ucsgears

UCS_S_Steve Primo - Strategy #8

Hello Fellas,

Hope you are trading fantastic and fine. Here is another setup from Steve Primo ( Stocks ) Setups. He claims this can be applied on any market, and you can. Primarily focused on Stocks and Futures market.

NOTE : I DID CODE THE BOTTOM INDICATOR, NOT PUBLISHING IT, ITS JUST RSI (5)

What did I change, ofcourse I don't publish what I find, There is a bit of me in the codes.....
1. Setup only shows up at meaningful levels, Stringent Filter

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

This is more like catching a freight train after a mini pullback.

AGAIN, This is not a holy grail, but this fits my personality of trading, Buying pullbacks on stronger stocks . Because it is harder to get a UCS_momo_Oscillator to signal a setup, primarily because of the smoothing, you can use this as an alternative to catch the excitement trade.

Do not sit on it for more than T+4 days, Unless another setup triggered in your way.

Rule - Buy/Sell the candle breakout next day after the setup - in the direction it is setting up
- Close the Position @ 100% candle extension or RSI Oversold.
Remove from Favorite Scripts Add to Favorite Scripts
// Coded by UCSgears - Steve Primo's Setup
// I do not own the strategy, Developed by taking hints from his video library in Youtube
// So far, this can be one of my fav setup, Fits my mentalilty.

study(shorttitle="SP-S#8", title = "Steve Primo - Strategy #8", overlay = true, precision = 2)

trend = sma(close, 50)
rsi = rsi(close, 5)
rsitriggervalue = 50
petd = ema(close,15)

// PET-D
petdcolor = close > petd ? green : red
barcolor (petdcolor)

// ALL PLOT
plot(trend, linewidth = 3, color = black, title = "Trend - Long Term")
plot(petd, linewidth = 1, color = blue, title = "Trend - Short Term")

//Setup Long
al = low > trend and close > trend
bl = rsi[1] < rsitriggervalue and rsi > rsitriggervalue and rsi < 60
cl = close > petd 
zl = (al == 1 and bl == 1 and cl == 1) ? 1 : na

//Setup Short
as = high < trend and close < trend
bs = rsi[1] > rsitriggervalue and rsi < rsitriggervalue and rsi > 40
cs = close < petd 
zs = (as == 1 and bs == 1 and cs == 1) ? 1 : na

// Bar Color 
zc = zl == 1 ? green : zs == 1 ? red : na

// All Plot
plotchar(zl ,location=location.belowbar, text="Strategy #8 Long", color = zc)
plotchar(zs ,location=location.abovebar, text="Strategy #8 Short", color = zc)

//plot(rsi)
//plot(rsitriggervalue)
B120626
2 years ago
thanks!
Reply
ucsgears PRO
2 years ago
my rules generated some nice profits.
snapshot
Reply
IvanLabrie TOP ucsgears
2 years ago
Looks solid!
Reply
ucsgears PRO IvanLabrie
2 years ago
thanks, traditional version pulls in more picks. some are just not going to work. i should give steve a thumbs up for rsi 5 and 50 sma combo. the pet-d confirmation is not valid in this case
+1 Reply
IvanLabrie TOP ucsgears
2 years ago
Go ahead ;) Charge some money for it...I'm sure he will.
Reply
dorbesh.numan ucsgears
10 months ago
i dont get it bro. can u explaine
Reply
craunico PRO
2 years ago
Seems like quite a few signals are calling for long position when RSI and price are high and vica versa too. The signals are good though just do the opposite of what it says in relation to where the RSI is

Thank very much for sharing
Reply
Handicapper31
2 years ago
Thanks UCS! Looks like Stock Strategy #8 is the same as Forex #6. Check out about 13:30 into the video for the entry.
http://www.fxstreet.com/webinars/sessions/the-correct-way-to-use-the-rsi-in-forex-trading-part-2-20110512/

Steve does come up with some nice, simple entry methods.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out