This Strategy was created according to Larry Williams 9.1 Setup. This is based on the Exponential Moving Average of 9 days. Although this might be used in any timeframe, it is most common on the Daily Timeframe.
I have developed this strategy to be used on both Long and Short Position, using the drop down list.
- Setup 9.1 (Lond Position)
It looks for tickers where the close is below EMA9. Once close gets above EMA9 we set this candle as 9.1. The entry point happens one tick above the 9.1 candle. The stop loss is set to be one tick below the lowest of this candle. The exit takes place once close is below EMA9
- Setup 9.1 (Short Position)
It looks for tickers where the close is above EMA9. Once Close gets below EMA9 we set this candle as 9.1. The entry point happens one tick below the 9.1 candle. The stop loss is set to be one tick above the highest of this candle. The exit takes place once close is above EMA9
To cut the noise and have a better trend direction on the EMA9, on both Long and Short, I used the code below for the setup.
setup91B = fastMA[5]>fastMA[4] and fastMA[4]>fastMA[3] and fastMA[3]>fastMA[2] and fastMA[2]>fastMA[1] and fastMA[1]<fastMA and close[1] < fastMA and close > fastMA setup91S = fastMA[5]<fastMA[4] and fastMA[4]<fastMA[3] and fastMA[3]<fastMA[2] and fastMA[2]<fastMA[1] and fastMA[1]>fastMA and close[1] > fastMA and close < fastMA