Continuation sling
as usual top down approach:
in opposition to general belief indies are specific not universal
everybody wants the holy grail and indi developers want to be famous but as much as there can be an underlying principle thread fine tuning is everything and general use most of the time useless
what does this mean?
it means you need hand backtest every edge creating tool like an indi on your choice of traded subject with each time frame and in all various market environment and you have to do that with various settings and so forth
once a significant edge extracted, you need to keep doing this work while forward testing and applying it as well since markets change
or in short always monitor and re check
the continuation sling is to be expected to work well over the next 3-6 months in the markets with the settings shown here:
we have very difficult environment in regards to low risk entries for trending intra day day types at the moment
this tool will help you isolate low risk entry opportunities on how to get into a continuation move like entries on trend days after the doldrums and alike
here the setup:
BTC daily chart:
you see the slow sto (red) in a nice downtrend straight line
from below the fast sto in white line penetrates the red line and builds a sling providing the continuation play entry confirmation
for a short entry on the price above
another example:
slow sto trending down-fast sto penetrating-turning over=and you can see we still trade sideways in price but right on the next day we break down for nice profits
one more example for shorts:
red line trending down
white line penetrating
and the next day price break
here a few long signals (same thing just in reverse):
red up, white through and build hook and next day go
another:
red line giving you direction and white line penetrating and building a hook upwards(for longs)
one more:
