This Scalping Strategy Is Next Level — Transcript

Full transcript

1. 0:00I used this strategy to win a trading
2. 0:01championship a decade ago and it still
3. 0:03[music] works today. This is the 9:30
4. 0:06a.m. 15-minute candle and when it
5. 0:08closes, take the Fibonacci, take it from
6. 0:10the high to the low, extend it. Then
7. 0:13load up the ATR candle size indicator.
8. 0:16Here are the settings [music] and we
9. 0:17need our 15-minute candle to be above
10. 0:19the red ATR line to signify this is a
11. 0:22manipulation candle. Flip to the
12. 0:241-minute time frame, set our sell limit
13. 0:26order the opposite direction of the
14. 0:28manipulation candle, target the 38.2,
15. 0:31then let that trade play out, go down
16. 0:33all the way to your profit or set that
17. 0:36trade to break even, target the 61.8 and
18. 0:39let that trade play on and smash that
19. 0:41take profit, too.
20. 0:43>> Right about there. Much love. So this is
21. 0:45our version of the open and range
22. 0:47breakout that I've actually never seen.
23. 0:49So it's playing off that market open
24. 0:50momentum, but instead of taking the
25. 0:52trade in the direction that we have the
26. 0:53breakout, he's actually deploying a mean
27. 0:55reversion strategy to trade back into
28. 0:58that range targeting the Fibonacci
29. 1:00levels. So we can actually build this
30. 1:02indicator and automate this entire
31. 1:04process to see how well this strategy
32. 1:06works right here in Quant. So to do
33. 1:07this, you'll want to go to
34. 1:09luxalgo.com/quant
35. 1:11and we'll have TradingView open on the
36. 1:13other window for testing. Now, all we
37. 1:15need to do is describe to Quant exactly
38. 1:17what we want this indicator to do. So
39. 1:19we'll just go ahead and say, "Build me
40. 1:21an indicator." Here we go. We have a
41. 1:23pretty detailed prompt here. I'm just
42. 1:25asking it to build me an indicator that
43. 1:26detects a 9:30 a.m. 15-minute candle
44. 1:29that candle should be highlighted and we
45. 1:31should check if that candle is breaking
46. 1:33the ATR, which is the average true range
47. 1:35and that just means that there's a lot
48. 1:36of momentum or volume in that break in
49. 1:38that candle. And then we're going to use
50. 1:40that 15-minute candle to draw multi-time
51. 1:42frame Fibonacci level which should
52. 1:44extend from the right [music] of that
53. 1:45candle. And I also drew this
54. 1:47illustration to include as well. So it
55. 1:49has a better idea of what we want built.
56. 1:51So I'll just send that off to be built
57. 1:53and Quant is by far the best platform
58. 1:55for building trading tools outperforming
59. 1:58Claude, ChatGPT, every other model as
60. 2:00this one is specifically trained for
61. 2:03[music] building trading indicators. All
62. 2:04right, so it's done. Add this to your
63. 2:06chart. All you need to do is click code,
64. 2:08click copy, go over to TradingView, open
65. 2:12your Pine editor, and then paste the
66. 2:14code, and then add it to your chart.
67. 2:16Just like that, we have the strategy
68. 2:17built out on our chart. Wait for that
69. 2:1915-minute candle to form like we have
70. 2:21here. And what you want to do, given
71. 2:23that this is a bearish candle,
72. 2:24>> [music]
73. 2:24>> you want to trade the opposite
74. 2:25direction, the low here, and maybe put
75. 2:28your stop below this level right here.
76. 2:30And we can go ahead and target one of
77. 2:32these levels inside the Fibonacci zone.
78. 2:34So, I like to trade one to two risk
79. 2:36reward, so I'll use that 50% zone right
80. 2:39here.
81. 2:42And there, we hit take profit. Now, I do
82. 2:44think this strategy can be improved. I
83. 2:45can also go back here in Quant and add
84. 2:48alerts or any other conditions that I
85. 2:50want to add to this indicator. If you
86. 2:52want access, go ahead and comment the
87. 2:54word breakout, and I'll send you a link.