Explanation of Default Entry Signals
TradeShields offers several predefined entry signals that simplify strategy creation. Here’s a breakdown of the most popular options:
- Supertrend Change: Enter trades when the Supertrend indicator flips direction.
- Bollinger Bands Touched: Enter when price touches the upper or lower Bollinger Band.
- RSI Strength/Weakness: Enter based on RSI values crossing overbought or oversold thresholds.
- Ichimoku Kumo Breakout: Enter when price breaks through the Ichimoku Cloud.
- Pullbacks to EMAs (50, 100, 200): Enter when price retraces to a selected moving average.
- MACD Histogram Flip: Enter when the MACD histogram crosses above or below zero.
How to configure:
- Navigate to Entry Settings in the input panel.
- Select an entry signal from the dropdown menu.
Example:
- For a trend-following strategy, choose Supertrend Change to enter trades when trends reverse.
- For a breakout strategy, use Ichimoku Kumo Breakout to capture momentum trades.
Tips:
- Pair entry signals with filters to avoid false signals.
- Backtest multiple signals to find the best fit for your trading style.