The 5-minute Buy and Sell strategy employs a dynamic filtering mechanism using the Pivot Trend Indicator alongside the Supertrend. This strategy enhances trade signals by aligning both filters, thus heightening their effectiveness.
Strategy Setup:
The strategy is tailored for a 5-minute timeframe but can be adapted to 15 or 30-minute intervals.
Tradable assets include cryptocurrencies (Bitcoin, Litecoin, Ethereum), major currency pairs (GBP/USD, GBP/JPY, AUD/USD, NZD/USD, AUD/JPY, etc.), and select stocks.
Key indicators on TradingView:
Pivot Point Supertrend with parameters set to 2-3-10.
Range Filter Buy and Sell 5-minute Strategy with default settings.
Search for indicators in TradingView > Indicators > Community Scripts > write in search (indicators name).
Trading Rules:
Trades are initiated only when both indicators are in alignment, ensuring a high-quality entry point.
Buying Signals:
Confirmation is sought from the Pivot Supertrend buy arrow alongside the range filter buy arrow.
Selling Signals:
Confluence is observed between the Pivot Supertrend sell arrow and the range filter sell arrow.
Exiting Positions:
Exit trades when the opposite arrow appears or when there's a change in the Pivot SuperTrend's direction.
Implement initial stop-loss placement above or below the Pivot Supertrend line.
Optionally, set predetermined profit targets related to the asset pair, focusing on fast profit accumulation.
Benefits of the Strategy:
Integration of dynamic filtering techniques enhances trade precision and effectiveness.
Versatile application across various financial instruments and timeframes facilitates adaptability to market conditions.
Streamlined trading rules simplify decision-making processes, aiding traders in executing trades with confidence.
Trade Examples:
Example Buy Trade:
Both indicators signal a buy opportunity.
Entry occurs at the confirmation of a Pivot Supertrend buy arrow and a range filter buy arrow.
Trade is exited either at the appearance of a sell arrow or when the Pivot SuperTrend changes its direction.
Example Sell Trade:
Consensus between the Pivot Supertrend sell arrow and the range filter sell arrow confirms a selling opportunity.
A short position is initiated following the alignment of both indicators.
Exit from the trade is triggered by the appearance of a buy arrow or when the Pivot SuperTrend undergoes a reversal.
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https://drive.google.com/drive/folders/1hN2fBVBHH2iScCpY-Rz-Arn2vMvVmHBp?usp=sharing
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https://drive.google.com/drive/folders/1hN2fBVBHH2iScCpY-Rz-Arn2vMvVmHBp?usp=sharing
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