(Swing) Range Trading Strategy
Symphony provides SmartSwing Strategy which is very efficient range trading in a time interval. This strategy inputs the time interval and takes trade when market breaks above/below the range. It also provided additional features for trade management like trailing stop loss and range limits.
CutOffTime: the time after which any trade entry is not taken.
EndTime: the time at which strategy stops
CandleSize: the time interval in which a trading range will be formed (visually by making a candle)
TimeOut: the time at which strategy places square-off order for open positions
EntryRange: the price limit beyond which no trade entry will be taken
ExitRange: the price limit beyond which no trade exit will be taken
SLTrailCoeff: The coefficient by which the trailing stop loss will be trailed
SLCoeff: The initial stop loss of the strategy
Range Trading Logic
- Strategy calculates price range based on time interval and places buy/sell entry order beyond the upper/lower range
- The strategy places initial stop loss and trailing stop loss as per information provided by user
- When current position is exited wither by reaching initial stop loss or trailing stop loss, the strategy reverses the position by executing double of original position quantity
- The strategy provides option for both manual square-off and time based square-off