Could you help me in how to apply this strategy on streak-
When PSAR crosses below the closing price and ADX is roughly greater than 23.( Bollinger bands to check if the price is in LBB and MBB region with 1-2% excess on either sides of LBB and MBB)
Price of the stock either crosses above UBB or exit the trade if price reaches more than 80% gap between UBB and MBB.
How to implement this strategy on Streak?
Please elaborate. A screenshot of the chart would help.
Hi @Krishnendu , Thanks for your help!!
For: (Bollinger bands to check if the price is in LBB and MBB region with 1-2% excess on either sides of LBB and MBB)
I only want to buy the equity when it’s price is between LBB and MBB region but I also want a little flexibility and hence I am ready to buy the equity if the price is 1-2 % higher than MBB or 1-2 % lower than LBB , provided PSAR crosses below closing price and ADX is above 23.
For example - In this screenshot, on 29/9 (when PSAR crosses below the closing price, price of the stock is in region between MBB and UBB, so if the price is just slightly above MBB (less than 2% of the MBB value) ) I am ready to make trade and take buy position because price of the stock is just slightly above MBB, and there is higher probability to make profit.
@Krishnendu (One more clarification required)
Let’s say a stock is in bearish trend and let’s say on 10th PSAR crosses below the closing price (but we got the PSAR crossing below closing price signal at 3-30 pm when market got closed, because it is calculated on closing price ) and on that day, the stock rallied insanely (about 5-6 % rise) . So my signal got delayed and I missed a good opportunity. Does Streak work this way and if yes how can I get PSAR crossing below signals on current price of stock rather than closing price?
You can write
*Close(0) Higher than PSAR and *
*Close(0) Higher than LBB 0.98 and *
Close(0) Lower than MBB1.01
Streak uses OHLC data to send triggers, you can use a smaller base timeframe like 3-5min and check your condition use MTF completed i.e Multitimeframe completed function on the timeframe of your choice.