Cash Saty Vomy (STRATEGY)
The Saty Ribbon and Saty ATR Levels were created by Saty Majajan (www.satyland.com) and he has free indicators available on TradingView.
Wha this strategy does is applies his Ribbon and ATR levels concept into a strategy he teaches called the Saty Vomy Strategy.
This setup occurs when on the 10m chart, the ribbon is in a clear (thick) trend. Price then starts to pull back, forming a "Dolphin" shape in the ribbon. When the 48ema on the 10m chart breaks, that is a signal to enter a trade, telling us the trend is breaking. You can learn more about this setup here: twitter.com/sat...369109774614532?s=20
This indicator applies these rules by displaying the 10m ribbon over a 3m chart, and displaying long/short signals when the setup occurs. It provides it as a TV strategy, allowing you to backtest the strategy and see how well it works.
There are some caveats that the indicator does not (currently) solve for:
- If there is a key s/r level nearby, then you can experience fake outs. Always check that key support/resistance levels have broken before entering a trade, and understand your risk reward on the trade based on where your levels are.
- Volatile news events like FOMC, Fed Speakers, etc can quickly invalidate a setup.
Wha this strategy does is applies his Ribbon and ATR levels concept into a strategy he teaches called the Saty Vomy Strategy.
This setup occurs when on the 10m chart, the ribbon is in a clear (thick) trend. Price then starts to pull back, forming a "Dolphin" shape in the ribbon. When the 48ema on the 10m chart breaks, that is a signal to enter a trade, telling us the trend is breaking. You can learn more about this setup here: twitter.com/sat...369109774614532?s=20
This indicator applies these rules by displaying the 10m ribbon over a 3m chart, and displaying long/short signals when the setup occurs. It provides it as a TV strategy, allowing you to backtest the strategy and see how well it works.
There are some caveats that the indicator does not (currently) solve for:
- If there is a key s/r level nearby, then you can experience fake outs. Always check that key support/resistance levels have broken before entering a trade, and understand your risk reward on the trade based on where your levels are.
- Volatile news events like FOMC, Fed Speakers, etc can quickly invalidate a setup.
Release Notes:
v1.1: Added configurable setting for the number of bars to be considered a strong ribbon (defaulted to 80 bars = 4 hours on a 3min chart)