Hey everyone! Just wanted to share this Algo with you, hope you enjoy! The QMZonesNQ algorithm merges breakout and countertrend strategies into a comprehensive and integrated framework. At its core, the methodology leverages SUPPORT and RESISTANCE levels derived from well-established PIVOT POINTS preferred by experienced traders in daily operations. However, QMZonesNQ introduces a novel dimension to this traditional approach by seamlessly incorporating the current day's initial trading range. This innovative addition stems from in-depth research and analysis that revealed SUPPORT and RESISTANCE levels are not symmetrically positioned around the pivot point. This empirical insight, obtained through rigorous investigation, forms the basis of the QMZonesNQ strategy. To allow users to customize their experience, the algorithm provides adjustable input parameters that regulate these critical levels. The operational logic of the algorithm is elegant and straightforward. In cases where the market experiences significant movement in the first minutes of trading, usually influenced by reports or other market-affecting events, the breakout mechanism comes into play. However, the algorithm also remains attentive to the market's tendency for false and deceptive movements, skillfully adapting to such scenarios. Additionally, if the market undergoes a gradual ascent or descent, the strategy intelligently seeks to capitalize on these patterns. The enhanced version enhances specific aspects of the original system while meticulously guarding against undue risks. It's important to note that both versions of the algorithm require intraday monitoring, primarily to detect cases of failed breakouts. The potential for automation remains noteworthy for both variants. The fusion of these two closely interrelated strategies typically mitigates individual drawdowns associated with each. However, upon close examination of performance metrics, it becomes evident that the cumulative drawdown of closed trades significantly surpasses the combined maximum drawdown of closed trades. This difference in cumulative and combined outcomes is primarily attributed to the temporal occurrence of drawdowns. Typically, highly correlated markets exhibit simultaneous or near-simultaneous occurrences of each algorithmic market component. However, this phenomenon doesn't hold true for the enhanced version of QMZonesNQ. Essentially, the QMZonesNQ algorithm masterfully unites breakout and countertrend strategies within a unique and holistic framework. Based on meticulously calculated SUPPORT and RESISTANCE levels derived from the venerable PIVOT POINT methodology, the algorithm harnesses the power of the initial trading range. Its capacity for customization, responsive adaptability, and calibrated risk mitigation make it an exceptional tool for trading automation, all while thriving in dynamic market conditions, favoring volatility but not shying away from calmer market paradigms.
Share????????????????????????????? I don't see any Algo logic. Saying:- "leverages SUPPORT and RESISTANCE levels derived from well-established PIVOT POINTS" is saying basically a whole lot of nuuuuuuuuuuthing. Or at best a description. Not logic.
In a few months' time, you can retire from trading. Then spend your time spending the $$$$ which you have earned from Algo trading.