I found this trading system on the TradePrime channel. It captured my interest because of all the views it got and it’s unique take-profit method. I also wanted to experiment with giving away a free trading script to gauge the reaction of the audience.
TradingView Strategy: https://www.tradingview.com/script/VK36XRLk-TL-Prime-86-Strategy-v1-0/
TradingView Indicator: https://www.tradingview.com/script/7dTIFvJZ-TL-Prime-86-Indicator-v1-0/
In addition to reviewing the indicators, providing exact entry rules, defining the take profit and stop loss levels, testing, reviewing the results, discussing the equity curve, and scoring the system on a scale of 0 to 10, I also share my 6 optimization tips that you can try in your own trading system development. Do not neglect back-and-forward testing, that is critical.
⏱️ Timestamps ⏱️
00:00 – Start
01:11 – Indicators
03:46 – Examples
07:21 – Results, Equity Curve, Score
09:33 – Optimization
⚙️ System Specifics ⚙️
📛 System Name: Prime 86
🏆 Trader’s Landing Score: 8
🎹 Instrument: Euro (EUR) vs. US Dollar (USD), Bitcoin (BTC) vs. US Dollar (USD)
⌛ Time Frame: 30-Minute (M30)
👀 TradingView Indicators
Links to indicators located here: https://traderslanding.net/indicators/
Name: HalfTrend
Inputs: Amplitude = 4
Style: Uncheck show channel.
By: everget
Name: Relative Strength Index (RSI)
Inputs: Period = 2
Style: Yellow, Overbought = 90, Oversold = 10
By: TradingView Built-In
Name: ATR Bands
Inputs: 2X ATR, Upper and Lower.
Style: Orange Bands
By: AlexanderTeaH
☝️ Long Entry
1) RSI below 10.
2) HalfTrend indicator buy signal.
3) Enter when prices moves above trigger candle.
4) Cancel setup if next candle does not move above trigger.
👇 Short Entry
1) RSI above 90.
2) HalfTrend sell signal.
3) Enter when price moves below the trigger candle.
4) Cancel setup if next candle does not move below trigger.
🔥 Risk to Reward: Dynamic
🛑 Where to place stop-loss: 2X ATR of Trigger Candle
🚀 Where to take profits:
For Longs: When RSI closes above 90.
For Shorts: When RSI closes below 10.
Original Video URL: https://youtu.be/UhU8U4AWysA
⚠️Disclaimer: This content references opinion and is for information purposes only. Not intended to be investment advice.
