Strategy for my El Tangonator indicator. Optimized for Bitmex XBTUSD 4h chart. It includes pointers for entry, target and stop loss.
Available only to TRI members.
Available only to TRI members.
Versionsinformation:
- updated risk %
- switched TP1 and TP2
- changed some defaults
- fixed short trade levels not being plotted on the chart
- switched TP1 and TP2
- changed some defaults
- fixed short trade levels not being plotted on the chart
Versionsinformation:
- couple of fixes
- added the option to switch targets
Strategy for El Tango Indicator:
Best used on the 4h chart - Ideally with the direction of the trend
Best to take the trade as soon as the indicator fires rather than waiting for a retest. This is because most of the time the retest does not come if it’s a strongly trending market
Aim for a 5 to 1 R:R ratio
Set your stop at 1% below/above the previous market structure - this is for BTC
Once the target is hit, if you’re in the direction of the trend, take some profits then trail the remaining at around 5%
The indicator gives you the entry level - it is the middle of the previous W
Make sure stop is 1% below market structure so it is not as easily stopped out
- added the option to switch targets
Strategy for El Tango Indicator:
Best used on the 4h chart - Ideally with the direction of the trend
Best to take the trade as soon as the indicator fires rather than waiting for a retest. This is because most of the time the retest does not come if it’s a strongly trending market
Aim for a 5 to 1 R:R ratio
Set your stop at 1% below/above the previous market structure - this is for BTC
Once the target is hit, if you’re in the direction of the trend, take some profits then trail the remaining at around 5%
The indicator gives you the entry level - it is the middle of the previous W
Make sure stop is 1% below market structure so it is not as easily stopped out
Versionsinformation:
increased precision