Crossbow Entry Strategy for Compass
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Crossbow Entry Strategy for Compass (Intermediate Strategy)
Compass excels when combined with exponential moving averages (EMAs). Specifically, utilizing dRisk's in-house EMA crossover indicator named 'Crossbow' developed for optimal use with Compass. Crossbow automatically adjusts it's moving average settings to ensure optimal configurations for each pair and time frame.
In the world of finance, simplicity is often the key to effectiveness, and this strategy embodies that simplicity. Here's how it operates:
Entry Procedure:
Traders receive a 'BUY' or 'SELL' alert from Compass after it interacts with either line indicated by Crossbow.
Traders execute an immediate market order entry, aligning with the indicated signal or waits for entry at pullback.
Traders establish a take profit (TP) level at the high or low of the candle, depending on whether it's a 'BUY' or 'SELL' signal.
Traders set a stop loss (SL) above or below the signal candle, corresponding to whether it's a 'BUY' or 'SELL' signal.
This straightforward approach streamlines decision-making and enhances the precision of your trading activities.
