Events That Set Up a Trade | CQG News
Summary
We want to buy the low of the candlestick formation hammer, but only if this trading opportunity happens within a certain number of bars. Looking at the Setup Study Parameters dialog, the candlestick formations are simply numbered from 1 to 15. The third option is to switch on and off an allowance for trading based on two totally different rules or indicators. To revoke the allowance for long trades, we use the RSI if it drops below 80 or if it is below 50: These are the red arrows. To use this inside a trading system, you just need to add the filter to the signal portion of your entry.
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$50M to $100M