El Tangonator Strategy
Available only to TRI members.
- switched TP1 and TP2
- changed some defaults
- fixed short trade levels not being plotted on the chart
- added the option to switch targets
Strategy for El Tango Indicator:
Best used on the 4h chart - Ideally with the direction of the trend
Best to take the trade as soon as the indicator fires rather than waiting for a retest. This is because most of the time the retest does not come if it’s a strongly trending market
Aim for a 5 to 1 R:R ratio
Set your stop at 1% below/above the previous market structure - this is for BTC
Once the target is hit, if you’re in the direction of the trend, take some profits then trail the remaining at around 5%
The indicator gives you the entry level - it is the middle of the previous W
Make sure stop is 1% below market structure so it is not as easily stopped out
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact alexpunct directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact alexpunct directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.