3RL Pattern

Strategy Complete: AT-3RL
Screen Name: ActiveTraderMag
Study Type: Strategy
Time Frame: Daily
Date Posted: 01/15/2003
Description: This is a short-term bar pattern strategy that offers an alternative to complex indicators and formulas. It looks for 2 lower lows followed by a new high.

See the Sept-2001 Active Trader Magazine Article by Michael Harris:
AT- PPAT Sept 2001.pdf - 519.4 KB

ELD FILE: 3RL.ELD (2.62k)

How it works: This is a short-term bar pattern strategy that offers an alternative to complex indicators and formulas. It looks for 2 lower lows followed by a new high.

Although the strategy goes long and short the strategy does not reverse. The strategy must go flat before it can take a new position.

See the ActiveTrader magazine article above for more information.

Inputs:
ProfitTargetPct(8) - Pecent profit level from entry price
StopLossPct(8) – Protective stop loss percent from entry price

Entry /Exit Descriptions:
Buy – Look for 2 lower lows following by a new 3 bar High
Sell Short – Look for 2 higher highs following by a new 3 bar Low
Long Exit - Sell at the profit percent or the stop loss percent
Short Exit – Cover at the profit percent or the stop loss percent

Suggested Modifications:
Allow the strategy to reverse.

About the Author/Submitter: Article and EasyLanguage provided with permission of Active Trader Magazine. EasyLanguage provided as an example only. No recommendation or endorsement of this idea should be implied.

TradeStation Forum Link(s):

https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=6001