// When price is above the MAs (Moving Averages) we are only looking to buy as price comes back to the MAs. // And when price is below the MAs, we are only looking to sell when price comes back to the MAs // What we’re looking for when price pulls back to the MAs is for it to hold and then show that it is going to continue. // We look for this continuation signal in terms of a strong, momentumdriven bar.
// 1) – Wait for pullback // 2) – Enter when momentum comes into market // 3) – Exit when momentum slows // When the market has already moved a significant amount that day – Lets not enter in the same direct expecting a further move.
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V 2.0 Updated Channel number as input, so that default 34 can be changed to test with diff numbers.
Please have some light of knowledge on 34 only