DownloadTeamtrader's Day Trading Setup

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Here is a day-trading system that should produce profits every week - without fail.

It identifies both sideways movements and trends.

Notes
The background of the chart changes when the CCI-55 crosses zero.

The current support and resistance horizontals on screen show the trading channel. They delete when crossed as they are no longer relevant.

The double BB channels, combined with the background colour and trading S&R channel, show clearly when there is a trend starting.

Under the chart the CCI divergence finder indicator shows red histos when the momentum level of 100/-100 is crossed.
Blue histos shows divergence in the current timeframe.

The background colour will show divergence in the next higher timeframe.

Traders can add their own favourite indicators to this template.

TEAMTRADER
These users thanked the author TEAMTRADER for the post (total 13):
Jimmy, ChuChu Rocket, charli, alextschem, moey_dw, Narkarn, ETFOptionsTrader, QSD, YeshuaYoke, Dandanakka, Zyzel, dmnik, ivanzab2


Re: Teamtrader's Day Trading Setup

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TEAMTRADER wrote: Tue Dec 15, 2020 1:27 am Here is a day-trading system that should produce profits every week - without fail.
Neato, thanks TT! :clap:
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Re: Teamtrader's Day Trading Setup

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drtit wrote: Tue Dec 15, 2020 2:56 am Anybody show me hơw to entry rule? i dont know how to use this
I don't do training now but this is how I would enter - using trendline/traps under the background silver lows and over the highs of the white background.
I urge you to use an indicator of your choice and - eg, if it is stochastic you can superimpose it on top of the CCI underlay indicator and have the same 'arrow' signal on screen if it helps.
Expansion of the BB is another trigger if you are looking for more confirmation.
TEAMTRADER
PS
Using divergence signals from the upper timeframe along with a confirming signal - like RSx or Stochs - is another way you can trade this template.
The ONLY other thing I would add is if ANYONE makes a loss over a full weeks trading I would like them to post, with their trades, as I believe it is impossible to make a loss over a full week.
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Re: Teamtrader's Day Trading Setup

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Another very interesting point with this set up is that when the price opens and closes OUTSIDE the outer band this is a great signal to alert day traders to the ACTUAL direction of the upcoming move. This is ONLY confirmed when the bands themselves EXPAND.
The illustration shows two highlighted sections where the price opens and closes outside the outer band BUT ON BOTH OCCASIONS the bands were contracting.
The move down following these two areas is obvious as it coincided with expanding bands.
This very low risk strategy.
I am sure some very clever coder could make this into an EA and sell it - donating some proceeds to the British Heart Foundation (hint).
TEAMTRADER
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ETFOptionsTrader

Re: Teamtrader's Day Trading Setup

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ETFOptionsTrader wrote: Thu Dec 17, 2020 6:54 am The geo divergence predictor is one seriously awesome indicator, is it possible to add alerts when the bars change color to blue or red?

Very nice work on your setup.
You would need to ask a coder as the original indicator was made for me many years ago and I had adapted it.
There would be far too many signals in the current time frame for that setting of CCI but if you change the setting to 365, as was one of my original set of divergence indicators, it will prove a better setting for a current timeframe alert.
Does that help?
TEAMTRADER
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ETFOptionsTrader

Re: Teamtrader's Day Trading Setup

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TEAMTRADER wrote: Thu Dec 17, 2020 8:55 am

You would need to ask a coder as the original indicator was made for me many years ago and I had adapted it.
There would be far too many signals in the current time frame for that setting of CCI but if you change the setting to 365, as was one of my original set of divergence indicators, it will prove a better setting for a current timeframe alert.
Does that help?
TEAMTRADER
For counter trend systems I always like to see if I can find trend entries and counter trend entries for trend systems, worst case it helps me see weaknesses of the system and best case you can find good entries trading the other direction. I think there are very reliable counter trend entries when price breaches the bollinger bands, goes past support lines with the geo divergence indicator showing extreme momentum. I experimented and tweaked with the geo settings to only highlight extreme moves and it does a great job at finding exhaustion points (basically trading against FOMO).

-edit-

Just realized my reply had little relevance to your post 🤦‍♂️ lol but here's what I mean. From a couple of days ago on SPY. There was a breakdown but then the geo indicated extreme momentum was occurring and price turned back around.


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