS_S_Steve Primo - Strategy 4

5754 61 308
From Now, i will list strategies as UCS _S_ & Indicators will be UCS_I_

This is a short term Pullback / Bounce Strategy. Recommend using this on Daily Chart . Option strategies that work the best are (weekly options credit spread).
Further advanced traders can take advantages with Gamma Scalping on low IV.

Few more revision are planned
Rev 1. Add stoploss and target signals
Rev 2. Conservative Trade Entries.
Rev 3. Customized Settings for trading short and long term, with signals only plotted on daily chart .

For further understanding - https://www.youtube.com/watch?v=6tvigvpNJdI

This revision is from 2011. There are more information and hints on the recent versions, it seems. I do not own this strategy. I did not create this strategy. For further information and the current version -

http://www.protraderstrategies.com/stock-strategies/stock-momentum-trader-strategy-course/

Myself and tradearcher will keep this upto date. As he has volunteered to help with the track record of Steve primo strategies.
https://docs.google.com/spreadsheets/d/1I-BLZGJl612g3a8UoWhtRhdF1ECgM49djVbf5TQIHsM/edit?usp=sharing


Version 2 -
UCS_S_Steve Primo - Strategy 4 - Version 2

UCS_S_Steve Primo - Strategy 4 - Version 2
Remove from Favorite Scripts Add to Favorite Scripts
// Created by ucsgears
// Currently Setup and Triggers are coded. 
// This is a veryshort term trading strategy Last for 5 days. 
// Stoploss is Low or high of the Setup bar
// Target is the 100% Price Projection from the Trigger, Trigger is 2 ticks above / below for the setup bar. 

study(title = "UCS_S_Steve Primo - Strategy 4", overlay = true)

basisma = sma(close,50)
upper = basisma + (0.382 * stdev(close, 20))
lower = basisma - (0.382 * stdev(close, 20))
plot (basisma)
trendup = close > upper
trenddn = close < lower


// Pullback & Bounce Criteria
lowest = lowest(low,5)
highest = highest(high,5)
plot (lowest)
plot (highest)
pullback = (low == lowest) or (low[1] == lowest[1]) ? 1 : 0
bounce = (high == highest) or (high[1] == highest[1]) ? 1 : 0


// Top 25% Close 
hilowidth = high - low
// Long Setup
longcandle = close > low+hilowidth*.75 ? 1:0
// Short Setup
shortcandle = close < low+hilowidth*.25 ? 1:0

//Setups
setuplong = trendup == 1 and pullback == 1 and longcandle == 1 ? 1:0
setupshort = trenddn == 1 and bounce == 1 and shortcandle == 1 ? 1:0
plotchar(setuplong, title="Long Setup Bar", char='⇑', location=location.belowbar, color=green, transp=0)
plotchar(setupshort, title="Short Setup Bar", char='⇓', location=location.abovebar, color=red, transp=0)


// Trade Trigger
tiggerlongcandle = (setuplong[1] == 1) and (high > high[1]) ? 1 : 0
tiggershortcandle = (setupshort[1] == 1) and (low < low[1]) ? 1 : 0
//bgcolor (tiggerlongcandle)
//bgcolor (tiggershortcandle)

plotshape(tiggerlongcandle ? tiggerlongcandle : na, title="Triggered Long",style=shape.triangleup, location=location.belowbar, color=green, transp=0, offset=0)
plotshape(tiggershortcandle ? tiggershortcandle : na, title="Triggered Short",style=shape.triangledown, location=location.abovebar, color=red, transp=0, offset=0)
Good Skript,

kann you tell me what settings to adjust if I want to use this for monthly credit spreads?

Thx
Reply
I am confused about something, does the setup bar have to touch the bottom or top band on a pullback in order to generate a signal? Also, what kind of price channels are these with what kind of lookback period? Thanks.

I appreciate you coding the strategy, I would still like to fully understand it and be able to see what it is I'm looking at
Reply
ucsgears PRO gottimhimmel
Watch Steve's Youtube free videos
Reply
I've watched them...they start repeating because he always posts nearly the exact same video

Thanks for all the work you do (that is NOT sarcasm)
Reply
ucsgears PRO gottimhimmel
@gottimhimmel, Yes, It must touch.
Reply
Version 2 = Can be found in the below link

UCS_S_Steve Primo - Strategy 4 - Version 2


UCS_S_Steve Primo - Strategy 4 - Version 2
Reply
I am unable to find this strategy in the list of indicators Sir. How do I get the same?
Is there an equivalent to the same? Thanks and Kind Regards To you.
Reply
ucsgears PRO dheerajsood
Its under indicators, Not under strategies
Reply
ucsgears, do you have a version of this indicator with the alerts built in? That would help me a great deal. thanks!
Reply
ucsgears PRO dougl1965
You don't need a special indicator to set alerts. You can use the same indicator. Select the indicator, then from the dropdown, select trigger. Value > 0. That will be your alert Settings.

Select what you want in the alert.
+1 Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out