Hand Grip Strategy - Swing Trading Options Based on 4h Chart

BenTen

BenTen

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New year, new hands. Seriously! We gotta get rid of these weak hands. Introducing the _Hand Grip_ for options trading.





🛠️ The Setup


👁️ Preview



Conditions

Go Long:

  • - MACD_Grip is showing sign of uptrend (indicated by a green arrow pointing up)
  • - Candle closed above the 9 EMA or already above the 9 EMA
  • - Bull theory supported by additional indicators (not required but recommended)
  • - Enter at close of the candle or the dip on the next candle.

Go Short

  • - MACD_Grip is showing sign of downtrend (indicated by a red arrow pointing down)
  • - Candle closed below the 9 EMA or already below the 9 EMA
  • - Bear theory supported by additional indicators (not required but recommended)
  • - Enter at close of the candle or the dip on the next candle.

Options Chain

  • - Go 1-2 weeks out. Can consider farther out if needed.

Examples





Warnings

  • - This is not a foolproof strategy. Be aware of sideways action. Recommended to look at MACD volume and enable DMI to check if the market is sideways or not. If it is, wait until a clear direction is given.
  • - Have not been tested in production (meaning real-life trading, just backtesting so far)
  • - Will put this to the test (for real) starting Monday.
  • - ALWAYS wait for confirmation. Don't dive head first without it.
  • - I did not create any of the indicators mentioned in this post. No intention of taking credit for any of them.

🔌 Other Strategies

 
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T

trademics

New member
Did you have a chance to give this a spin?

I'm still working on my gap indicator posted in another thread, just figuring out the final pieces to add the probability criteria and labels.

 
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BenTen

BenTen

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Staff
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@trademics Hey, been awhile since I revisit this strategy. I'll take a look again this weekend and see if I can take it for another spin next week. Looking forward to see the gap indicator 😀

 
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B

Bluephire1914

New member
VIP
I really want to learn more about the wavewolf / wavetrendmodified CCI and trueStrengthindexTSI indicators does anyone have info that they can share with me?

 
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BenTen

BenTen

Administrative
Staff
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@Bluephire1914 Most of those indicators have been shared. Please use the search bar or check out the Indicators page.

 
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