kevinmck100

SSL Hybrid Exit Arrow Strategy

Basic concept: Use the SSL Hybrid indicator's EXIT ARROWS to determine trade entry and exit points.

Rules:
  • Enter LONG trades on BLUE exit arrows
  • Enter SHORT trades on RED exit arrows
  • Uses up to 3 DCA orders for trade entry
  • Sets a stop loss
  • Does not set any take profit. Relies on opposing arrow to exit current position
  • When filters are set it affects opening of positions, but opposing arrow will always exit trades regardless of filtering options set

Additional filtering configuration:
  • If the SSL filter checkbox is checked, then LONG positions can only be opened when SSL1 is below the baseline lower and SHORT positions can only be opened when the SSL1 is above the baseline upper
  • If the QQE MOD checkbox is checked, then LONG positions can only be opened when QQE MOD histogram bars are BLUE and the QQE MOD line is ABOVE 0 and SHORT positions can only be opened when the QQE MOD histogram bars are RED and the QQE MOD line is BELOW 0
  • Both SSL and QQE MOD filters may be combined to give stricter filtering, however I find it often prevents entry to too many good trades
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments