Scot1and's Slingshot Trading Strategy
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- Опубликовано: 3 июн 2024
- This video covers @Scot1landT's slingshot trading strategy, which is one of the setups he uses to trounce the market with multiple triple-digit annual returns.
I cover what the slingshot setup is, and I backtest the performance to see if it's really that good -- spoiler alert: it is.
To check out the results, download the TradingView slingshot indicator code, or learn how I backed the trading setup, check out the following blog post:
✉️ Learn the secrets of legendary traders and investors:
bit.ly/4aCna7i
🔗 Follow along:
analyzingalpha.com/blog/sling...
#trading
#technical-analysis
#stocks
#backtest
00:00 Introduction
00:12 Who is Scot1land?
01:00 Hi, I'm Leo
1:20 Slingshot Backtest Overview
1:35 Backtest Universe
1:45 Slingshot Overview
2:45 Slingshot Entry Logic
3:50 Slingshot Chart Examples
8:43 Slingshot Backtest Results
10:06 Next Steps
Website: analyzingalpha.com
Interested in backtesting and code? Check out my sister channel:
/ @analyzingalpha
** All videos and code examples are subject to the disclaimer **
Disclaimer: analyzingalpha.com/disclaimer
What did you think? Do you have a strategy you would like me to test? Do you have any feedback regarding this video? If so, please leave a comment below!
HI Leo, that was a great video thanks so much and keep them coming. Liked and subscribed. Is there a list of the trade buy/sell dates and stats in excel?
Excellent video and very well explained! Thank you so much!
Thank you!
Awesome video! Appreciate the work that must have gone in to this. I tend to execute at end of day so data on the daily trades would be great to see.
Hi Chris, I'll try to have something for you next week. Challenge with the current parameters is that there are so few trades.
Wow this is so cool. Thank you for sharing that edge! I learned a lot from it. :)
Glad you liked it!
This and the fishhook are Scot1and most profitable setup I believe. Always interesting to understand the psychology behind any setup, some form of U&R seems to be present in many setups: basic ma U&R, fishhook, slingshot, handle in Cup&Handle, opening range breakout... Thanks for a great take on Scot1land's slingshot. Happy to see more of your content!
Great idea. I’ll create some content on these!
what does U&R mean?
@@ownagejuice1394 undercut & rally
What a great video, just to let you know im your new subscriber and #300 great content hoping to see more in the future. congrats !
Thank you so much! I appreciate the kind words. :-)
Great video and great analysis. I love Scotlands style.
Thank you!!
Good stuff. For a trader who prefers pullbacks over breakouts it´s clearly worth exploring the setup deeper.
It really is!
Thank you for the video, Leo! The challenge is how to screen for the stocks making slingshot setup in the tradingview?
This is a great question! I’ve added this for a future video. Also, I’ll be creating the slingshot blog post next week and will add the TradingView indicator code.
Interesting. A few questions: how do you place the stop? bar low? How do you take profits? 3 bar exit or trailing stop? Only entry is discussed in the video which didn't give a full picture. Thanks.
Sorry for the lack of clarity here. Stop
is at low of the slingshot/trigger bar. So if the price is $100 and low is $90, stop is at $90. This would give us $10 of risk. I then analyze the different risk-reward (R:R) ratios for take profit levels from 1 to 10. So a take profit with a R:R of 1 would be $10. A take profit at a 1:2 risk-reward would take profits at $20. It doesn’t matter too much if you use daily or hourly bars for your risk-reward levels but using the hourly timeframe increases the number of potential opportunities. I hope this clears it up.
thanks. can u teach me how to trade Algorithmically? Do you have a video or open resources
on how to start with that?
Yes, check out my other channel where I go over code: ruclips.net/user/analyzingalpha. I also share a lot of my code on my website, also.
At the risk of sounding like the wet-behind-the-ears novice that I am, is what we are looking for (on the daily) the close of the daily EMA to cross above the daily 4 period (based on the highs) EMA? Thanks so much for the clarification and for putting together the video!
Hi Ricardo, great question! You can use both the hourly or daily bars, but what I demonstrate primarily in the video is the close of the hourly bar above the 4 period ema of the hourly highs.
Thanks for the great analysis and content. No, had never heard of "Scot1and", so doing some reading / homework now. Also, for my ediface, why do you use the NASDAQ and not the S&P 500? Just professional curiosity and hoping to learn something new...
Hi Marty, thanks for the kind words. I just released a video podcast interviewing Scot1and and his setups. In regards, to the Nasdaq, tech typically moves faster than many in the S&P500 so it's a better representative universe of what breakout traders typically trade.
thanks...
Most welcome.
Hey, is the code for this backtest publicly available? Would love to try some iterations of it!
Hi John, this will be available after I create the programming video on my algo trading channel next week.
@@AnalyzingAlphaTV Great, looking forward to it!
Would also like to see the daily slingshot data as well
Apologies for asking a dumb question, but what is four period EMA? I understand 50 or 10 EMA.
Great video though ..
Never a dumb question! It just means the exponential moving average (EMA) of the highs of the last four bars, in this case they were hourly bars.
Could you share the avg. r/r and the winning rate %? Thanks!
I will provide this in the associated blog article that should be live next week.
great video, please interview stockbee , gona be awesome listening both of you exchange ideas
Thank you! Yes, I’ve reached out and hoping to hear back soon!