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Wizdough Second Entry Strategy

Wizdough Second Entry Strategy for NinjaTrader 8

The strategy uses the Wizdough Second Entry Indicator to automatically place orders when the market is in a two-legged pullback status. The strategy also uses EMA to identify the current trend and Momentum to filter out congestions.

  • This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision.

chart-example

Out of stock

What’s new

01.01.3 2022-10-29

  • Performance improved. Now no need to turn off “Show Symbols” for SA backtesting.
  • Added selector for two pairs of signals: Plot Long / Plot Short 1, 2
  • Added new Trail Type: Previous Bsr + 1 Tick

Installation Guide


Links

Blog post: First run of Wizdough Second Entry Strategy

Overview

The strategy can be configured in Strategy Properties, as displayed in the picture.

The strategy perchase includes:

  • Wizdough Second Entry Indicator
  • Technical support Note: We reserve the right to charge hourly for support beyond the initial 1 hour

Features

  • Multiple Targets: up to 4
  • Order Types: Market, Limit
  • Backtesting: Tick replay
  • Time Filters: up to 6, action options
  • Breakeven: up to 3 levels
  • Stop loss at signal bar
  • Risk calculation for signal bar stop: min, max
  • EMA filters: 2
  • Momentum filter
  • Supports manual order management
  • Control buttons: on/off, flat, long/short, single entry/auto entry
second-entry

Testing

There are a few options to test this strategy.

  1. Playback Connection. This method allows you to understand how the strategy works in detail. You can watch how it enters and reacts to price change. You can replay the same moment, changing parameters to get the result you want.

  2. Backtesting with Strategy Analyzer. This method allows you to test the strategy over a more extended time period. You can test the strategy with different parameters, and see the result. The second Entry Strategy uses intra-bar price movements and it requires Tick replay to be enabled. Also, you need to enable “111. Backtesti/Historical -> Backtest, fills on lower timeframe”. Testing speed won’t be high. In my case, one month was tested for 24 hours.

  3. Real-time SIM account. After you tested options 1 and 2 you can try the strategy in real-time. Make sure you use a Simulated Account.

You can see in the picture the result of my testing in SA as an example.

long-chart

Change Log

01.01.3 2022-10-29

  • Performance improved. Now no need to turn off “Show Symbols” for SA backtesting.
  • Added selector for two pairs of signals: Plot Long / Plot Short 1, 2
  • Added new Trail Type: Previous Bsr + 1 Tick
  • Minor bugs fixed.

01.01.0 2022-10-3

  • Added Trailing Stops.
  • Added PnL limits.
  • Modified EMA Cross filter.
  • Minor bug fixed.

01.00.0 2022-07-22

  • Multiple Targets: up to 4
  • Order Types: Market, Limit
  • Backtesting: Tick replay
  • Time Filters: up to 6, action options
  • Breakeven: up to 3 levels
  • Stop loss at signal bar
  • Risk calculation for signal bar stop: min, max
  • EMA filters: 2
  • Momentum filter
  • Supports manual order management
  • Control buttons: on/off, flat, long/short, single entry/auto entry

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Risk Disclosure:
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets Last updated June 13, 2019 in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Testimonials:
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

Live Trade Room:
This presentation is for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.