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Trend Bounce [racer8]

Trend Bounce [racer8]

I discovered this mechanical trading system in a video on Youtube titled "This Algo Strategy Has Only 3 rules and 62% Win Rate".
Link to video:



After watching it, I coded the trading system on Tradingview...and now I am introducing it to you guys.
Unlike in the video where only buying is allowed, I modified the system so that it has both buy & sell signals.
I've tested it repeatedly in different markets on TV including stocks, currency pairs, bitcoin , and commodities ...and it works!

A buy signal is generated whenever the current close is below the previous 7-day low and the current close is above the 200 period moving average.
A sell signal is generated whenever the current close is above the previous 7-day high and the current close is below the 200 period moving average.

This system is unique in that it has both trend-following and reversal elements in it.
The system trades short-term reversals while obeying the long-term trend.
Essentially, you are buying the dips of bullish trends! & selling at the peaks of bearish trends!

Enjoy ♡

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