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New Indicator: Trend Continuation

Writer's picture: Trend RiderTrend Rider

Hello Riders A new sub indicator has been added: "Trend Continuation Strategy" (part of Trend Rider Algo #2)


Objective: Signal potential longs and shorts on the same direction of the current trend. This indicator is better on lower timeframes for scalping.


Basically the idea is to catch bounces during a bull trend and rejections during a bear trend.



The key difference with our take profits and bounce signals is that TP and PB usually goes against the trend, so this "Continuation Strategy" is a perfect complement.


Very important:

- Set and stop loss before entering. VERY IMPORTANT for this indicators, do not aim to catch a big trend shift as this signals bounces/rejection only.

- Secure profits early.


Notes about the indicator:

- Red Candle: Pontential Short

- Green Candle: Potential Long How to use it effectively

- Pay attention to the first candle that changes color, that is the leading signal, if you miss the entry and a second candle appears with the same color you can enter trade but only if the candle is on a better position versus the leading candle (ejm: for a short if a second candle appears above the leading candle then is a better risk/reward)

Examples:

- Enter with a minimum of a 2:1 ratio (good idea to see for confluence with TP, PB, and M signals)


For Shorts (2:1 Ratio)

For longs (2:1 Ratio)

Failed trades:

Of course indicator does not work all the time, as said before is very important to manage your stop loss.


IMPORTANT: make sure to remove trend rider algo #2, refresh browser and add it again to your chart to see the latest version. (edited)


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Trading is risky & most day traders lose money. This site & the products & services Trend Riders offers are for informational & educational purposes only. All content is to be considered hypothetical, selected after the fact, in order to demonstrate our product and should not be construed as financial advice. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results.
 

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