Laguerre Envelopes Using weekly, daily, 4 hours, 1 hour, 15 minutes (Laguerre Envelopes Using weekly, daily, )
Hi,
Since it is the beginning of a new year. I'd like to start a new thread with a new idea for a system/strategy.
Its simple:
Buy: 1) Look for weekly candles that close above the Laguerre envelope (top line)
2) Look for daily candle closes above the Laguerre envelope (top line)
3) Look for 4-hour candles with closing prices above the Laguerre envelope (top line)
4) Look for 1-hour candles that close above the Laguerre line
5) Look for 15 minute candles that close above Laguerre
6) Enter long position (% risk is up to you)
7) SL ---> Latest low below 15 minute Laguerre.
6) TP--->When the price reaches 1xSL, breakeven plus 5 points. The trade is closed when the price reaches 2xSL.
7) Once you exit the trade, look for weekly, daily, 4 hourly positions that are still above Laguerre. If they are all still up there. Wait 1 hour to get below Laguerre, then rise again (all week, every day, 4 hours should still be above Laguerre at this point). Then look for 15 minutes to reach above Laguerre. Rinse and repeat the above rules.
Note: I said on the 15 minute chart below that if the 1 hour was below Laguerre, we would normally exit without profit. So if we close the trade at 1 hour below Laguerre, we simply look for the same conditions again from top to bottom and re-enter the trade.
Since it is the beginning of a new year. I'd like to start a new thread with a new idea for a system/strategy.
Its simple:
Buy: 1) Look for weekly candles that close above the Laguerre envelope (top line)
2) Look for daily candle closes above the Laguerre envelope (top line)
3) Look for 4-hour candles with closing prices above the Laguerre envelope (top line)
4) Look for 1-hour candles that close above the Laguerre line
5) Look for 15 minute candles that close above Laguerre
6) Enter long position (% risk is up to you)
7) SL ---> Latest low below 15 minute Laguerre.
6) TP--->When the price reaches 1xSL, breakeven plus 5 points. The trade is closed when the price reaches 2xSL.
7) Once you exit the trade, look for weekly, daily, 4 hourly positions that are still above Laguerre. If they are all still up there. Wait 1 hour to get below Laguerre, then rise again (all week, every day, 4 hours should still be above Laguerre at this point). Then look for 15 minutes to reach above Laguerre. Rinse and repeat the above rules.
Note: I said on the 15 minute chart below that if the 1 hour was below Laguerre, we would normally exit without profit. So if we close the trade at 1 hour below Laguerre, we simply look for the same conditions again from top to bottom and re-enter the trade.
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